U.S. the World’s #1 Oil Producer
- The United States is likely the world’s largest producer of crude oil, according to preliminary estimates by U.S. Energy Information Administration (EIA) released this week.
- The Lone Star State of Texas is on track to produce more oil than either Iran and Iraq, making Texas the third largest producer in the global landscape.
- With the lift of the 40-year ban by Congress to export crude oil in 2015, the U.S now exports to South America, Europe and China; this could potentially just be the beginning of the U.S. energy renaissance.
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