How has the US become the largest oil producer of all time?

In 2018 , the United States of America became the largest oil producing nation in the world, producing 12.3 million barrels a day.

Despite a turbulent period during the COVID-19 pandemic when the oil prices temporarily went negative, production in the US is continuing to grow.

In just a decade , US production levels have leapfrogged those of geopolitical components, Russia and Saudi Arabia rapidly transitioning from import dependence to becoming the dominant global oil superpower.

Despite producing more oil than it consumes, the US strangely remains the second largest importer of oil in the entire world.

Fracking oil production in the US increased by 258% from 2008 to the present day .

Texas has continued to break all time production high since growth began in 2010 , with output increasing fivefold since then.

Despite all of this, the USA is still one of the largest importers of crude oil in the world, with only China importing more.

Exxon Mobil and Chevron , the two largest oil companies in the US , are making the highest levels of profit they've made in the last decade .

Oil wealth by itself doesn't guarantee economic prosperity in the States .

The resource is finite, and shale rock formations will at some point become exhausted.