๐บ๐ธ The U.S. is drowning the world in oil
Every few years someone declares the age of U.S. oil dependence, the memory of 1970s gas lines and Arab embargoes, permanently over. Last year the numbers finally stopped arguing. The U.S. pumped a record 13.6 million barrels of crude a day, not just more than anyone else, but more than any country in the history of the planet.
Here's the field.
๐บ๐ธ United States: 13.6mb/day
๐ท๐บ Russia: 9.9mb/day
๐ธ๐ฆ Saudi Arabia: 9.6mb/day
๐จ๐ฆ Canada: 5.0mb/day
๐ฎ๐ถ Iraq: 4.4mb/day
๐จ๐ณ China: 4.3mb/day
๐ฎ๐ท Iran: 4.1mb/day
๐ฆ๐ช UAE: 3.8mb/day
๐ง๐ท Brazil: 3.8mb/day
๐ฐ๐ผ Kuwait: 2.6mb/day
Rewind to 2008 to see how wild this is. Back then U.S. output was sliding and the country was the world's biggest oil buyer. Then shale drilling cracked open the Permian Basin in Texas, and production has shot up 172% since. That one patch now pumps almost half the country's crude on its own.
And the ripple effects are huge. The U.S. barely touches Gulf oil anymore, hasn't taken a drop from Russia since 2022, and doesn't just cover itself, it now outsells everyone as the world's top oil exporter.
Which is exactly why it shrugged when the Iran war choked the Strait of Hormuz, dropping tanker traffic from 138 ships a day to almost nothing. That cushion is what let Washington keep sending warships, hitting Iran, and drawing down its reserve without drivers feeling it at the pump. The NYT even pegged the U.S. as the biggest financial winner of the whole thing, around $50 billion richer.
Everyone else is sanctioned, at war, or watching their oil choke through a strait they don't control. The U.S. just opens the taps.
Production is power, and this is the most powerful anyone's ever been at it.
Source: @jackprandelli, EIA, Wolf Street, Reuters, New York Times / Writer: Daniyal
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