Just six years ago the US imported 60% of its oil. Today it’s down to 40%, and continuing to decline, according to the Wall Street Journal. It’s really quite amazing what incentive, technology and freedom are able to accomplish.
U.S. crude imports fell 9.2% in October from a year earlier to 8.091 million barrels a day, the lowest amount of imported crude since January 2000, according to U.S. Department of Energy data released today .The data are the latest illustration of how the drilling boom in North Dakota and other states is remaking the U.S. energy picture.
Remaking, indeed. It’s a total restructuring of the world’s economy. In the past the US has been increasingly dependent upon the Middle East and other producers to keep the lights on. And this has had enormous