I guess I have to explain. The Permian is the sole reason for the US’s growth in oil and gas production. Why is that? Because of the three things I listed. The invention of long horizontal drilling enabled wells to contact more of the reservoir and become economic. The use of fracking in these horizontals allowed the oil in this very tight rock to actually flow into the well. The lifting of the export ban (and high oil price) gave drillers incentive to drill as much as possible.
Here, you can see how oil production took off long before Trump became President. His “elimination of regulations” didn’t change much of anything.
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No sure if it’s a state of the union but Biden will address a joint session of Congress on April 28, 2021.
Puts this baby to bed.
Allan
