Texas ramps up oil production as gas prices reach new record high

[gwalchmai]

https://www.thecentersquare.com/texas/texas-ramps-up-oil-production-as-gas-prices-reach-new-record-high/article_723c0da0-dac6-11ec-a02e-f30738132e0e.html?utm_source=Master+List&utm_campaign=d0b1bcdac2-MICHIGAN_B2C_NEWSLETTER&utm_medium=email&utm_term=0_d03ba9ddf1-d0b1bcdac2-76345213

As the Biden administration doubles down on its policies restricting domestic oil and gas production and promoting green energy, Texas is ramping up production and hiring people to work in the industry.

West Texas producers are expected to pump out a record amount of crude next month, and last month Texas saw its highest monthly job growth in the industry in nearly 11 years.

Texas is seen as the model of how to respond and lead during an energy crisis, one those in the industry argue was created by President Joe Biden.

From cancelling federal land and offshore leasing permits, to increased regulation and proposed taxes, to depleting the Strategic Oil Reserves, to turning to foreign oil production, Biden has done everything to hamper, and in many ways, halt domestic oil production, those in the industry contend.

Under the Trump administration, the U.S. became the largest producer of crude oil in the world, led by Texas. Under the Biden administration, within months of implementing a range of restrictive policies, gas prices reached a seven-year-high and inflation reached a 40-year high.

And on Monday, the average price of a gallon of gasoline reached yet another record high. AAA reports gasoline on average costs $4.60 a gallon as of Monday. A month ago, the average price was $4.12 a gallon. A year ago, it was $3.04. The price of diesel, the fuel used by truckers to transport food and other consumer goods across the country, was $5.55 a gallon Monday, up from $3.18 a gallon a year ago. Surging energy prices are in part responsible for 40-year-high inflation.

In some parts of the country, gas prices today are double what they were before Biden took office, and analysts say they’re still going up.

To offset rising prices and meet demand, the Texas oil and gas industry is beefing up production primarily in the Permian Basin. It’s able to do so because the Railroad Commission of Texas, which regulates the oil and gas industry, has been increasingly issuing drilling permits. Last month, it issued 946 original drilling permits, 1,176 permits in March and 732 in April.

Producers in the Permian Basin are expected to increase output by 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration reports.

Good news! 

[Walt Longmire]

And yet Biden has further reduced drilling opportunities in Alaska. He shut down leases scheduled to go to bid in the Cook Inlet Basin just a couple weeks ago.

[janice6]

I hope people remember Biden did this come the mid terms.

[LostinTexas]

Gas is still over $4 a gallon here. Production and refineries don't seem to help all that much. Still, probably better tan some places.

I saw Oregon was looking at $10+ in the near future. Imagine that in a Liberal utopia.

[Walt Longmire]

3 hours ago, LostinTexas said:

Gas is still over $4 a gallon here. Production and refineries don't seem to help all that much. Still, probably better tan some places.

I saw Oregon was looking at $10+ in the near future. Imagine that in a Liberal utopia.

Friend saw the gas pumps at Fred Meyer being worked on. The guys working on them said it was an upgrade so the pumps could function with prices over 10 dollars.

[Fog]

Heads better roll, this is an attack on us by our own government.

 

[railfancwb]

8 hours ago, Walt Longmire said:

Friend saw the gas pumps at Fred Meyer being worked on. The guys working on them said it was an upgrade so the pumps could function with prices over 10 dollars.

One of the earlier gasoline price crises some pumps were changed to sell Litters rather than gallons

[tous]

A liter is about the same volume as a quart.

1 US gallon = about 3.75 liter.

1 US gallon = 4 quarts.

Thus if gasoline is $4.00 per US gallon, it would be around  $1.06 per liter.

Give the hippie Marxists three months to get that to $4.00 per liter (around $16.00 per US gallon.)

 

Note well that there is also an Imperial gallon used by the British and their ex-colonies mostly.

We don't care.

We use 'Murican gallons, by Golly!