OilPosted By Rod Kaufman |
Simply more of the same sort of incorrect comments from Melvin.Originally Posted by Mel MakiRecently we had plenty. Now we are almost begging for it. Will we get it from Russia?
It is just stupid not to produce our own oil
"The United States holds 35,230,000,000 barrels of proven oil reserves as of 2016, ranking 11th in the world and accounting for about 2.1% of the world's total oil reserves of 1,650,585,140,000 barrels. The United States has proven reserves equivalent to 4.9 times its annual consumption."
"In 2022, EIA said it expects growth in production from OPEC+ and U.S. tight oil production, along with other supply additions, will outpace growth in global oil consumption and contribute to declining oil prices."
https://www.reuters.com/business/energy/us-crude-output-decline-less-than-previously-forecast-2021-eia-2021-07-07/