You might want to explain what the word “we” is in your statement. Of those 52%, how many are US owned and operated companies. Better yet, why do “we” have to supply the rest of the world?
52% are drilling or pumping? Then if they are pumping, then how much of the current production around the world is being pumped by those 52%? Oh boy, numbers games!
“You might want to explain what the word “we” is in your statement. Of those 52%, how many are US owned and operated companies. Better yet, why do “we” have to supply the rest of the world?”
Oil and gas are sold on an open market and while the vast majority oil and gas produced in the USA is sold and consumed in the USA, there is some that is exported.
See: Free Market
“52% are drilling or pumping? Then if they are pumping, then how much of the current production around the world is being pumped by those 52%? Oh boy, numbers games!”
Not a numbers game at all. We got to drill before wells are put into production. And of the 1738 rigs in operation in the USA today, some of those will never produce, some will be be put into production immediately and others will be capped and will be put into production when oil reaches $150.00 a barrel.