This is pretty good and I think balanced article on US oil production.
The United States now exports roughly 4 million barrels a day, more than any OPEC member except Saudi Arabia. On balance, the United States still imports more than it exports because domestic demand exceeds supply and many American refineries can more easily refine the heavier oil produced in Canada and Latin America than the lighter crude that oozes out of the shale fields of New Mexico, North Dakota and Texas.
Nearly every extra barrel of American crude produced is being exported, mostly to Europe and Asia, where supplies are tight. In addition, the natural gas that often bubbles up with oil has led to record exports of gas and helped to lower prices for that fuel and for electricity, much of which is produced at gas-fired power plants in the United States.
The surge in U.S. production has helped to end the energy crisis that gripped Europe after Russia invaded Ukraine — at least for now. European countries have replaced much of the gas they were buying from Russia with gas from the United States, Qatar and other exporters. They have also reduced their use of natural gas, a phenomenon that a mild winter last year helped.
news.yahoo.com
The United States now exports roughly 4 million barrels a day, more than any OPEC member except Saudi Arabia. On balance, the United States still imports more than it exports because domestic demand exceeds supply and many American refineries can more easily refine the heavier oil produced in Canada and Latin America than the lighter crude that oozes out of the shale fields of New Mexico, North Dakota and Texas.
Nearly every extra barrel of American crude produced is being exported, mostly to Europe and Asia, where supplies are tight. In addition, the natural gas that often bubbles up with oil has led to record exports of gas and helped to lower prices for that fuel and for electricity, much of which is produced at gas-fired power plants in the United States.
The surge in U.S. production has helped to end the energy crisis that gripped Europe after Russia invaded Ukraine — at least for now. European countries have replaced much of the gas they were buying from Russia with gas from the United States, Qatar and other exporters. They have also reduced their use of natural gas, a phenomenon that a mild winter last year helped.
Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
HOUSTON — American oil fields are gushing again, helping to drive down fuel prices but also threatening to undercut efforts to reduce greenhouse gas emissions. Only three years after U.S. oil production collapsed during the pandemic, energy companies are cranking out a record 13.2 million...
