This might be one of the reasons why Nancy Pelosi doesn’t want Trump to give his State of the Union Address. The EIA is now saying America is on track to energy independence by 2020. This is fantastic news.
The Daily Caller reports:
US TO ACHIEVE ENERGY INDEPENDENCE BY 2020, EIA SAYS
The U.S. will become “energy independent” by 2020, according to a new Energy Information Administration (EIA) forecast released Thursday.
EIA projects American crude oil production will “set annual records through the mid-2020s and remains greater than 14.0 million barrels per day (b/d) through 2040” and the country will be a net exporter of petroleum liquids by 2020.
The U.S. briefly achieved net petroleum exports in November, but that was temporary. However, EIA now predicts that to become a net petroleum exporter — crude oil, refined products and other liquids — by 2019.
Along with crude, EIA forecasts the U.S. to be a net-natural gas and coal exporter through 2050. Dry natural gas production is projected to climb as more drillers tap into resource-rich shale formations, particularly in the eastern and southwestern U.S.
“U.S. liquefied natural gas (LNG) exports and pipeline exports to Canada and to Mexico increase until 2030 and then flatten through 2050 as relatively low, stable natural gas prices make U.S. natural gas competitive in North American and global markets,” EIA reported.
It’s good news for President Donald Trump’s “energy dominance” agenda. The administration has rolled back Obama-era energy regulations in hopes it would boost production.
This is not only great for our economy, it’s a massive win for national security. It means we don’t have to rely on any hostile nations for our energy needs.