Long Term US Oil Production Has To Free US From OPEC

[ed odowd]

In January 2020 US oil production was 12.8 million barrels per day (BPD).By May 2020 it declined to 9.7 BPD and now has increased to 11.3 BPD.The US went from 13million BPD imports in 2005 to a million BPD exports in 2020..Currently US imports about 1.3 million BPD.The good news is the oil rigs drilling is up to 445 from 200 in summer of 2020.In January 2020 700 rigs were drilling.We need to get our production back to pre pandemic levels to get away from OPEC oil production leverage.

 

[SHUMA04]

In January 2020 US oil production was 12.8 million barrels per day (BPD).By May 2020 it declined to 9.7 BPD and now has increased to 11.3 BPD.The US went from 13million BPD imports in 2005 to a million BPD exports in 2020..Currently US imports about 1.3 million BPD.The good news is the oil rigs drilling is up to 445 from 200 in summer of 2020.In January 2020 700 rigs were drilling.We need to get our production back to pre pandemic levels to get away from OPEC oil production leverage.

Great news for America, home of the world's largest domestic reserves of oil plus gas plus coal (largely priced in USD on global markets).

In case people haven't figured it out: "Global Energy Transition" = "Transition away from USD as global reserve currency."

Think about what that means for American prosperity, living standards and national security before hopping on the COP26 bandwagon.

 

[afghan whigs]

Biden's Energy Secretary laughs at rising gas prices.

GOP tears into Granholm for laughing at gas price question

Republicans knocked Energy Secretary Jennifer Granholm on Friday for laughing when asked about the 'Granholm plan to increase oil production' in response to rising gas prices.

www.dailymail.co.uk