Oil, y’all? Texas tea?
Big Red Car here down in the Oil Patch of Austin By God Texas. OK, no oil wells in Austin, but I can get to some in half an hour.
So, we talked about Texas oil here:
Today, we talk about oil in the United States.
United States, largest oil producer in the world
It is a short story, y’all. The US has now surpassed Saudi Arabia and Russia as the bell cow for oil production. This is primarily due to Texas’ production. Thank you fracking, directional drilling, enhanced recovery, and shale. Thank you, Lone Star State. Thank you, hardworking Texans. [BTW, if you’re looking for a high paying job – the Oil Patch is hiring like crazy.]
Notice on this chart how the US production has come up so sharply starting in about 2010. Notice how it cycled down and then up when the Trump administration came into office.
Oil? Why is this important, Big Red Car?
Oil is important because:
1. It creates jobs;
2. It fuels our economy;
3. It is a strategic commodity meaning we will make foreign policy – talking to you Middle East gunboat diplomacy and politics wars – based on our ability to access oil.
4. We have begun to export crude and we are building enormous offshore natural gas terminals for export. The ships which move natural gas are too big for our ports.
5. We can use energy export – natural gas, in particular, to relieve the pressure of Russian pipelines in eastern Europe.
Russia cannot turn off the tap in a war. Huge!
Oil. It’s powerful stuff.
Hey, it’s me, Obama. Trump didn’t create this oil boom. I did. It’s Obama’s oil boom. Sure, I tried to strangle offshore drilling and I told them No No North Slope, but I did this. You didn’t do this, Trump. I did. Haha. OK, got to get back to my library. Enjoy my oil boom. Peace. Out.
But, hey, what the Hell do I really know anyway? I’m just a Big Red Car.