The U.S. is NOT and will never be a "Swing Producer"
Posted: Fri Dec 20, 2019 11:25 am
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.
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.