We Are Drilling, Baby! U.S. Passing Saudi Arabia in Oil Production

What do you know—“Drill, baby, drill” is working.

Thanks to new smart-drilling and production technologies (including hydraulic fracturing), the U.S. is the leading liquid fuels producer in the world and will soon be the world’s largest producer of petroleum. And we would be even further in the lead if we had pro-growth federal energy policies.

The latest news shows that Texas oil production doubled in just the last three years and is the highest it’s been since at least 1981. North Dakota is now the second-largest oil-producing state and sets a new production record virtually every day, and the U.S. is set to surpass Saudi Arabia as the world’s largest petroleum producer. This new production provides a cushion that helps insulate oil markets from the price spikes we might have seen with the continuing turmoil in the Middle East—from the Arab Spring to the nonstop threats from Iran.

According to President Obama, our newfound oil leadership must be a mirage, since he has consistently downplayed the benefit of increased domestic oil production.

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