United States oil production just hit an all-time record of 13.6 million barrels a day, more than Saudi Arabia and Russia combined. What does American energy dominance actually mean for the family filling up a gas tank today?
Steve Milloy, senior policy fellow at the Energy and Environment Legal Institute and founder of junkscience.com, breaks it down. Before the Iran crisis, the United States controlled the marginal price of oil worldwide. Now, with the Strait of Hormuz bottled up, the world is short on oil and Americans are feeling higher prices at the pump.
Milloy walks through why America is still playing catch-up after eight years of Obama and four years of Biden: the climate agenda scared off investors, throttled permits, and halted pipelines. President Trump is now issuing 6,000 drilling permits a year, a 55% increase, and 167 crude tankers have declared United States destinations.
The long game: if the Iran situation resolves, the United States, combined with control over Venezuelan reserves, will be large and in charge of the global price of oil. That is energy dominance.
Learn more at jennybethshow.com and teapartypatriots.org. Share this episode to help more Americans understand what real energy dominance means for their wallet.
Chapters:
00:00 — 13.6 Million Barrels a Day
00:53 — Marginal Price of Oil and Venezuela
02:38 — The Biden Climate Agenda Hole
04:03 — How Long to Dig Out
05:20 — The End Run Around China
06:30 — Oil is a Powerful Weapon
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