USA breaking the 10 million barrels per day threshold within days!
Our oil production is now double what it was ten years ago.
For oil and gas combined, the USA is already the world's largest producer - and we are rapidly on the way to becoming the world's largest producer of each individually. The areas (ANWR and offshore) that Trump is opening for exploration and production are the biggest in American history, and will produce for decades to come (after they are developed, which will take a decade).
"Top U.S. oil firms such as Exxon Mobil and Chevron a decade ago turned much of their focus to foreign fields, leaving smaller firms to develop U.S. shale. Now they’re back, buying shale companies, land and shifting more investments back home from overseas."
We are quickly becoming a (the) major force in the international oil and gas markets, as our new production increasingly goes toward exports - going from energy self-sufficiency toward Trump's goal of Energy Dominance.
Those 'few', of course, being anyone who was actually paying attention.
That isn't what the MSM was saying 6 or 7 years ago. Back then, extracting shale oil was allegedly poisoning people and causing earthquakes, and wasn't going to amount to much production anyway.
“We can’t just drill our way to lower gas prices.” - Barry Obama
well, my sil tells me with every...single...phone call how much money she’s getting....every...single...time....
We should be using our low cost energy, raw materials and resources inside the USA to manufacture products at low cost. Exporting raw materials or energy is never an effective way to build an strong economy.
WINNING BIGGLY!!!!! Covfefe and MAGA!!!!
Meanwhile, dimwitted schmucks Cuomo and Murphy screech that they will stop drilling offshore of NY and NJ.
Clearly Putin moles, trying to prop up Gazprom oil prices!!
INVESTIGATE Cuomo/Murphy Russian COLLUSION!!!
Good for the USA!! I just hope it will lower gas prices for more than just a week or two.
Families need relief from the continual high prices of food and gas.
If Lea County, New Mexico was a state, we would be #7 in US crude oil production [NM is #3].
I seem to remember that there was a contingent here on FR that were all about “peak oil” about a decade ago. Where are those guys now?
Hopefully the technology will continue to improve. It is a pity that Mexico doesn’t have the rule of law; they could benefit so much from this boom.
All the while, oil prices continue to climb...yeah, go figure.
Yet we still pay $2.25/gallon. Why?