During President Donald Trump’s State of the Union address recently, a strong revelation was made regarding oil and gas minerals. He announced the United States has surpassed countries like Russia and Saudi Arabia as the top producer of oil and natural gas worldwide. This is a remarkable achievement considering where production has been in recent years, and it’s a feat that hasn’t been accomplished in decades. However, there is still plenty of work to do to meet the demands of consumers.
Increased Crude Oil Production in The United States
The latest reports from the Energy Information Administration reveal crude oil production in the United States is at about 11.9 million barrels per day. To put this into perspective, the next two closest countries produce roughly 10.8 million and 11 million barrels each day. For even further context, the United States peaked in crude oil production in 1970 at about 9.6 million barrels per day, so to say production is at an all-time high would be an understatement. Experts believe if the production of oil and gas minerals continue increasing, it’s possible the United States will be a net exporter of energy within the next few years.
Consumption Still Exceeds Production
Even with the high production of oil and gas minerals, consumers still use more than is produced. It’s estimated that Americans consume about 20 million barrels of oil each day, leading to a deficit of roughly eight million barrels a day. Of course, this deficit is made up with imports, experts and natural gas liquids, but it’s still valuable to put the numbers into perspective, especially when it comes to mineral rights investing.
What This Means For Mineral Rights Investors
Mineral rights investors should find President Trump’s revelations very promising. The production of oil and gas minerals should lead to more mineral rights investing opportunities in the future. As the United States moves toward becoming a net exporter of energy, it’s important to understand the impacts this could have on Oklahoma minerals from an investing perspective. The outlook is very fluid but also promising at the same time.
Eckard Land & Acquisition is an investment company that focuses on everything dealing with mineral rights. We work with investors and investment companies to build their energy portfolios by constantly monitoring the production of oil and gas minerals and recommending the best course of action to take. We will educate our investors by providing an abundance of resources and knowledge to help make the best decisions based on their risk tolerance. If you have any interest in mineral rights investing after hearing the State of the Union address, contact us to see how we can help enhance your investment portfolio.