{"id":11230,"date":"2022-03-20T03:08:28","date_gmt":"2022-03-20T03:08:28","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/03\/20\/make-us-energy-production-a-national-priority\/"},"modified":"2022-03-20T03:08:28","modified_gmt":"2022-03-20T03:08:28","slug":"make-us-energy-production-a-national-priority","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/03\/20\/make-us-energy-production-a-national-priority\/","title":{"rendered":"Make US energy production a national priority"},"content":{"rendered":"

Demanding to increase oil and natural gas production to guarantee supply and ease high energy prices, home producers point to a number of constraints that keep them from the sharp rise in emissions.<\/p>\n

Mark Vitner, senior economist at Wells Fargo, notes that US oil production is declining at an average of 1.1 million barrels per day compared to the 2019 level, suggesting that home producers have the potential to increase at least as much.<\/p>\n

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“It’s hard to set up production,” he told the reporter telegram in a telephone interview. “You increase production where it makes economic sense, and that’s the Permian Basin.”<\/p>\n


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He reported that production in almost every major energy state, including Texas, is by far the largest oil producer, with output averaging 4.7 million barrels per day, down 6.6 percent from the 5.1 million barrels on average in 2019.<\/p>\n

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Except, he said, production is running 5.8 percent higher than 2019 levels in the Permian Basin and 146 percent higher than 2015 average levels.<\/p>\n

The point of the report is that US production could be increased to compensate for the loss of Russian oil “if we wanted it, if we had the will,” Vitner said. “If we make it a high enough national priority, we can increase production. All the energy is there, and more. We just need to want to get it.”<\/p>\n

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The barriers to increasing production are twofold, Vitner said, beginning with the early days of the slate revolution.<\/p>\n

“During the Slate Revolution, everyone was reluctant to find as much oil as they could as quickly as they could and earn money, and many people did,” he said. But overall, the industry lost money, prompting investors to return cash to them instead of drilling more wells.<\/p>\n

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