The United States is set to destroy Saudi Arabia as the world's leading oil exporter for the first time in over six decades.
According to Rystad Energy, at the end of this year, America will cover the Middle East in exports of oil and other energy products, such as natural gas liquids and petroleum products.
This is the first time the US has achieved a milestone since Saudi Arabia began selling oil to other countries in the 1950s.
& # 39; It's not remarkable, says energy strategist Ryan Fitzmaurice to CNN. "Ten years ago nobody thought it could happen."
To a large extent, the power shift has been credited to which experts are called the "shale boom" and establishes Texas as the epicenter of US oil trade.
The deep energy shift has been largely credited to the "shale boom", thanks to technological breakthroughs. Websites such as Permian Basin, in West Texas, have become epicenter of production
Technological breakthroughs have also played their part, with drilling innovations helping to access major oil streams trapped in shale oils in the United States.
With an emphasis on shale-based fuel – an organically rich sedimentary rock – US oil production has doubled over the past 10 years.
Ryan Fitzmaurice called the US milestone remarkable, and insisted no one would have predicted it would be possible ten years ago
And with the production in Permian Basin, in West Texas, having reached a full-time pump The US reaches more oil than any other country – including Saudi Arabia and others at Oserhouses Russia.
The Skifer boom has run incredible increases in production, Fitzmaurice told CNN. & # 39; US output is off the charts. & # 39;
In 2015, the Congress lifted a 40-year oil export line that led to an explosion of international sales. US states & Gulf 39 are now encrypted to build more infrastructure to meet the ever-increasing demand for US crude oil.
& # 39; Excess fossil fuel from America will find many eager buyers in fast-growing Asia, said Rystad. their report.
In Saudi Arabia, oil exports are currently around 7 million barrels of crude oil a day, along with two million barrels of natural gas and petroleum products.
In the United States, the United States exports three million barrels of oil and five million gas and petroleum barriers.
But according to Rystad, the current difference between the two will disappear at the end of the year. Saudi Arabia, however, will remain the world's leading crude oil exporter specifically.
With a shift in weight towards slate – an organically rich sedimentar mountain – US oil production has doubled in the last decade
In 2020, the United States is expected to export more energy than it is imported for the first time since 1953
Permain Basin is considered the center of the American shale boom success, where development technology allows companies like BP and ExxonMobil to profitably profit at low level
Exxon now says the plan will produce more than 1 million barrels of oil per day from Permain alone, in Increasing profitable shale production and a robust global appetite for light oil and gasoline are ready to bring the US to a position of oil dominance over the next few years, Rystad's report says.
Such a dominance will allow the United States to be more self-sufficient in energy than before.
Vice President Mike Pence remained unphased by warnings that the increase in oil production will cause irreversible environmental damage during his appearance in Ohio Oil and Gas Association Meeting Friday
Energy Department has predicted that the United States will export more energy than it imports for the first time since 1953 by 2020.
However, environmental experts say that the unprecedented wealth poses catastrophic climate problems.
On Friday, the Trump administration seemed to be out of step with the projections, but as Mike Pence appeared at the Ohio Oil and Gas Association's annual yelling United States
Vice President also took advantage of the opportunity to slam Democrats & # 39; Green New Deal & # 39; supported by Alexandria Ocasio-Cortez.
& # 39; The only green thing about the green new deal is how much green it will cost us all, he said with a green smile.