Quote:
Originally Posted by Fuzz
 <a href='https://www.macrotrends.net/2562/us-crude-oil-production-historical-chart'>Source</a>
I'm not sure they can get much above the previous peak. Shale-oil requires a lot of drilling, and they've depleted the best areas. Though at $100/barrel a lot of marginal drilling opens up. Still, those wells don't have much longevity.
Stable plentiful supplies where projects last decades, like Venezuela and our oil sands are a better place to invest. |
The USA was a net exporter of oil in 2020. They are a slight net importer now. With lesser dependence on fossil fuels and only a marginal increase in production, they could easily be a net exporter again. They'll probably continue to import, even then, for the same reasons Canada does.