Crude oil production on track to break 2019 mark.....and why.....

[PostmodernProphet]

Cypress heralds a return to US domestic oil production.......let's not forget why....

https://www.kirkland.com/publications/blog-post/2022/04/onshore-federal-oil-and-gas-leasing-resumes#:~:text=Although%20the%20Biden%20administration%20is,federal%20oil%20and%20gas%20leasing.

the courts ordered Biden to resume oil leasing......

On April 15, 2022, 16 months after issuing Executive Order 14008, which, among other things, enacted a temporary moratorium on the sale of new oil and gas leases on federal lands and waters (the “Climate Order”1 discussed in prior Kirkland blog posts), the Biden administration announced that it will resume onshore oil and gas lease sales on federal lands effective April 18, 2022 (the “Announcement”).2 This action is the latest development on federal oil and gas leasing following the Biden administration’s temporary moratorium on new federal oil and gas leases in the Climate Order and subsequent stops and starts in the courts (including a federal court’s June 2021 preliminary injunction of the January 2021 moratorium, discussed in a prior Kirkland blog post). Although the Biden administration is continuing to appeal the June 2021 injunction to the Fifth Circuit, it is proceeding with the new onshore lease sales to comply with the June 2021 order to resume new federal oil and gas leasing. According to the Announcement, 173 parcels on approximately 144,000 acres of land will be authorized for oil and gas leasing and development pursuant to what the Announcement describes as a “significantly reformed” federal leasing program.3

note Biden continues to appeal the court's ruling and if he wins he will resume bankrupting the oil industry as he pledged to do if elected.......