| Bloomberg reported Monday that U.S. crude oil production hit 11 million barrels a day during the first quarter of this year, beating both Saudi Arabia and Russia. In fact, it looks like America is going to remain the world's top oil producer for the rest of 2014. The federal International Energy Agency has already predicted that America will replace the Saudis as the world's biggest oil producing country by 2020.
This begs a question. Why does this nation still have a Strategic Petroleum Reserve? Maybe it's time for this relic of Carter-era energy policy to get the heave-ho in the face of the realities of America's new era of energy -- and oil -- abundance..........................................Full Article: Source
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