Absolutely correct. The first time the Neo-GOP claimed the fabled energy independence status under the Trumpybear, the price of Gas did not drop, it didn't effect world oil prices even a little.
It’s not enough and no restrictions should have been pursued in the first place. He should return to Trump era of restrictions, not Obama.Reality doesn't bear that out. Biden has returned to the restriction of the Obama era. The US oil industry nearly doubled production in the Obama era. No reason to think the industry is not ramping up production as fast as it can.
Rig Count Overview & Summary Count | Baker Hughes Rig Count
The Investor Relations website contains information about Baker Hughes Rig Count's business for stockholders, potential investors, and financial analysts.rigcount.bakerhughes.com
It wouldn't matter because it is not the US restrictions on long term future exploration and development that are hampering the return to pre-pandemic production levels across the globe. We're almost up to 12 mbd and the rig count has nearly tripled since it hit 250 in the middle of the pandemic.
Again, the restrictive policies pursued and implemented at the start of this Administration sent the wrong message to global energy markets; especially in the face of rising inflation.
Such nonsense. The US is the largest producer but only 20% of the global market at best.
Year over year inflation was baked in when oil began trading at negative dollar amounts due to lack of demand in early 2020. None of the pause policies effected the return of US production levels. Oil is a global commodity and US production really doesn't effect the global price of oil the way OPEC can.
What Bull! I always wondered what a libertarian view on crime would do. We see it in areas not civil and it is not good. Disheartening. I always wondered what wouls happen if we became self sufficient in the numbers and ways of how oil is procured and the result was a product cheaper to use. And we all benefitted. Progs deserve no sympathy when things go bad enough.
Crime? Oil? No matter what you hear, we're not self sufficient. We are and have been dependent on foreign oil nearly my entire life.
We are still more dependent on foreign oil. Policies are needed to take us in the opposite direction. A viable alternative is most welcomed but not restrictive policies in the absence of a viable alternative.
Again, why the need, push, aim or goal to restrict exploration, production, and infrastructure? That’s what this Administration ran on and that’s what they started Day 1. I don’t dispute your numbers. I question the motivation to be more restrictive. This administration also touts the specious Green Energy which is not viable to sustain the economy like fossil fuels. As for pollution, that is not an excuse these days when I see other nations nowhere near the standards we have producing fossil based energy.You sound like Jimmy Carter.
Bush Part Deux was the worst. We imported 13.7 mbd and produced only 7.8 mbd. That started changing in 2009.
Oil imports and exports - U.S. Energy Information Administration (EIA)
U.S. crude oil imports sources including OPEC and Persian Gulf, and top five source countries of U.S. oil imports and destinations of U.S. crude oil exports.www.eia.gov
Imo, It was in response to the fire sale of leases for public lands under Trump that were once considered off limits by both parties I'm sure. It placated the environmentalist and didn't effect current operations. No energy source packs the same punch as petroleum. It has been a boon for mankind.
There was no market for oil in 2020. Demand collapsed would wide. 100 US oil companies declared bankruptcy in 2020.
In terms of production emissions or pollution the US is not as dirty as Venezuela but is 4 times as dirty as Saudi Arabia.
Define “dirty”. Why not compare US to China and India under what you consider dirty. How about you people spend your energy pushing for alternative energy that is equal or exceeding that of oil?
Lol. I love oil. The US just isn't as environmentally cautious as Saudi Arabia.
So why did Biden go after the oil companies in his campaign in 202O and then push executive orders restricting oil companies his first hours in office?
He signed more permits than Trump.
Provide some comparisons between US and Saudi Arabia.
Most Saudi wells produce 500 to a thousand barrels a day. They can afford fracking and gas injection to keep pressure up. They don't pump oil. The lift costs are low, safety is a high priority. It's the largest oil company in the world and well integrated.
