The tsunami of U.S. petroleum production has been underway for several years, but last month it reached a tipping point. Global oil production plunged in March thanks to steeply lower OPEC output… while America’s production soared to a 26-year high.
This massive shift in energy supply has huge implications for your portfolio.
Our Exports Are Now Double Our Imports
U.S. exports of gasoline, diesel and other petroleum products jumped to a record 4.3 million barrels per day (bpd) at the end of last year, according to the Energy Information Administration (EIA). That’s more than twice the 2.1 million bpd of petroleum products that the U.S. imported.
As a result, total U.S. net imports of energy declined last year to their lowest level in more than 20 years!
Thanks to hydraulic fracturing, U.S. oil production set a 26-year record in