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Septua

(2,861 posts)

6. The U.S. has been the top crude oil producer for several years and...

Thu Jul 3, 2025, 01:14 PM

Jul 3

..already set 'records'. Current production is down because inventories are up, among other things.

https://oilprice.com/Energy/Crude-Oil/Oil-Falls-as-US-Crude-Gasoline-Inventories-Rise.html

Trump has spewed distorted information about 'energy independence' and high gasoline prices forever, trying to blame Biden for high gas prices while taking credit for $2 gas that was the result of a 40% drop in demand during Covid.

Our oil producers import heavy crude oil because existing refineries were designed for processing heavy crude oil. They export more than they import and they export light crude because they produce more light than heavy.

Energy independence is an ambiguous concept

https://usafacts.org/articles/is-the-us-energy-independent/

U.S. crude oil production hit a record 13.47 million barrels-per-day in April, up from 13.45 million bpd in March, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series.

https://finance.yahoo.com/news/us-crude-oil-output-hit-153009830.html

Trump may know all this but if so, he knows it doesn't sell well for him so he sells his lies instead.

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electricmonk TexasBushwhacker

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Highlight:

Some oil patch execs say "drill baby drill" isn't happening [View all] BumRushDaShow Jul 3 OP

Oil is a global commodity. The market determines the price. If oil producers aren't going to make Ray Bruns Jul 3 #1

and that there is why we have records temperatures for the past decade Mr. Sparkle Jul 3 #2

I don't know what the general consensus of Mr Global is electricmonk Jul 3 #3

The U.S. has been the top crude oil producer for several years and... Septua Jul 3 #6

A lot of what Trump says is just grandstanding for his base. Drill, baby, drill is no exception. patphil Jul 3 #4

It matter not a whit if production actually increases. maxsolomon Jul 3 #5

And they were already at max production when Trump... Septua Jul 3 #7

With this bill passing he may make them drill at gunpoint because he now feels he's Supreme Leader material lmao n/t Cheezoholic Jul 3 #8

Don't forget OPEC+ mwooldri Jul 3 #9

They did agree to up the production BumRushDaShow Jul 3 #10

It would be hard to make a profit from Alaska crude catrose Jul 3 #11