Someone please explain to me how the oil production can be up so much under this admins anti-carbon policies? I believe it is up or the gas prices would be even higher than they are currently, but I dont see how they could be at record levels, otherwise we would be at Trump gas prices.
I am dubious.
Two issues - Exports and Refining Capacity.
The USA always exported refined products like gasoline and diesel. We supply half of South America and the Carribean with gasoline. But, the amount of refining capacity needs to be increased.
Now, we are also exporting crude oil.
This is all by design. Get oil prices to come down before the election to make Joey look good.
Fracking on private property developed to offset restrictions and regulations, which has helped boom oil production. Joe Biden is the most bullish oil president we've had, thanks for such restrictions. Kinda like the war on drugs. Throw in that the GOP forced Obama to lift oil our oil export ban, which has helped spur more production.
Exactly.
One has to wonder where all the oil is being funneled to.
With this administration nothing would be a surprise.
Gas prices are declining, but obviously demand has surged from COVID lows.
Yep, something doesn’t add up.
Operating Refineries
2020 - 131
2023 - 124
Operating Barrels per Day
2020 - 18,548,985
2023 - 17,684,549
Source:
https://www.eia.gov/dnav/pet/pet_pnp_cap1_dcu_nus_a.htm
It’s a win-win for our Deep State.
Aid and abet its foreign cronies while impoverishing the American middle class.
https://www.freightwaves.com/news/americas-energy-boom-crude-exports-soar-to-record-high
https://www.ny1.com/nyc/all-boroughs/politics/2023/11/03/u-s—increases-coal-exports-to-europe
https://finance.yahoo.com/news/1-us-natgas-prices-gain-203453945.html