The USA is now producing more oil and gas than any nation ever has. It’s a triumph

Guno צְבִי

Guno צְבִי

We fight, We win
The US Energy Information Administration (EIA) said in January that US domestic production of crude oil for September 2023 set a new all-time high of 13,247,000 barrels per day. That fact probably deserved more notice than it received given that it was the most oil any nation on earth had ever managed to produce in a single month.

Even more remarkable is the fact that US producers managed to break the record in November, and then exceed the September number again in December, the most current month for which full data is available.


https://news.yahoo.com/usa-now-producing-more-oil-173047232.html
 
Guno צְבִי;5940404 said:
The US Energy Information Administration (EIA) said in January that US domestic production of crude oil for September 2023 set a new all-time high of 13,247,000 barrels per day. That fact probably deserved more notice than it received given that it was the most oil any nation on earth had ever managed to produce in a single month.

Even more remarkable is the fact that US producers managed to break the record in November, and then exceed the September number again in December, the most current month for which full data is available.


https://news.yahoo.com/usa-now-producing-more-oil-173047232.html
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Is it a triumph from an environmental perspective?
 
We are not investing much in new production and fracking wells dont last long.....it is all down from here...substantially.

We are also not investing in oil refinery operations, fires are getting more common....it is only a matter of time before a refinery or more than one go down....maybe for good because the Revolution would be very pissed if lots of money was put into rebuilding.
 
Also dont forget that all signs are that we will have large scale terrorism starting any day. After what happened in Moscow the Russians say that wont worn us if they learn about anything....refusal to cooperate works both ways. If the CIA did Moscow...which is extremely likely....there will be Russian retribution....they have already promised it.
 
Guno צְבִי;5940404 said:
The US Energy Information Administration (EIA) said in January that US domestic production of crude oil for September 2023 set a new all-time high of 13,247,000 barrels per day. That fact probably deserved more notice than it received given that it was the most oil any nation on earth had ever managed to produce in a single month.

Even more remarkable is the fact that US producers managed to break the record in November, and then exceed the September number again in December, the most current month for which full data is available.


https://news.yahoo.com/usa-now-producing-more-oil-173047232.html
Click to expand...

Three years ago, Trump Dick Suckers predicated Biden would destroy domestic oil production
 
Guno צְבִי;5940462 said:
If this happened during Trump the sloop skulls would be celebrating
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If it wasn't due to Trump, I'd say so too. Biden has fought hard against any new oil and gas production. The supreme court even smacked him down for not holding legally mandatory leasing bidding. Oil and gas production are up because the price of oil is up and well owners know it will make them more profits right now.
 
Cypress said:
Three years ago, Trump Dick Suckers predicated Biden would destroy domestic oil production
Click to expand...
Feelgood moment perhaps, but oil is over $80/bbl for the first time in a long time. Going up every day, because speculators are once again finding creative ways to drive the price up. Houthi rebels, as it were.

Historically, the U.S never exported any unrefined petro products. In the midst of the shale boom, the export ban was repealed. Some interesting reading re. the effects of lifting the crude oil export ban.

Increased domestic production helps to offset OPEC+'s repeated attempts to drive prices via production cuts. We want to starve Russia via choking their oil exports, but we don't want to reduce global supplies to the point where the price spikes.

I suppose it could be argued that record domestic production is keeping oil under $100/bbl, but with fuel prices going up it really doesn't feel like a party
 
Hawkeye10 said:
We are not investing much in new production and fracking wells dont last long.....it is all down from here...substantially.
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Blatant lie.
Hawkeye10 said:
We are also not investing in oil refinery operations,
Click to expand...
Blatant lie.
Hawkeye10 said:
fires are getting more common...
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Blatant lie.
Hawkeye10 said:
it is only a matter of time before a refinery or more than one go down....
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Refineries and sections of them shut down from time to time normally. Maintenance and installing new equipment and the like, you see.
Hawkeye10 said:
maybe for good because the Revolution would be very pissed if lots of money was put into rebuilding.
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What 'Revolution' Chicom?
 
Althea said:
Feelgood moment perhaps, but oil is over $80/bbl for the first time in a long time. Going up every day, because speculators are once again finding creative ways to drive the price up. Houthi rebels, as it were.

Historically, the U.S never exported any unrefined petro products. In the midst of the shale boom, the export ban was repealed. Some interesting reading re. the effects of lifting the crude oil export ban.

Increased domestic production helps to offset OPEC+'s repeated attempts to drive prices via production cuts. We want to starve Russia via choking their oil exports, but we don't want to reduce global supplies to the point where the price spikes.

I suppose it could be argued that record domestic production is keeping oil under $100/bbl, but with fuel prices going up it really doesn't feel like a party
Click to expand...

Speculators don't drive the price of oil, Sock. Oil is a commodity.
 
Gas prices are up again. I guess Biden's "we're drilling more than ever" really isn't helping...
 
RB 60 said:
Gas prices are up again. I guess Biden's "we're drilling more than ever" really isn't helping...
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Are you shocked that gas prices are not controlled by a POTUS or America solely? Are you that dumb?

What American production, at these peak levels DOES, is add more supply to the Supply/Demand curve, which DOES ALWAYS put downward pressure on price. Meaning the price is always better and lower with the US oil at peak levels than it would be if those production levels were lowered.

But what it DOES NOT do is control the rest of the world and thus things like world wide production, natural disasters or many other factors CAN and WILL still greatly impact the price.
 
RB 60 said:
Gas prices are up again. I guess Biden's "we're drilling more than ever" really isn't helping...
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This isn't because of Biden, obviously. We are drilling and extracting more because a court threw Biden's executive order out.

Gas prices being a bit higher now is not due to any drilling (or lack of it). It is due to and equally ridiculous set of laws that force refineries to start making 'summer gasoline'. There are some 142 boutique mixture of gasoline required across 46 States, the SDTC, the SOTCO, the SOTNY, and the SOTHI during the summer. During the winter, only a few dozen mixes are required (which lowers the price of fuel).

Further, people begin to drive more as the weather improves.

You might say gas prices are rising partly due to market demand, and mostly due to overregulation and taxes.
 
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