U.S. oil production headed for 20-year high

As predicted, oil production in the United States hit its highest level since 1994. Production is on pace to have its highest year since 1991.

From Bloomberg:

Output swelled by 8,000 barrels to 6.68 million barrels a day in the week ended Nov. 2, the Energy Department reported today. It was the most since Dec. 23, 1994. Improvements in horizontal drilling and hydraulic fracturing, or fracking, have unlocked fuel trapped in deep underground rock formations in states such as North Dakota, Texas and Oklahoma.

EIAOil production since the 1920s, in case you were wondering. Click to embiggen.

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Basically everything the president’s opponents said on the campaign trail about his energy policy was wrong. And by “wrong,” I mean, “the election is over so who cares anymore.”