Curiously unmentioned is the precipitous fall in domestic oil production in 2021. Another headline would be "US barely hangs on to coveted net exporter status as production falls dramatically."
It should be noted that the price of oil has only been increasing in 2021. We were somewhere around $60 in Feb of last year, now we're over $90 [0]. When oil prices go up, expensive development processes become more viable. So this drop in production is purely domestic policy, not economics. That makes the article seem all the more out of touch to be published now, aside from making dumb statements about price of oil not impacting us as much. Throw in a token nod to the questionable Ukraine crisis. Yeah, this article seems like someone from the White House called in a favor.
It should be noted that the price of oil has only been increasing in 2021. We were somewhere around $60 in Feb of last year, now we're over $90 [0]. When oil prices go up, expensive development processes become more viable. So this drop in production is purely domestic policy, not economics. That makes the article seem all the more out of touch to be published now, aside from making dumb statements about price of oil not impacting us as much. Throw in a token nod to the questionable Ukraine crisis. Yeah, this article seems like someone from the White House called in a favor.
[0] https://oilprice.com/oil-price-charts/