Neither the policies of the Trump or Biden administration
Posted on: March 8, 2022 at 09:59:21 CT
KC rules MU
Posts:
9053
Member For:
12.75 yrs
Level:
User
M.O.B. Votes:
0
have impacted US oil independence. It's simply a function of the industry being innovative and finding ways to produce difficult to extract oil at costs that make it economical. If the price of oil falls, much of that oil is no longer commercially available. Which is what has happened. At higher oil prices, production will return to pre-pandemic levels but it will take time. Only so many drilling rigs available and the cycle of drilling to production is time consuming.
Probably the most prospective area in the US that has not been exploited is the gulf coast of Florida and both the Trump and Biden administration have opposed drilling there.
Edited by KC rules at 10:00:05 on 03/08/22