WASHINGTON, July 8 (UPI) -- The United States needs the right rules in place to take full advantage of its energy leadership position, the chairman of a House energy committee said.
Rep. Fred Upton, R-Mich., chairman of the House Energy and Commerce Committee, said a recent report from Bank of America indicated the United States has passed Saudi Arabia in terms of oil production.
"Now that we have emerged as an energy superpower, the next step is ensuring we have the right policies in place to take full advantage of our energy leadership," he said in a statement Monday.
Data through 2012 from the U.S. Energy Information Administration show the United States at the No. 2 position behind Saudi Arabia. For that data set, the United States was behind Saudi Arabia by less than 600,000 barrels per day.
EIA reports on June monthly data later this week. In a weekly petroleum report, EIA said the United States produced 8.4 million bpd for the week ending June 27, a 16 percent increase year-on-year.
Upton said he's supporting legislation proposed in the House that would facilitate North American energy developments.
"It is now time for the Senate to take up these commonsense measures and say yes to America's energy potential," he said.