More than a century ago, the U.S. was the largest producer and exporter of hydrocarbons, and in the late 1950s and early 1960s, the country was considered a net energy exporter, producing and shipping more than it imported. However, as most know, extreme growth in U.S. domestic consumption and declining production eventually led to the U.S. becoming the world’s largest importer of petroleum and also to the banning of crude oil exports.

Today, the U.S. is seeing a picture much like that of the ’50s and ’60s. Thanks to advances in horizontal drilling and technology improvements in hydraulic fracturing, the country is once again a major oil and gas exporter.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access