President Donald Trump shared a report on global oil production on Tuesday which shows that the United States will become the largest oil producer in the world by 2023.
The International Energy Agency said on Monday that the United States is expected to produce a record 12.1 million barrels per day in 2023, up from 10.6 million this year. America will surpass Russia, which currently produces 11 million barrels per day, according to the IEA.
“We are getting it done - jobs and security!” Trump tweeted in a message along with the Wall Street Journal report.
“I think the default should be that all of our offshore areas should be available,” Thomas J. Pyle, president of the American Energy Alliance, told New York Times. “These are our lands. They’re taxpayer-owned and they should be made available.”
Obama’s proposal banned drilling in 94 percent of the outer continental shelf, the area between state coastal waters and the deep ocean. The United States lost billions of dollars as a result, Zinke said, adding that Trump’s proposal would open up 90 percent of all leasable waters.
The United States was once reliant on oil imported from the Middle East to meet domestic demand but is now getting closer to its goal of producing enough oil for domestic needs for refined products like gasoline.
“The No. 1 overall message, non-OPEC supply growth is very, very strong, which could change the parameters for the oil markets in the years to come, led by the United States, but also Brazil, Canada and Norway,” IEA Executive Director Fatih Birol said Monday according to the Journal.
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