Originally Posted by James Lacey
The EIA numbers don't lie.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=a
2019 - 12,289
2020 - 11,283
2021 - 11,567
2022 - Still preliminary, but all projections are up.
Besides, gas prices are affected by far more than just millions of barrels produced per day. It's far more complicated than that, and if less oil meant higher prices at the pump, why was gas so cheap in 2020 when production was the lowest in years? Think bigger, guys.
Sure it's complicated. But at the end of the day (hate hearing people use that) the law of supply and demand rules. We have the best and cleanest and if we drill, drill and drilled we could dominate the market and hurt Putin plenty. Also, unlike Putin we have other revenue. So despite the "F the children" remark I would weaponize our oil and strategically use that advantage. Our grandchildren are more likely to appreciate a separate Taiwan and independent Ukraine.