Easing coal rules unlikely to make US energy independent

President Donald Trump said Tuesday he was ushering in "the start of a new era" in energy production by signing an executive order that seeks to block, reverse or review several of President Barack Obama's initiatives to limit climate change.

A new era in U.S. energy began a decade ago, when drilling companies used new techniques to extract vast amounts of natural gas and oil beneath Texas, New Mexico, North Dakota, the Rockies and other regions of the country.

"U.S. oil production nearly doubled under President Obama not withstanding increased regulatory efforts to address climate change," said Jason Bordoff, a Columbia University professor and former adviser to Obama on energy and climate change.

U.S. oil production bottomed out at 5 million barrels a day in 2008.

[...] it has nearly doubled, to 9.4 million in 2015, although if fell back to 8.9 million barrels a day last year because lower prices caused operators to shutter some wells.

Exxon Mobil Corp. is investing $20 billion through 2022 to take advantage of cheaper gas to expand its refining and chemical operations on the Gulf coast and export the fuel in liquefied form.