Posted on 03/08/2021 5:31:15 AM PST by Presbyterian Reporter
The Energy Information Administration reported that December crude oil production fell by 58,000 barrels per day, averaging 11.063 mmbd. This follows a 682,000 b/d rise in November. The December 914 figure compares to the EIA’s weekly estimates (interpolated) of 11.100 mmbd, a figure that was 37,000 b/d higher.
Drops in production were experienced in New Mexico (42,000 b/d), North Dakota (38,000 b/d), and Texas (34,000 b/d). But output in the US Gulf Coast rose by 70,000 b/d.
(Excerpt) Read more at ino.com ...
On November 4, 2020 crude oil was $40.00 per barrel.
Today, crude oil is selling at $66.00 per barrel.
So far Biden has stopped the Keystone Pipeline, stopped oil exploration on Federal Lands, and has generally implemented a policy to destabilize the Middle East.
Again, Biden voters (legal and illegal) enjoy the New World Order, Great Reset, or whatever Biden calls his new policy of increasing the price you pay for gasoline.
And let add for those who are invested in the oil company stocks.
Chevron (CVX) was $71.77 on November 4, 2020.
Chevron is selling for $109.60 in early trading this morning.
Thanks Biden.
It will be interesting to compare June 2019 numbers with June 2021 numbers. Total US production will be down, price per barrel will be up. Iran, Saudi Arabia and Russia will be happy. The American consumer not so much.
My husband has a part time job where he works at golf course to play free golf. I told him the time is coming where gas costs will make it cheaper just to go play a few times a week and skip the extra days driving there to “work.”
Yup. I didn't go with oil companies but an index that follows the price of light crude. It's been a gold mine.
Of course the price for that is watching my country get ruined by these fools, so it's something of a "pyrrhic" gain.
Let’s look at the production numbers from February when available. Took $48 to fill my truck today. Another form of massive Uniparty/Globalist taxation.
And we’re just starting to factor in the impact of Iranian/Houthi attacks on Saudi production facilities. The last time they hit a Saudi oil complex (2019), production dropped by 5 million barrels a day, and prices surged by 20%. Of course, we were at/near max production at the time. Now, domestic production is down slightly, so another gas price hike is likely, depending on the severity of the damage, and how quickly Aramco can repair it.
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