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U.S. crude oil production continues to break records

Discussion in 'News & Current Events' started by KenH, Mar 15, 2024.

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  1. KenH

    KenH Well-Known Member

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    "According to the U.S. Energy Information Administration (EIA), the United States has produced more crude oil than any other nation for the sixth consecutive year. In 2023, the production average of 12.9 million barrels per day exceeded the previous global record of 12.3 million barrels per day, set in 2019.

    According to the EIA, the United States set a monthly production record of more than 13.3 million barrels per day in December 2023.
    ...
    After reaching 9.6 million barrels per day in 1970, U.S. crude oil production flattened and declined for decades to a low of 5 million barrels per day in 2008. In 2009, production started rising again as producers applied hydraulic fracturing and horizontal drilling techniques. Since then, the only years without production growth were 2020 and 2021 when demand and prices declined because of the economic effects of the COVID-19 pandemic."

    - rest of article at U.S. crude oil production continues to break records - Talk Business & Politics
     
    #1 KenH, Mar 15, 2024
    • Informative Informative x 1
  2. Van

    Van Well-Known Member
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    What was the peak oil production under Mr. Trump? About 13 million barrels per day. Under Mr. Biden, the December 1923 daily average production was 13:3 million barrels per day. So whether average or peak, Mr. Biden wins. Now lets compare the price of gas. :)

    Fact, under the Trump administration oil production rose about 5 Million barrels per day from the Obama administration level. Under Mr. Biden's administration, oil production is almost flat, but slightly (3 tenths of a million) higher than under Mr. Trump.
     
    #2 Van, Mar 17, 2024
  3. Van

    Van Well-Known Member
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    I see I referred to Mr. Biden's daily production average as occurring in 1923, I should have said 2023. My bad.

    BTW, the average for Mr. Biden (so far) is $3.60 per gallon and for Mr. Trump's first term was $2.57!!! (Mr. Obama's second term average was $2.95.
     
    #3 Van, Mar 17, 2024
  4. KenH

    KenH Well-Known Member

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    upload_2024-3-17_20-19-31.png
     
    #4 KenH, Mar 17, 2024
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