![](https://i.imgur.com/CLvY2jA.png")
14-03-2022, 07:03 AM
US is now the number 1 oil producing country in the World. This is despite Biden's banning the new oil drilling over climate cost
![[Image: 800px-Top-5-oil-producing-countries-webp.png]](https://i.ibb.co/Mskpq5Q/800px-Top-5-oil-producing-countries-webp.png)
https://en.wikipedia.org/wiki/List_of_co...production
https://www.nytimes.com/2022/02/20/clima...imate.html
Now that Russian oil import has been banned, Biden will lift the new oil drilling ban. Understand the shale oil production will pick up double fast. We should be able to see oil price going below US$100/- soon. The breakeven cost for shale oil is now around $60/= and the normal one is around $ 45/=.
https://en.wikipedia.org/wiki/List_of_co...production
https://www.nytimes.com/2022/02/20/clima...imate.html
Now that Russian oil import has been banned, Biden will lift the new oil drilling ban. Understand the shale oil production will pick up double fast. We should be able to see oil price going below US$100/- soon. The breakeven cost for shale oil is now around $60/= and the normal one is around $ 45/=.
