Several of our members have sent me emails insisting that the U.S. now has the capacity to ramp up or down oil production "at will" replacing Saudi Arabia as the world's "Swing Producer".
1. Here is why that will NEVER happen: https://www.investing.com/analysis/no-s ... -200493658
2. The U.S. still imports a lot of crude oil. We are not "Energy Independent" when it comes to crude oil and unlikely to ever be.
If the U.S. was cut off from the global oil market we would survive, but there would need to be a lot of changes and our standard of living would go down.
The U.S. is NOT and will never be a "Swing Producer"
The U.S. is NOT and will never be a "Swing Producer"
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group