US Crude oil production is up 600,000 barrels per day since the start of 2019 to 12.3 million barrels per day.
EIA forecasts that U.S. production will increase by 1.4 million b/d in 2019 and by 0.9 million b/d in 2020, with 2020 production averaging 13.3 million b/d. 2020 should have peak production of over 14 million barrels per day.
Saudi Arabia crude oil production is about 9.7 million barrels per day.
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If the parasitic socialists were allowed to sell their oil on the allegedly free market, they might have a coin or two to rub together.
Here in Oz they’ve learned. Bans on drilling, and of course windmills and solar panels so we have to back them up with expensive foreign oil instead of nice cheap dirty junk coal that no one else wants. (We sell the good stuff overseas to pay for our oil, of course.)
One inevitably assumes that the money to keep these Green idiots going comes from the pockets of OPEC.
Silly Obama. Tried to kill coal, all the while it was shale that was rolling over him like a 100 ton asphalt roller.
I feel the most sorry for Venezuela, since it operates under a Bernie Sanders/Obama style parasitic socialist government and cannot hide the results from the world.
Started under Bush (2) when regulations for fracking were reduced. Initially the result was a superabundance of methane. When oil prices skyrocketed horizontal drilling and fracking for oil became profitable. Lots of people worked hard to find ways to be more efficient in their drilling, ineffective businesses died and had their assets purchased by effective businesses (thanks Capitalism!) and eventually we find ourselves at a point where we are adding 1+ million barrels of oil production per year and the average cost per barrel fracked is probably around $40.
So why bother trying then I suppose.
I thank Obama
not very refined.
that was crude.
Not before the next election. Which is what counts.
Well it could be.
Is that oil you’ve got?
More than triple Sep 2008.
And someone said we couldn’t drill our way out of the problem. Wrong!