Drill Baby Drill? U.S. to Overtake Russia on Oil by 2019 Drill Baby Drill? U.S. to Overtake Russia on Oil by 2019 – NTK Network

Drill Baby Drill? U.S. to Overtake Russia on Oil by 2019

As the U.S. and Russia jockey for political capital around the world, the U.S. is set to leapfrog Russia on a key metric – oil production – by 2019.

By NTK Staff | 02.27.2018 @1:00pm
Drill Baby Drill? U.S. to Overtake Russia on Oil by 2019

The U.S. will surpass Russia as the top oil producer in the world by 2019, according to the International Energy Agency (IEA).

Reuters reported:

The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil boom continues to upend global markets.

…“U.S. shale growth is very strong, the pace is very strong … The United States will become the No.1 oil producer sometime very soon,” he told Reuters separately.

Energy production and energy exports both factor in to the political capital countries have around the world, which may give the U.S. a further leg up on Russia as it seeks to push back on its Cold War rival’s influence in the Middle East, eastern Europe, and around the world.

NTK Network reported in January that oil production in the U.S. was reaching all-time highs, and that oil-friendly policies from the Trump administration played a role.

The Trump administration’s “oil-friendly” policies have compounded the fracking boom. The Post writes that GOP efforts may push oil production even higher[.]

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