The United States has become a major exporter of crude oil since President Trump took office, sending a record 7 billion barrels into the world market last week. Like all of President Trump’s campaign promises, his plan to create “complete American energy independence” and ban Saudi Arabian oil from the U.S. market is being fulfilled ahead of schedule. During the election campaign Trump vowed to secure U.S. energy independence from “our foes and the oil cartels,” and predictably the Saudis, major donors to the Clinton campaign, were not happy with this plan. Saudi oil minister Khalid Al-Falih warned Trump that banning Saudi oil could “seriously damage” the U.S. economy. “At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,” Saudi Energy Minister and Aramco chairman Khalid Al-Falih told the Financial Times. But the Saudi energy minister’s threats of serious damage to the American economy could not be further from the truth. When it comes to oil production in recent years, the U.S. is right behind Saudi Arabia. Production of quality “light sweet oil” is booming and Trump is turning America into a major exporter. There is simply no need [...]
The post Breakthrough: US Becomes Major Oil Exporter Under Trump appeared first on Your News Wire.