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Oil and Gas Are Back and Booming

Benoît Morenne and Jon Hilsenrath of The Wall Street Journal report on the return of America’s oil and gas industry.

The C3 Take
  • Natural gas production has hit record levels while crude oil production is at the second highest level it has ever been.
  • While the Biden administration has limited production on federal lands, companies have begun to tap private lands to reach record production levels.
  • American oil and gas can play a crucial role in reducing global emissions as domestically produced fuels are far cleaner burning than energy produced overseas.
  • Additionally, domestic energy production is critical to bolstering energy security for America and our allies.

“As surging global demand for U.S. oil and gas has fueled high profit margins for producers, Mr. Biden has accused them of profiteering during a crisis. They take a different lesson from their fortune. ‘What’s really happened is the world has realized there is a need for hydrocarbons in energy policy,’ said Domenic Dell’Osso, Chesapeake’s chief executive.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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