"Relying less on imported oil, combined with the soft global market, gives the U.S.an expanded foreign-policy menu. So if Trump wants to capture Venezuela's leader - or threaten and bomb Iran - he can do it with much less risk in spiking pump prices at home. Catch up fast: The U.S. has nearly tripled oil production over the last 15-ish years, thanks to fracking unlocking vast reserves of oil and natural gas in shale rock formations in Texas and several other states."
"The U.S. is now - by far - the world's top producer at nearly 14 million barrels per day. "The shale revolution has certainly brought a sense of confidence and security that wasn't there when the U.S. was the largest importer of oil," oil historian and S&P Global vice chairman Dan Yergin said in an interview. Venezuela's output, by comparison, is 800,000 to 1 million barrels a day. Flashback: When the Venezuelan government expropriated Exxon's and ConocoPhillips' assets in 2007, the U.S. produced around 5 million barrels per day. Then the shale boom took off."
Relying less on imported oil and a soft global market allow the United States greater foreign-policy flexibility with reduced domestic price risk from overseas actions. U.S. crude output has nearly tripled over about 15 years due to fracking in shale formations, making the United States the world's largest producer at roughly 14 million barrels per day, far above Venezuela's 800,000–1,000,000 barrels. Energy security has increased confidence, but modest global prices and investment risks complicate rebuilding production in unstable countries. U.S. producers still pursue foreign opportunities in the Middle East, Latin America, and North Africa as shale growth plateaus and demand rises.
Read at Axios
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