Record-high Gas Prices Put New Spotlight on Domestic Drilling

[Elderberry]

Texas Scorecard by Emily Wilkerson June 14, 2022

Drilling oil in the United States could help ease the price at the gas pumps.

As average gas prices in the United States top $5 a gallon, and with President Joe Biden planning to meet with Saudi Arabia’s Prince Mohammed Bin Salaman next month, the administration is looking for solutions to America’s rising gas prices.

However, some say there is a simpler solution to the crisis, and it doesn’t include relying on other countries.

With Texas being the largest oil-producing state in America (with North Dakota and New Mexico following right behind), the issue of rising gas prices could be solved by drilling within the United States.

In a recent interview with Texas Scorecard, Railroad Commission Chairman Wayne Christian said, “People don’t recognize the value of oil and gas to the state of Texas to the free world. I think the horrible events in Ukraine have made it very evident of the power of oil and gas to our entire western society.”

More: https://texasscorecard.com/state/record-high-gas-prices-put-new-spotlight-on-domestic-drilling/

[IsailedawayfromFR]

At this point, all the signs given by the current administration toward dampening of domestic drilling means very little additional drilling or production will occur in this country until such time as this confiscatory congress and president is replaced with those who are more likely not to enact policies that overturn the ability to make money.

to do otherwise would be a violation of the companies' fiscal responsibility to its shareholders.

[Hoodat]

Drilling oil in the United States could help was already helping ease the price at the gas pumps before Biden decided to end it.

There, fixed it.