I'm calling this fake news. I searched the Fox News website and I don't see any mention of us producing record amounts of oil
I think there is a meaningful difference. Republicans are circling the drain suggesting any effort to diversify from oil is anti American and futile. The Democrats are obviously not hindering oil production except where there are environmental issues and are pushing investments in alternative energy sources so we don’t find ourselves in trouble in a few years. One sounds logical. The other crazy. Maybe that’s just me.
Not to ruin the party but Seems the cnbc peeps disagree with crediting Biden and they are crediting Texas and their loosening of regulations for the increase in oil production. Big Oil isn't back all over America: Production is still down sharply in Oklahoma and North Dakota. It hasn't changed much in Alaska, where production is in a long-term tailspin. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Instead, the surge is concentrated in the Permian Basin region of Texas and New Mexico, where production costs are among the lowest in the country, said Alexandre Ramos-Peon, head of shale well research at Rystad Energy. Oil from the Permian Basin costs an average of $42 a barrel to produce, he said, with North Dakota in the high $50s to $60. North Dakota is also hampered by weaker access to pipelines than the Permian Basin, where many producers can use pipelines that lie entirely within Texas, skirting federal regulation of interstate pipelines. That's only one example of a relaxed regulatory environment in Texas, compared to places like climate-conscious Colorado, the nation's No. 4 oil producer, where output is still down 3 million barrels per month, said Jay Hatfield, CEO of Infrastructure Capital Advisors in New York. "There's this place called Texas that doesn't really know what energy regulation is," he said U.S. oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
It said the increase is due to TX and their better access to pipelines that are totally in state and not subject to federal interstate regulation.
Yes. And the regulations that come with interstate transport of oil. Article states oil production is actually down everywhere else. Keep reading.
We don’t have capacity for refining it to gasoline. A new refinery hasn’t been built in like 20 years. Without expanding capacity there has will stay high unless demand decreases.
A lot of factors here. But a big concern not being covered is how the SPR is way too low. And with Israel and Ukraine…we are playing with fire now. Energy Secretary vows to refill emergency oil stockpile — but warns that won't happen before a second Biden term | CNN Business
Since the ‘70s, according to this: https://seekingalpha.com/news/38457...-ever-built-again-in-the-us-chevron-ceo-warns
