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Endgame for oil

This is the best summary I could come up with:

As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that.

America is exporting the same amount of crude oil, refined products and natural gas liquids as Saudi Arabia or Russia produces, S&P said.

Record-shattering US production is helping to offset aggressive supply cuts meant to support high prices by OPEC+, mainly Saudi Arabia and Russia.

Republican Sen. Dan Sullivan of Alaska warned in a floor speech that the Biden administration’s war on energy is a “gift to our adversaries.”

Of course, that doesn’t mean it’s Biden policies that have paved the way for record US oil production, nor that the White House would rush to take credit for that.

“President Biden has been dragged kicking and screaming from his initial keep-it-in-the-ground strategy towards a more pragmatic policy,” McNally said, noting the administration was “mugged by the reality of high gas prices and Russia’s invasion of Ukraine.”

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