Interesting article on the increase US oil production

I pray and hope my source passes the MAGA scrutiny for news sources.

 

From oilprice.com 

 

"In addition, investment in infrastructure has played a significant role in supporting higher production levels. The expansion of pipelines, refineries, and export terminals has made it easier to transport and process large volumes of oil, ensuring that producers can meet both domestic and international demand. This infrastructure has also facilitated the U.S.'s rise as a major crude oil exporter"

 

"The favorable regulatory environment in the U.S. has further bolstered the industry. Energy policies in recent years have generally supported oil and gas exploration, providing incentives for the continued development of domestic resources. This has encouraged producers to ramp up operations and increase output."

 

Why U.S. Oil Production Surged By 6.5% This Year

 

 

 

 

Cool, maybe Biden/Harris will fill the Strategic Oil Reserve they drained to lower gas prices before the election.

Originally posted by: MaxFlavor

I pray and hope my source passes the MAGA scrutiny for news sources.

 

From oilprice.com 

 

"In addition, investment in infrastructure has played a significant role in supporting higher production levels. The expansion of pipelines, refineries, and export terminals has made it easier to transport and process large volumes of oil, ensuring that producers can meet both domestic and international demand. This infrastructure has also facilitated the U.S.'s rise as a major crude oil exporter"

 

"The favorable regulatory environment in the U.S. has further bolstered the industry. Energy policies in recent years have generally supported oil and gas exploration, providing incentives for the continued development of domestic resources. This has encouraged producers to ramp up operations and increase output."

 

Why U.S. Oil Production Surged By 6.5% This Year

 

 

 

 


Your article does NOT pass the MAGA test.

 

a) It's a positive development, and pretty hard for MAGAs to whine about.

b) It gives credit to the actions of the current non-MAGA administration.

c) It underscores the stupidity of the "drill, baby, drill" MAGA chant, first promulgated by that towering intellectual giant, Sarah Palin.

Originally posted by: Aaron

Cool, maybe Biden/Harris will fill the Strategic Oil Reserve they drained to lower gas prices before the election.


Why, we're the number one producer of oil in the world, you do know it's not 1976, right?


Originally posted by: MaxFlavor

Why, we're the number one producer of oil in the world, you do know it's not 1976, right?


The Reserve isn't needed at all, unless all 4,325 of our current in-production wells simultaneously explode.

One thing that's not discussed very much is how Biden broke the back of OPEC.

Another interesting article from Reuters highlighting the favorable regulatory environment in the U.S. for oil production.

 

Reuters Sept 30, 2024

 

"About 90% of Exxon’s nearly $25 billion in global payments went to foreign governments in 2023, even though close to a quarter of Exxon’s global exploration and production earnings come from the United States.

 
The Texas-based oil giant paid out $22.5 billion in taxes, royalties and other items overseas, with the United Arab Emirates ($7.4 billion), Indonesia ($4.6 billion) and Malaysia ($3.2 billion) topping the list, according to the disclosures.
 
By contrast, Exxon made about $2.3 billion in U.S.-based payments in 2023, including just $1.2 billion to the U.S. Internal Revenue Service, according to Exxon's report."
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