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The United States will overthrow Saudi Arabia, which is the world's largest oil exporter, for the first time in more than six decades.
According to Rystad Energy, at the end of this year, the United States will be better positioned than the Middle East country for the export of oil and other energy products, such as natural gas liquids and petroleum products.
This is the first time the United States has taken such a step since Saudi Arabia began selling oil to other countries in the 1950s.
"It's nothing short of remarkable," energy strategist Ryan Fitzmaurice told CNN. "Ten years ago, nobody thought it could happen.
Roughly, this shift in power has been attributed to what the experts call the "shale boom", making Texas the epicenter of the American oil trade.
The profound change in energy has largely been attributed to the "shale boom", thanks to technological advances. Sites such as the Permian Basin in western Texas have become the epicenter of production
Technological breakthroughs have also played their role, with drilling innovations helping to access huge quantities of oil trapped in shale oil fields across America.
By focusing on shale-based fuel – a sedimentary rock rich in organic matter – oil production in the United States has doubled in the last 10 years.
Ryan Fitzmaurice called the "important milestone" of the United States, insisting that no one would have predicted it would be possible ten years ago
And with record production in the Permian Basin, in western Texas, the United States now pump more oil than any other country, including Saudi Arabia and other similar powers. , Russia.
"The shale boom has resulted in an incredible increase in production," Fitzmaurice told CNN. "US production is off the charts."
In 2015, Congress put an end to a 40-year oil export group, which resulted in an explosion of international sales. The US Gulf Coast states are now using more infrastructure to meet the ever-growing demand for US crude oil.
"Excess fossil fuels from America will find a lot of enthusiastic buyers in this fast-growing Asia," Rystad said in his report.
In Saudi Arabia, oil exports currently account for about seven million barrels of crude oil per day, as well as two million barrels of natural gas liquids and petroleum products.
In contrast, the United States exports three million barrels of oil and five million barrels of oil and gas.
But according to Rystad, the current disparity between the two will disappear by the end of the year. Saudi Arabia, however, will remain the world's largest exporter of crude oil.
With the focus increasingly on shale – a sedimentary rock rich in organic matter – US oil production has doubled over the last decade
By 2020, the United States is expected to export more energy than it imports for the first time since 1953.
The Permain Basin is considered to be the center of the success of the shale boom in the United States, where developing technology allows companies – such as BP and ExxonMobil – to drill cheaply at lower prices.
Exxon is now announcing plans to produce more than 1 million barrels of oil per day from Permain, by 2024.
"More and more profitable shale production and a strong global appetite for light oil and gasoline should bring the United States to a dominant position in the oil market in the coming years," says the report. Rystad.
Such domination will allow the United States to be more autonomous than ever before.
Vice President Mike Pence was not worried by warnings that the increase in oil production would cause irreparable damage to the environment when he appeared at the Ohio Oil meeting and Gas Association Friday.
The Department of Energy predicted that by 2020, the United States will export more energy than it imports for the first time since 1953.
However, environmental experts believe that this unprecedented prosperity poses "catastrophic" problems for the climate.
On Friday, however, the Trump government did not seem to be in sync with the projections, as Mike Pence appeared before the Ohio Oil and Gas Association's annual meeting to hail the US's future global oil dominance. .
The Vice President also took the opportunity to criticize the "Green New Deal" of Democrats, backed by personalities like Alexandria Ocasio-Cortez.
"The only thing that is green with the Green New Deal is how much it will cost us all," he said with an ironic smile.
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