The United States’ domestic oil production has excelled to a record high while becoming one of the biggest gas exporters. Yahoo Finance Senior Columnist Rick Newman details the state of US energy under the Biden administration while global energy markets contend with disruptions tied to Red Sea conflicts and OPEC+ production cuts.
#yahoofinance #stockmarket #youtube
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
This is a good thing
Another victory for bidenomics
We need to get off the foreign teet and we can if we continue to increase production and reduce demand. We also need restrictions on exports of US oil.
we’re a net exporter in this space. going to isolationist self-sourced 100% would cost hundreds of billions in refinery mods and dry up international trade. It’s kind of a fool’s errand economically. Better off watching things like BEVs ramp (including displacing some portion of class 8 and other trucks where range/charging can be accomodated).
This is a good report, lots of important content here.
🎉🎉usa super power
Biden ran on ending fossil fuels !😂
For those with lake homes solar panels for boat lifts for your boat batteries are a nice thing. You either have to carry your batteries in, or run a long cord from shore. There are solar panels that can mount to your boat lift. I use this most of the time. My boat sits for 5 days with no use. Then if I run it hard and take it out the next day, then I plug it in.
Just the other day Republicans were saying Biden was weak on oil. How 13.5million for ya?!
The guys said it was the market doing it. What policy of Biden that promoted oil production?
@@gamingcentral2295 Republicans surely didn’t need any policies to yell at Biden blaming him for the high gas prices you can’t have it both ways
Hahahahahaha Canada getting wrecked. Looks like the US stole your oil thunder
No – we’re net exporting total petroleum products – still net importing crude – particularly still importing Canadian crudes – refineries configured for mids can only absorb so much lights that we produce, a goodly portion of them are being exported to places that want to run lights. Those mids are often from Canada now where 20 years ago they were VZ and other foreign sources.
(later – I was still listening when I wrote this and the guest did mention it at the end) Left out is that alternate energy ALSO continues to grow at the same time… so grid is cleaning up year by year still as well. coal is dropping (about 92% goes to electricity generation) in total emissions as coal % of total electricity drops… so really, this slate is a pretty good trajectory regardless which side of energy someone favors.
Yes Biden wants the US to be more green, but he’s also aware that it’s currently more important to be less dependent on OPEC, especially Saudi Arabia and Russia.
Energy Security! Better increase Shale Gas Production.
🇺🇸
Record exports should’ve been expected as the US moves towards more nuclear and green energy in the mix. The production of oil is shocking.
Drillers are using their DUC wells drilled years ago and we are also importing a lot of Canadian crude.
Exactly, not only oil but hydro electric power. In BC we are building a HUGE dam with most going down to the states. We sit on a mountain of energy as a neighbour, but they’d rather shut down pipelines to look green and buy crude from hostile far away countries.
Phony number ..it includes natural gas liquids …which are not oil
Why the prices of oil are so high?!
Another fun fact. Global temperatures are at 1.4 degrees above pre industrial levels. At 1.5 (next year) we will be at the red line tipping points. We will cross the fail safe line. We will be irreversibly f..ked. In the future these oil producers (USA) be seen in the same light as the tobacco energy. Our grandchildren will never forgive us.
US are wanting a major war in the ME, so it makes perfect sense that they are wanting oil production ramping up big time
Thank you Joe Biden. Trump couldnt do it.