Now, once more. 10 years ago everyone would have laughed at this. And there is more where that came from.
America likely overtook Russia and Saudi Arabia in terms of oil output to become the world’s biggest producer earlier this year, according to the Energy Information Administration. U.S. crude output exceeded that of Saudi Arabia in February for the first time in more than two decades, based on preliminary estimates from the agency’s Short-Term Energy Outlook. In June and August, it overtook Russia for the first time since 1999.