Mar 12, 2024 - Energy & Environment

U.S. widens its lead in fossil fuel production

Data: Energy Information Administration; Chart: Axios Visuals
Data: Energy Information Administration; Chart: Axios Visuals

The U.S. now has a huge lead on Saudi Arabia and Russia as the world's largest oil producer.

Why it matters: Adapted from a new Energy Information Administration primer, the above graphic showing the U.S. producing more than any country in history is kind of an ink-blot test.

  • Backers of the U.S. industry see an economic driver that provides global leverage as exports rise too.
  • But climate groups are dismayed by growing fossil fuel development and say it cuts leverage in pushing other countries on energy transition.

What's next: Don't expect anyone to catch up in the foreseeable future, EIA notes, because no other country has so much production capacity.

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