While Rome Burns...
In 2022 the Biden Administration drained the United States Strategic Petroleum Reserve by 225 million barrels of oil, down to a 4o year low. It was stupid. Republicans had a hissy fit.
By the end of the year 2023 the US will have exported a little south of 7 billion barrels of tight oil since 2016, when the export ban was lifted, 98% of which came from the Permian Basin 'Stategic Petroleum Reserve.' That 7 billion BO of US oil exports is the equivalent of two major discoveries in deep water Gulf of Mexico and one significant discovery by Exxon in Guyana, for instance.
The Alaska National Wildlife Refuge (ANWR) only has 10 billion BO of tcchnically recoverable reserves in it... meaning that whatever we could find in ANWR, if it's even there, we've already exported away. Gone. Burned up. By other countries.
In spite of the vast difference in volumes, neither political party can seem to draw a comparions to draining of the SPR and oil exports from the Permian Basin.
Permian tight oil makes good gasoline. America is the No. 1 gasoline consumer in the entire universe. EV sales, by the way, suck. Nobody wants to buy the damn things. We're gonna need gasoline in this country or a looooooong time.
Neros' in charge of America's long term energy policies say we have to export 5 MM BOPD of Permian tight oil to foreign countries because there is nothing else to do with the stuff, that our refineries can't absorb it. They are too stupid to want to conserve it for our nation's long term energy future, or re-tool American refineries and seek better, low gravity feed stock from our Western neigbors for blending and self-sufficiency. That costs too much money and its far more profitable to just export the stuff. Those Neros' want you to believe that tight oil production will last forever, believe the lies and allow them to "fiddle fart" our future away.
November 24, 2023, the California 405
If you vote for a political candidate in 2024 that says producing the last of our nation's hydrocarbon resources as fast as possible, so that 80-85% of it can be exported to foreign countries, provides us energy "independence," and energy security, you are making a big, big mistake. They are lying to you. Reasonably affordable oil from the Permian Basin will not last much longer and when that oil is gone, that IS all she wrote for our great nation. We'll sadly be back on our knees begging OPEC.
Exporting the very last of our great nation's hydrocarbon resources will prove to be biggest blunder in United States energy policy history.