Posted on 10/22/2023 2:58:52 PM PDT by Round Earther
As the global oil market focuses its attention on the oil-supply risks tied to the war between Israel and Hamas, U.S. production has climbed to its highest level on record and it's expected to continue its rise next year.
That's a "testament to the ingenuity of the U.S. oil-and-gas industry," said Phil Flynn, senior market analyst at The Price Futures Group.
The industry has faced a "harsher regulatory environment" under the Biden administration, which has plans for three oil and gas lease sales over the next five years. That would be the smallest number of lease sales offered in U.S. history.
Total U.S. petroleum production climbed to 13.2 million barrels a day as of week ended Oct. 6, according to the Energy Information Administration -- the highest figure based on data going back to 1983. The latest data released Wednesday showed output remained unchanged at that level for the week ended Oct. 13.
(Excerpt) Read more at morningstar.com ...
finally back to Trump levels.
Most people are driving EVs so we use a lot less gas now. /sarc
Didn’t everyone here think that would be impossible under Biden?
If Meatbrain hasn’t nixxed ANWR oil production we could add a million or so to the total.
So far as I know, the pipelines currently ready to be used are being used.
Biden never open the one he shut down and stopped construction of the other one that laid off 12,000 people.
He’s crazy Jim
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