The United States is almost exporting more oil than some OPEC countries and as a result of this, net imports of crude oil this year will fall to their lowest levels since 1958.
The world oil market and especially the domestic market has undergone positive transformations for the country life thanks to the America’s Generation Energy participation and its cutting-edge innovations. Under its guiding principle the US energy perspective is more solid than ever.
These insights are part of the ninth annual State of the Energy address in the United States, in Washington, by Mike Sommers, president and CEO of the American Petroleum Institute (API), The event covered the American economic leadership and was attended by more than 400 government, labor and industry leaders.
According to Sommers the net oil imports this year will fall to their lowest levels since 1958 and in a short time the United States will export more oil than some OPEC countries produce. That tremendous change in the global balance of energy can be felt in the communities across the country by cutting family budgets and recovering manufacturing jobs.
The data provided by Sommers was endorsed and disclosed in advance by Bloomberg LP Limited Partnership, the US company that offers financial, data and news about software: The United States can now proudly say that it has become a net exporter of oil and petroleum products for the first time in 75 years.
In the framework of the State of Energy in the United States, Sommers showed the audience very interesting data. Among other things he highlighted the record energy production of the USA and also innovation work which generated significant reductions in CO2 emissions at their lowest level in a generation.
Translated by: José Espinoza