What a relief...more American oil and gas is changing geopolitics for the better.
Washington Times (7/27/25) opinion: "It feels like simple economic theory would predict that if demand goes up by 10 million barrels and supply increases by 15.5 million barrels, prices should go down. Sure enough, they pretty much have. Oil opened this morning at around $65 per barrel. That compares with an average price in July 2010 of about $112 per barrel (adjusted for inflation). So, the world markets have already been altered and affected by the surge in production from the United States. Last year, we were — for the sixth straight year — the world’s largest oil producer, accounting for a fifth of global production. Our oil and condensate output is about equal to the combined output of Saudi Arabia and Russia. This is not to say that the United States is disconnected from world markets. An attack on Saudi Arabia or on critical infrastructure in the Middle East would certainly affect world markets, but the reality is that such an attack, and the attendant economic damage, would hurt other producers much more than it would hurt the United States."
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"Thanks to the shale revolution, United States’ energy production has exploded in the last few years. With this administration’s commitment to energy DOMINANCE, we are on the forefront of leading the nuclear revolution too."
– Energy Secretary Chris Wright
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