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Thursday, January 2, 2020

U.S. Becomes Net Exporter of Petroleum

Joe Biden wants workers in the energy field to learn to code, because he's coming after "big oil." The Democrats seem to have been a war with the energy guys for a long while now.

In the meantime, the oil and gas companies are winning. In September 2019, the U.S. exported 89,000 barrels per day more than it imported, the first time the country exported more than it imported since 1973.

As recently as 10 years ago, the U.S. imported 10 million barrels per day more than it exported.

The positive trade balance could grow over time due to flat demand and ongoing increases in domestic production, according to Oilprice.com Intelligence Report.




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