President Trump during Tuesday night’s State of the Union (SOTU) address, touted “a revolution in American energy” that has made the U.S. “a net exporter.”
While the President is definitely on the right track, he is roughly a year too early in his remarks, Kallanish Energy calculates.
“And we have unleashed a revolution in American energy. The United States is now the number-one producer of oil and natural gas anywhere in the world — and now, for the first time in 65 years, we are a net exporter of energy,” the President said.
While the U.S. became a net petroleum exporter in 2018 – it lasted just one week in November. Government analysts say it will be at least September 2020 before the country claims that title on a steady basis.
The U.S. is already a net exporter of coal and natural gas.
The U.S. has been the world’s top natural gas producer since at least 2009, according to the Energy Information Administration. And it surpassed Russia as the world’s largest crude oil producer in 2018 (although the U.S. has led the world when it comes to a wider array of petroleum hydrocarbons since 2013).
According to the latest EIA data, U.S. crude oil production stands at 11.9 million barrels per day (Mmbpd) — roughly 24% more than the 1970 peak of 9.6 Mmbpd.
The U.S. is certainly number one in the world: Saudi Arabia and Russia produce roughly 10.8 and 11 Mmbpd, respectively.
The U.S. is also the world’s biggest producer of natural gas, at roughly 770 billion cubic meters (Bcm) in 2017. The next biggest producers that year were Russia and Iran, at 694 Bcm and 209 Bcm, respectively.
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