A new report from the U.S. Energy Information Administration reveals that we’re on track in 2011 to export more petroleum products than we import for the first time since the 1950s, according to what I read in The Wall Street Journal.
There has been an unbelievable turnaround in our production of oil in because of new methods of extraction. We now have ability to produce so much more energy. If you take us, Canada and Mexico, we can be a completely energy independent bloc of countries.
We no longer need to be over the barrel that OPEC has historically had us over. We can become like the anti-OPEC! This is great news for our position in the world and our homeland security.
Then you factor in that Americans are choosing to buy more fuel efficient vehicles and you’ve got a slam dunk. More and more of us are turning our backs on midsized and larger SUVs in favor of compact SUVs and compact cars. That means a huge improvement in fuel economy in our new rides versus our old ones.
So the combo of using less fuel and our ability to produce more of it is the best news from a strategic and economic standpoint in a long time!