For decades, the Middle East has been the hot-spot for oil production and export, making some of the countries in the area extreme wealthy.
In fact, for the past 60 years, Saudi Arabia has been the world’s leading exporter of oil, and industry that has made the ruling family among the wealthiest families in the world.
For many decades, the United States has been dependent on foreign oil to fulfil our own energy needs.
However, the United States is soon to surpass Saudi Arabia as the world’s top oil exporter, leading one research firm to believe the oil boom could be enough to erase the foreign debt and trade deficit.
The Epoch Times – United States to Surpass Saudi Arabia and Become World’s Largest Oil Exporter – The United States will soon export more oil than Saudi Arabia and become the world’s largest oil exporter for the first time in 60 years, according to projections by research firm Rystad Energy.
The boom in oil, liquid natural gas, and other liquid energy exports will last for years and be enough to erase America’s foreign debt and trade deficit, according to Per Magnus Nysveen, a senior partner at Rystad Energy.
Rystad forecasts that the United States will export more oil than Saudi Arabia by the third quarter this year. The remarkable turnaround is being made possible by the growing production of shale oil and increased capacity for oil exports from America’s Gulf Coast, according to Rystad Energy…
Democrats are dead set on destroying the oil, natural gas and coal industries.
When Obama was in the White House, he declared war on the oil and coal industries.
Current Democrats in Congress not only want to continue Obama’s war on oil and coal, but they plan on totally killing the oil and coal industry and force America into expensive so-called renewable green energy.
If Democrats get control of the nation, they will carry out that goal, which would not only put tens of thousands of Americans out of work, but would also kill the chance of eliminating our foreign debt and trade deficit.
The opinions expressed by columnists are their own and do not necessarily represent the views of Barb Wire.