Record oil and gas production makes America more secure

The EIA estimated that US crude oil production reached “an all-time high in December of more than 13.3 million barrels per day.

Record oil and gas production

America’s oil and natural gas producers are innovating to produce more than ever. We’re also easing emissions and bringing reliable, affordable energy to Americans and our global allies.
In its latest short-term energy outlook, the Energy Information Administration estimated that U.S. crude oil production reached “an all-time high in December of more than 13.3 million barrels per day.”

The production of oil and natural gas in the United States plays a crucial role in stabilizing prices for consumers. These commodities are traded on global markets, and their prices can be influenced by a myriad of factors, including geopolitical events and decisions made by stakeholders across the world.

In times of turmoil or disruption in the global oil market, such as supply disruptions or political tensions in major oil-producing regions, having a robust domestic production capacity helps mitigate the impact of these external shocks on American consumers. By reducing the reliance on foreign sources and increasing domestic output, the U.S. is better equipped to weather fluctuations in global oil prices, providing a sense of stability and security for consumers.

Particularly Evident

The significance of strong U.S. oil and gas production is particularly evident when considering the potential actions of “bad actors” in the global market. In an interconnected world where energy markets are highly sensitive to external events, the actions of rogue states or non-state actors can have profound consequences on oil prices and supply chains.

By bolstering domestic production, the U.S. can insulate itself to some extent from these external risks and maintain a degree of control over its energy security. This not only helps in ensuring a stable supply of energy for American households and businesses but also contributes to the country’s overall economic resilience in the face of global uncertainties.

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Source: Fremont Tribune

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