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To: Renfrew
"we are now a net oil producer and no longer need to depend on tyrants who hate us.

I doubt we are a net oil producer now with Biden's Leftnik's creating policy to destroy our oil independence. We will have to re-elect Trump to put us back on track.

20 posted on 12/12/2022 6:57:03 PM PST by jonrick46 (Leftnicks chase illusions of motherships at the end of the pier.)
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To: jonrick46

The US doesn’t, but the whole rest of the world does. Saudi stability is a bit important. And the Persian Gulf too.


54 posted on 07/20/2023 2:37:55 AM PDT by buwaya (Strategic imperatives )
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To: jonrick46

The US is again a net oil producer, just about at the level of 2019. Production steadily improved since the end of Covid problems. Arguably the Biden admin hindered even greater production increases, but it increased anyway.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M

However, that does not mean that the US is immune from global prices, which a lot of people miss. US oil is also traded on global markets. So if oil spikes globally it will happen in the US too.

If one were to try to prevent US domestic prices from rising with global prices, such as by banning US oil exports, that will handicap US production. That sort of price control was the problem that reduced US production and hooked the US on imports in the first place.


56 posted on 08/13/2023 10:11:34 PM PDT by buwaya (Strategic imperatives )
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