Oil prices rose during early Monday trading after a long streak of weekly declines, with the overall market sentiment expected to remain lukewarm due to worries about the state of the American economy. Brent crude oil prices were trading at $75.42 per barrel on Monday, as of 10:44 a.m. EST, up from its opening of…
Oil Prices Rise as Concerns About US Economy Persist
May 15, 2023
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Report: Texas Tops Nation in Oil and Gas Production, Jobs
February 13, 2023
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Texas is the top oil and natural gas producer and industry employer, according to a new report. The state also ranked highest in the country in industry wages, payroll, and Gross Regional Product (GRP). GRP is the Gross Domestic Product (GDP) for a region of study. As the country’s top oil producer, Texas supplied more…
Exxon’s Vigorous Comeback
Commentary In 2020, I wrote about “The Fall of Mighty Exxon.” The “fall” referred to Exxon’s stock having been dropped from the Dow Jones Industrial Average (DJIA) after a 92-year stretch of being a mainstay of that index. In retrospect, just two-and-a-half years later, hindsight indicates that dropping Exxon from the Dow may have been…
US Oil Production to Maintain Low Growth in 2023: EOG Resources
November 5, 2022
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The United States oil production will maintain a low growth rate in 2023, an industry leader said. Ezra Yacob, president of EOG Resources Inc., told analysts his prediction during a third-quarter earnings call. The number of oil rigs, frac spreads, and workers indicated a low growth rate in the near future, he said. Also, fewer…
America’s Oil Supply Problem Worse Than You Think, Industry Leader Warns
November 5, 2022
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America’s oil supply problem is worse than most predictions, Ezra Yacob, president of EOG Resources Inc., told analysts during a third-quarter earnings call. Oil production in the United States will maintain a low growth rate in 2023, he said. The number of oil rigs, frac spreads, and workers indicated a low growth rate in the near…
US Oil Output at Highest Level Since Before the Pandemic
In August, oil production in the United States rose to its highest level of output since the start of the COVID-19 pandemic, according to the U.S. Energy Information Administration (EIA). Oil output in August 2022 was at nearly 12 million barrels per day (bpd), the latest data from the EIA shows. This is up 6.2…
‘Disingenuous’: Biden Says He Hasn’t Stopped Oil Production. Here’s the Reality
President Joe Biden said Tuesday that he has not stopped or stalled oil production; despite this, the Biden administration has implemented policies that are derailing domestic fossil fuel output. Biden asserted that he wanted to “debunk some myths” about his energy policies and claimed that his administration has done the “opposite” of discouraging oil production…
White House Slams OPEC. Really?
Commentary Have you ever read a headline that struck you with amazement and caused you to think, “Did they really do that?” That was my reaction when I read the headline in The Wall Street Journal, “U.S. Takes Aim at OPEC for Oil Production Cuts.” Specifically, the White House denounced OPEC+’s announcement of their intention…
Capitol Report (Oct. 5): Biden Meets Desantis in Florida; FBI Says Murders Up Significantly Across US
October 5, 2022
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President Joe Biden visits Florida. What does he say about damage caused by Hurricane Ian, and how is Florida Gov. Ron DeSantis addressing Biden’s actions? OPEC ignores Biden’s plea to ramp up production and instead does exactly the opposite. It’s slashing oil production—the biggest cut in two years. How is the White House responding? The…
OPEC+ Agrees to Sharp Oil Output Cut in Blow to Biden
October 5, 2022
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The OPEC+ alliance of crude-producing countries has agreed to deep cuts in oil output, providing a likely floor to falling prices and delivering a blow to President Joe Biden’s pleas for the cartel to boost production to help quell soaring inflation. The Organization of Petroleum Exporting Countries (OPEC) and its oil-producing allies, known as OPEC+, agreed…
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