America is winning the energy game: Varney
America’s fracking revolution has truly changed the world: Varney
FBN’s Stuart Varney on America’s mounting energy dominance globally.
Energy news flash: the price of gas keeps falling. The national average is down to $2.68 per gallon per AAA. It's a joy to see station owners changing the signs every day at the gas station. This is happening because the price of WTI oil, which tracks the U.S. market, has dropped to $55 per barrel as of Tuesday.
And why is that happening? Because America is pumping out energy at an astonishing rate and this surge is not over. No less an authority than the International Energy Agency [IEA] says half the growth in oil and gas output will be coming from America by 2025.
In plain English: America's fracking revolution is changing the world.
We go after the oil and gas that is trapped in shale deep under the ground with technology invented to release the energy. And that has help make America the dominant energy power. Half the extra oil and gas produced is now coming from America – Who wouldda thought!
A few short years ago, our production was falling and imports are rising. Now we're pumping 11.6 million barrels of oil a day, and Interior Secretary Ryan Zinke, on this program, forecast 14 million barrels a day very soon.
And think what would happen to our production levels if states like New York joined the fracking club?
The bottom line here is this: the Trump team got out of the frackers' way and encouraged drilling.
The move has taken off and is helping America become the dominant energy power. It is a Trump win. It is an American win.
Stuart Varney joined FOX Business Network (FBN) as an anchor in 2007 and is the host of Varney & Co.(weekdays 9 AM-12 PM/ET), the highest rated market program on television.Varney also serves as a business contributor and substitute host for FOX News Channel's (FNC) Your World with Neil Cavuto. Since joining FNC's business team in 2004, Varney has contributed to the network's weekday and weekend business programming including Your World with Neil Cavuto and Fox & Friends.