POLITICS: PennAve

US oil production outstrips imports for first time since 1995

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White House,Energy Department,United States,PennAve,Energy and Environment,Jay Carney,Zack Colman,Oil

The United States produced more oil than it imported in October for the first time since 1995, the Energy Information Administration said Wednesday.

The Obama administration touted the announcement, as White House press secretary Jay Carney credited investments in biofuels and electric vehicles with more stringent vehicle fuel-efficiency standards.

"This milestone is the result of both increased production and administration policies, like increased fuel economy standards that cut oil production, cut carbon pollution and cut consumer bills," Carney said at a press briefing.

In all, production hit 7.7 million barrels per day — the highest October rate in 25 years — compared with imports of 7.6 million barrels per day.

The American Petroleum Institute, however, took a shot at the White House, noting oil production on federal land has dipped under President Obama.

In a sentiment echoed by congressional Republicans, Kyle Isakower, the oil industry trade group's vice president of regulatory and economic policy, slammed the administration for keeping too much federal land off-limits to drilling.

"Domestic oil and natural gas production is only on the rise thanks to development on state and private lands," Isakower said.

That's also largely because a majority of the shale plays that have given birth to the domestic energy boom rest on private and state lands, which the administration has used to defend its policies.

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