Since the revolution in shale oil production began, total U.S. crude production has now doubled. Never in its history has the domestic oil industry produced as much oil as it now does every day. In 2017, U.S. net imports of crude oil amounted to just 19 percent of the country's daily consumption. None of this happened by accident - it has taken place due to a combination of human ingenuity, good public policy and the luck of geology. Finally, the Trump Administration's rollback of some of the most excessive Obama-era regulatory actions has also helped enable the current industry boom times.

Source: Forbes September 13, 2018 15:06 UTC