U.S. Crude Oil Output Hits 12.9M Barrels/Day

GROK:

Under President Trump, oil and energy production improved significantly due to a strong focus on "energy dominance," deregulation, and support for traditional energy sources like oil, natural gas, coal, and nuclear power. His administration prioritized expanding domestic fossil fuel production by cutting regulations that previously slowed development and by streamlining permitting processes for energy infrastructure projects .

Key points include:
  • Increased oil and natural gas production: The Trump administration pushed to expand drilling on federal lands and offshore areas while reducing regulatory hurdles. This led to higher U.S. output levels and increased exports of liquefied natural gas (LNG), strengthening America’s position as a global energy supplier.
  • Support for nuclear energy revival: Despite the focus on fossil fuels, Trump's policies also backed nuclear power as a carbon-free source of steady electricity. Executive orders aimed at reforming the Nuclear Regulatory Commission (NRC) sought to accelerate new reactor approvals and extend existing plant operations.
  • Permitting reforms: The administration reformed the National Environmental Policy Act (NEPA) process to reduce delays in approving pipelines, refineries, LNG terminals, and other critical infrastructure projects essential for increasing domestic energy supply.
  • Reduced subsidies for renewables: Trump moved quickly to eliminate or limit tax credits supporting wind and solar power projects in favor of promoting fossil fuels and nuclear options. This aligned with his "best of the above" rather than "all-of-the-above" approach favored before his tenure.
 
Tbird19482 said:
It has BEEN over 13 MBPD since Aug 2023 under Biden.
Click to expand...

Biden Administration’s Impact on Oil and Energy Production

1. Moratorium on Federal Leasing and Permitting Delays:

- Early in 2021, the Biden administration issued a temporary moratorium on new oil and gas leases on federal lands and waters, citing the need to review environmental impacts. Although a federal judge blocked this moratorium, it created uncertainty for producers, discouraging investment in new projects.

- Difficulty in obtaining permits for drilling on federal lands increased significantly. This bureaucratic backlog delayed projects and reduced the pace of new development.

- The administration leased only 232,000 acres for oil and gas development, generating $180 million in federal funding, compared to 3.7 million acres and $1.7 billion under Trump over a similar period, signaling a sharp reduction in available land for exploration.

2. Increased Regulatory Burdens:

- The Biden administration introduced regulations targeting methane emissions and volatile organic compounds, such as the Bureau of Land Management’s “Waste Prevention, Production Subject to Royalties, and Resource Conservation” rule. These increased compliance costs for producers.

- Proposed rules like the “Fluid Mineral Leases and Leasing Process” raised royalty and bonding rates for oil and gas producers on federal lands, further increasing operational costs.

- The administration’s supplemental environmental impact statements for resource management plans in Western states restricted millions of acres from development, limiting access to potential oil and gas reserves.

- The focus on climate-driven regulations, such as stricter vehicle emissions standards and penalties for methane leaks, was criticized by industry leaders as ideologically motivated, prioritizing environmental goals over economic considerations.

3. Pause on LNG Export Permits:

- In January 2024, Biden paused approvals for new liquefied natural gas (LNG) export facilities to assess their environmental impact, a move seen as slowing the growth of U.S. LNG exports, which had surged to make the U.S. the world’s top exporter in 2023. This pause was a barrier to meeting global demand, particularly from allies in Europe seeking alternatives to Russian gas after the 2022 Ukraine invasion.

4. Impact on Production and Prices:

- Despite record U.S. oil production of 13.4 million barrels per day (bpd) in 2023, driven by leases issued during the Trump administration, Biden’s policies actually slowed the growth rate. Estimates suggest the U.S. produced 2 billion fewer barrels of oil than projected under Trump’s policies, contributing to higher energy prices.

- Gasoline prices rose 30% under Biden, averaging $3.60 per gallon compared to $2.57 during Trump’s first term, due to reduced domestic supply and bad policies from Biden which frightened the markets.

- The administration’s reluctance to enforce oil sanctions on Iran and Venezuela allowed those countries to increase exports, potentially offsetting U.S. production gains and weakening energy security.

5. Dependence on Foreign Minerals:

- Biden’s push for renewable energy increased demand for critical minerals (e.g., lithium, cobalt) for electric vehicles (EVs) and batteries, but restrictions on domestic mining left the U.S. reliant on China for these resources. This dependency was seen as a strategic vulnerability, especially after China imposed export bans on minerals like germanium and gallium.

