Originally Posted by
TallFlyer
I'm starting to read Peter Zeihan's "Absent Superpower," which opens with some fantastic information about shale. The general feel I get is that as long as we have a President who's beholden to the environmental religious orthodoxy of the left, we're in for a tough ride. So are the Ukrainians, but that's another topic. The short version is we have the ability to be largely energy independent in North America if that was politically palatable to the latte liberal crowd. But it's not, so here we are. Draw your own conclusions.
The US was on track to produce a record amount of oil even before Ukraine crisis:
https://www.bloomberg.com/news/artic...uction-in-2023
The United States is the largest oil producer in the world:
https://www.bbc.com/news/58888451
There are literally hundreds of unused approved government drilling permits out there the oil companies haven’t used yet. I have two family members who work in this industry. This isn’t the left/Biden’s fault. The US oil companies let go tens thousands of employees under Trump because of the covid crisis fuel slump. They are still recovering from that, and the shale/fracking industry was already downtrodden before covid. It takes time to put all those contractors and resources back into action. It’s a multi-year process.
The US consumes roughly 18 million barrels a day and is capable of producing just over 16 million barrels a day. We could essentially be self reliant now! But the big oil companies are simply trying to use this crisis for their long term gain. We let them sell our oil away to other nations