Tag Archives: US oil production

The US economy is increasingly reliant on activity in Texas, itself very dependent to oil.Texas, the second state by GDP after California, but better endowed than the latter with oil resources, has become a major driver of US growth, especially since the energy boom of the 2010s. What we’ve learned with the ups and downs of oil prices over the past few years is that high oil prices are great for Texas and therefore positive for the US economy, in spite of the hit to the individual US...

While US oil production continues to grow, the increase in oil sales to China could help moderate Trump administration invectives against China.The ‘revolution’ in tight oil production means that US oil production is about to break the annual record of 9.6 million barrels per day (mb/d) reached in 1970. Under rising pressure from oil producers, the Obama administration significantly loosened rules on crude oil exports, which have boomed. But where is all this oil going?China has accounted...