These actions, while aligned with Biden’s climate goals—such as reducing greenhouse gas emissions by 43–48% from 2005 levels by 2035 through the Inflation Reduction Act (IRA)—were criticized for hampering domestic energy production, raising costs for consumers, and increasing reliance on foreign energy and minerals.

terryobriengreatamerican.substack.com

Trump is Restoring American Energy Dominance Once Again

Repairing What Biden Broke
terryobriengreatamerican.substack.com terryobriengreatamerican.substack.com
 
GreatAmerican said:
Biden Administration’s Impact on Oil and Energy Production

1. Moratorium on Federal Leasing and Permitting Delays:

- Early in 2021, the Biden administration issued a temporary moratorium on new oil and gas leases on federal lands and waters, citing the need to review environmental impacts. Although a federal judge blocked this moratorium, it created uncertainty for producers, discouraging investment in new projects.

- Difficulty in obtaining permits for drilling on federal lands increased significantly. This bureaucratic backlog delayed projects and reduced the pace of new development.

- The administration leased only 232,000 acres for oil and gas development, generating $180 million in federal funding, compared to 3.7 million acres and $1.7 billion under Trump over a similar period, signaling a sharp reduction in available land for exploration.

2. Increased Regulatory Burdens:

- The Biden administration introduced regulations targeting methane emissions and volatile organic compounds, such as the Bureau of Land Management’s “Waste Prevention, Production Subject to Royalties, and Resource Conservation” rule. These increased compliance costs for producers.

- Proposed rules like the “Fluid Mineral Leases and Leasing Process” raised royalty and bonding rates for oil and gas producers on federal lands, further increasing operational costs.

- The administration’s supplemental environmental impact statements for resource management plans in Western states restricted millions of acres from development, limiting access to potential oil and gas reserves.

- The focus on climate-driven regulations, such as stricter vehicle emissions standards and penalties for methane leaks, was criticized by industry leaders as ideologically motivated, prioritizing environmental goals over economic considerations.

3. Pause on LNG Export Permits:

- In January 2024, Biden paused approvals for new liquefied natural gas (LNG) export facilities to assess their environmental impact, a move seen as slowing the growth of U.S. LNG exports, which had surged to make the U.S. the world’s top exporter in 2023. This pause was a barrier to meeting global demand, particularly from allies in Europe seeking alternatives to Russian gas after the 2022 Ukraine invasion.

4. Impact on Production and Prices:

- Despite record U.S. oil production of 13.4 million barrels per day (bpd) in 2023, driven by leases issued during the Trump administration, Biden’s policies actually slowed the growth rate. Estimates suggest the U.S. produced 2 billion fewer barrels of oil than projected under Trump’s policies, contributing to higher energy prices.

- Gasoline prices rose 30% under Biden, averaging $3.60 per gallon compared to $2.57 during Trump’s first term, due to reduced domestic supply and bad policies from Biden which frightened the markets.

- The administration’s reluctance to enforce oil sanctions on Iran and Venezuela allowed those countries to increase exports, potentially offsetting U.S. production gains and weakening energy security.

5. Dependence on Foreign Minerals:

- Biden’s push for renewable energy increased demand for critical minerals (e.g., lithium, cobalt) for electric vehicles (EVs) and batteries, but restrictions on domestic mining left the U.S. reliant on China for these resources. This dependency was seen as a strategic vulnerability, especially after China imposed export bans on minerals like germanium and gallium.

These actions, while aligned with Biden’s climate goals—such as reducing greenhouse gas emissions by 43–48% from 2005 levels by 2035 through the Inflation Reduction Act (IRA)—were criticized for hampering domestic energy production, raising costs for consumers, and increasing reliance on foreign energy and minerals.

terryobriengreatamerican.substack.com

Trump is Restoring American Energy Dominance Once Again

Repairing What Biden Broke
terryobriengreatamerican.substack.com terryobriengreatamerican.substack.com
Click to expand...
Pressuring banks and other capital sources to not do business with oil companies unless they do as they are told.
 
Hawkeye10 said:
Pressuring banks and other capital sources to not do business with oil companies unless they do as they are told.
Click to expand...

If that were true, you say it as if its a bad thing.

Its about time that American business give back and make deals that help America rather than help other countries.

Nothing helps America more than energy independence.
 
GreatAmerican said:
If that were true, you say it as if its a bad thing.

Its about time that American business give back and make deals that help America rather than help other countries.

Nothing helps America more than energy independence.
Click to expand...
I am against the people who run America doing it in secret by secret messages and control of capital that the people dont know about, were not consulted about.

I want America to be run Constitutionally, by law.

So the answer is yes, that is a very bad thing.
 
FastLane said:
Oil is 65 right now and there are 589 rigs working . That is healthy. Stick with coffee because you don't know anything about oil.
Click to expand...
You can have a RIG count of 5000 if they are not pumping out oil at a good amount it doesn't matter.
You need to talk the number of barrels produced a day.
Trump didn't have any month with over 13 MBPD produced.
US oil production went down to 9714 Mbpd in May of 2020 and yes COVID did have something to do with it.
In the first month of Biden it was only 9938 MBPD and then went up and up breaking the 13 MBPD level in Aug 2023.
The ONLY month it dropped below 13 MBPD was Jan.2024 and it was 12564 MBPD.
So the increase that Trump has had since he came back isn't that impressing.
 
GreatAmerican said:
Biden Administration’s Impact on Oil and Energy Production

1. Moratorium on Federal Leasing and Permitting Delays:

- Early in 2021, the Biden administration issued a temporary moratorium on new oil and gas leases on federal lands and waters, citing the need to review environmental impacts. Although a federal judge blocked this moratorium, it created uncertainty for producers, discouraging investment in new projects.

- Difficulty in obtaining permits for drilling on federal lands increased significantly. This bureaucratic backlog delayed projects and reduced the pace of new development.

- The administration leased only 232,000 acres for oil and gas development, generating $180 million in federal funding, compared to 3.7 million acres and $1.7 billion under Trump over a similar period, signaling a sharp reduction in available land for exploration.

2. Increased Regulatory Burdens:

- The Biden administration introduced regulations targeting methane emissions and volatile organic compounds, such as the Bureau of Land Management’s “Waste Prevention, Production Subject to Royalties, and Resource Conservation” rule. These increased compliance costs for producers.

- Proposed rules like the “Fluid Mineral Leases and Leasing Process” raised royalty and bonding rates for oil and gas producers on federal lands, further increasing operational costs.

- The administration’s supplemental environmental impact statements for resource management plans in Western states restricted millions of acres from development, limiting access to potential oil and gas reserves.

- The focus on climate-driven regulations, such as stricter vehicle emissions standards and penalties for methane leaks, was criticized by industry leaders as ideologically motivated, prioritizing environmental goals over economic considerations.

3. Pause on LNG Export Permits:

- In January 2024, Biden paused approvals for new liquefied natural gas (LNG) export facilities to assess their environmental impact, a move seen as slowing the growth of U.S. LNG exports, which had surged to make the U.S. the world’s top exporter in 2023. This pause was a barrier to meeting global demand, particularly from allies in Europe seeking alternatives to Russian gas after the 2022 Ukraine invasion.

4. Impact on Production and Prices:

- Despite record U.S. oil production of 13.4 million barrels per day (bpd) in 2023, driven by leases issued during the Trump administration, Biden’s policies actually slowed the growth rate. Estimates suggest the U.S. produced 2 billion fewer barrels of oil than projected under Trump’s policies, contributing to higher energy prices.

- Gasoline prices rose 30% under Biden, averaging $3.60 per gallon compared to $2.57 during Trump’s first term, due to reduced domestic supply and bad policies from Biden which frightened the markets.

- The administration’s reluctance to enforce oil sanctions on Iran and Venezuela allowed those countries to increase exports, potentially offsetting U.S. production gains and weakening energy security.

5. Dependence on Foreign Minerals:

- Biden’s push for renewable energy increased demand for critical minerals (e.g., lithium, cobalt) for electric vehicles (EVs) and batteries, but restrictions on domestic mining left the U.S. reliant on China for these resources. This dependency was seen as a strategic vulnerability, especially after China imposed export bans on minerals like germanium and gallium.

These actions, while aligned with Biden’s climate goals—such as reducing greenhouse gas emissions by 43–48% from 2005 levels by 2035 through the Inflation Reduction Act (IRA)—were criticized for hampering domestic energy production, raising costs for consumers, and increasing reliance on foreign energy and minerals.

terryobriengreatamerican.substack.com

Trump is Restoring American Energy Dominance Once Again

Repairing What Biden Broke
terryobriengreatamerican.substack.com terryobriengreatamerican.substack.com
Click to expand...
And when Biden took office there were MILLIONS of acres of Federal land already leased to the oil companies most ware not being used and they had thousands of drilling permits they were not using.
And not long after Biden put out his first EOs the court stepped in and said he couldn't do it and he opened up more federal lands for lease.
 
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