We have halved our National reserves which is expected to take DECADES to refill annnnnnnnnnnnnd quite a few of our energy is going OUT OF THE COUNTRY TO EUROPE.
We have halved our National reserves which is expected to take DECADES to refill annnnnnnnnnnnnd quite a few of our energy is going OUT OF THE COUNTRY TO EUROPE.
We could literally have 80 cent per gallon gas...Which would boost all industries.
But they are going to starve us and break us first so we beg to be saved by them.
If you are looking at your 401K or land holdings as a success, then I hope you are honest enough to understand that idiot is about to sink the entire ship.
U.S. crude oil production is expected to average 12.4 million barrels per day in 2023, surpassing the previous record of 12.3 million barrels per day in 2019. These forecasts, offered by the U.S. Energy Information Administration, include increased production in the Permian region and the Federal Offshore Gulf of Mexico.[1]
The U.S. is on track to recover all the decreases in production that occurred during the Covid-19 pandemic, when demand for oil collapsed along with its price. The low price of oil caused energy companies to slow production and close their least profitable wells, resulting in an 8% drop in oil production for 2020, the highest annual decrease on record. Following the easing of travel restrictions and a rebound of global demand, U.S. oil output is close to surpassing pre-pandemic levels. [2]
The cost to ship oil is inconsequential…which is why it is a global market. Natural gas is what gives North America a competitive advantage because shipping is expensive but thanks to Putin the cost of shipping natural gas in the form of LNG is falling. Tillerson/Qatar and Putin have successfully created a global LNG this century.
We are NOT producing record amounts of energy.
We have halved our National reserves which is expected to take DECADES to refill annnnnnnnnnnnnd quite a few of our energy is going OUT OF THE COUNTRY TO EUROPE.
https://www.eia.gov/energyexplained/natural-gas/imports-and-exports.php
We could literally have 80 cent per gallon gas...Which would boost all industries.
But they are going to starve us and break us first so we beg to be saved by them.
If you are looking at your 401K or land holdings as a success, then I hope you are honest enough to understand that idiot is about to sink the entire ship.
U.S. crude oil production is expected to average 12.4 million barrels per day in 2023, surpassing the previous record of 12.3 million barrels per day in 2019. These forecasts, offered by the U.S. Energy Information Administration, include increased production in the Permian region and the Federal Offshore Gulf of Mexico.[1]
The U.S. is on track to recover all the decreases in production that occurred during the Covid-19 pandemic, when demand for oil collapsed along with its price. The low price of oil caused energy companies to slow production and close their least profitable wells, resulting in an 8% drop in oil production for 2020, the highest annual decrease on record. Following the easing of travel restrictions and a rebound of global demand, U.S. oil output is close to surpassing pre-pandemic levels. [2]
We could raise the output even another 40%...But a lot of that is being exported.
So it's a moot point how much we produce...What matters is HOW much is being left at home?
https://www.reuters.com/business/energy/us-crude-stocks-fall-latest-week-exports-refinery-runs-eia-2023-07-19/
The cost to ship oil is inconsequential…which is why it is a global market. Natural gas is what gives North America a competitive advantage because shipping is expensive but thanks to Putin the cost of shipping natural gas in the form of LNG is falling. Tillerson/Qatar and Putin have successfully created a global LNG this century.