In February 1995, The Brady Bunch Movie and Billy Madison were in movie theaters, “Creep” by TLC was at the top of the Billboard charts, and the Yahoo! search engine had not yet been unveiled. It was also the last month the U.S. produced more oil than it imported.
Until last month. During remarks in Cleveland yesterday, President Obama noted this historic milestone: in October, America produced more oil here at home than we imported from overseas.
The news comes from a recent report out of the Energy Information Administration (EIA), the agency within the Energy Department that is in charge of energy statistics. Not only did the report find that domestic production exceed imports for the first time in nearly two decades, but total crude oil imports were the lowest they’ve been since February 1991.
In part, due to our investments in alternative fuels, and more efficient or electric cars and trucks, we have every confidence that this trend will continue. With President Obama’s all-of-the-above energy strategy, we will persist in our research and innovation in sustainable, homegrown energy.
Read more about this on the White House blog.