The oil production in the United States has increased sharply, and it is expected to be energy independent

The oil production in the United States has increased sharply, and it is expected to be energy independent. The New York Times reported yesterday that with the support of Washington’s energy policy and the advancement of drilling technology, the United States’ oil and gas production has increased in recent years...

The New York Times reported yesterday that with the support of Washington’s energy policy and the advancement of drilling technology, the United States’ oil and gas production has successfully reversed the decline of the past 20 years. For the first time in the past half century, the United States is expected to become “energy independent” and no longer rely on imported crude oil. Oil production is even expected to catch up with major oil-producing countries such as Saudi Arabia in the next 10 years. Analysts pointed out that the United States wants to use energy independence to reshape the global strategic landscape. The most important thing is that it no longer needs to be controlled by the oil-producing countries in the Middle East. The diplomatic capital of many oil-producing countries is facing weakening. The influence of the anti-American camp headed by Venezuela and Iran in the oil group is expected to weaken.

Data from Washington show that U.S. oil production has declined in the past 20 years, from 9.6 million barrels per day in 1970 to 4.95 million barrels per day in 2008. However, due to the decline in the mid-2000s, Affected by the rise in oil prices in the future, the George W. Bush administration implemented policies conducive to the development of the oil and gas industry during his tenure, including accelerating the approval of permits for domestic oil and gas exploration. The Obama administration also continued similar policies to combat high oil prices and laid the foundation for increasing oil production. Coupled with technological improvements in oil and gas extraction, U.S. oil production has increased significantly in recent years, rebounding to 5.7 million barrels per day in the past four years. The Ministry of Energy estimates that domestic crude oil production can increase to 7 million barrels per day in 2020, and some experts even believe that it is expected to produce 10 million barrels per day, in line with the major oil producing countries of Saudi Arabia. As for natural gas, which was once worried about running out of reserves 10 years ago, production has increased significantly in recent years and is even seeking to be exported to Europe and Asia.

At the same time, affected by high gasoline prices and the economic recession caused by the financial tsunami, Americans have switched to high-energy-efficiency vehicles and reduced driving in recent years, resulting in a significant reduction in gasoline consumption. With the supply greatly increased and consumption reduced, the United States is moving towards the goal of "energy independence" advocated by President Nixon in the 1970s when he faced the global energy crisis. In 2011, US liquid fuel imports accounted for only 45% of total usage, a significant decrease from the historical peak of 60% in 2005. In the past three years, the United States has also reduced its crude oil imports to the Organization of the Petroleum Exporting Countries (OPEC) by 20%. It has become a net exporter of refined petroleum products (including gasoline) for the first time since the era of President Truman.

Energy and environment expert Michael A. Levi believes that the United States' move towards energy independence and reducing its dependence on imported energy will give greater flexibility to national security policies and have a profound impact on the world situation. Some people in the oil industry even described energy independence as "the greatest achievement of the United States in a century." "Compared to the coal-burning power of the industrial revolution in the 19th century, we can use the cheapest energy in the world to drive the economy." However, Jay Hakes, a former senior official at the Department of Energy, believes that although energy independence can bring many economic and national security benefits, it is definitely a challenge to deal with environmental issues, such as air and water pollution. In addition, crude oil prices are still affected by global factors, such as supply fluctuations in Africa, the ongoing nuclear issue in major oil-producing country Iran, and increased energy demand due to global recovery, which may keep international oil prices high. The long-term impact of the increase in U.S. oil and gas production is still difficult to predict.