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Powerline Blog
Power Line
28 Aug 2023
Steven Hayward


NextImg:The Daily Chart: The Shale Whale

If you need a reminder of how profound the shale revolution has been to domestic oil production in the U.S. and the western hemisphere as a whole, note how our region of the world became a net exporter of oil after being a heavy importer for decades:

To be sure, some of this increase came from Latin America, especially Brazil, though it could be more if Venezuela weren’t s dysfunctional socialist state. But the U.S.—only trend is impressive, with oil production rebounding toward a new high this year despite the ongoing hostility to domestic energy by the Biden Administration: