As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that. Meanwhile, the surprising reality is the United States is pumping oil at a blistering pace and is on track to produce more oil than any country has in history.
The United States is set to produce a global record of 13.3 million barrels per day of crude and condensate during the fourth quarter of this year, according to a report published Tuesday by S&P Global Commodity Insights.
Last month, weekly US oil production hit 13.2 million barrels per day, according to the US Energy Information Administration. That’s just above the Donald Trump-era record of 13.1 million set in early 2020 just before the Covid-19 crisis sent output and prices crashing.
That’s been helping to keep a lid on crude and gasoline prices.
Feels like stockpiling for wartime…
The US is the world’s largest exporter of oil. There’s no “stocking up”
We literally have strategic reserves…
Yes, another reason we’re not “stocking up”
That’s literally stocking up dumb dumb. Nazis are pretty good at logistics, did you miss that class?
We already have the strategic oil reserve. “Stocking” implies that we are currently building up our surplus beyond past levels, which is not happening
Hilariously enough I worked in logistics for years.