US Shale oil production flatlining.
'Conservatives' will understand that this is not because of government regulation but because of business decisions.
Hah! Who am I kidding! Joe is out to destroy the US energy complex! We all know that! Like we know the election was stolen and Hunter Biden and drag are the most important political issues, and Jan 6 was a peaceful stroll. Benghazi!
/sarcasm
WSJ:
HOUSTON—The boom in oil production that over the last decade made the U.S. the world’s largest producer is waning, suggesting the era of shale growth is nearing its peak.
Frackers are hitting fewer big gushers in the Permian Basin, America’s busiest oil patch, the latest sign they have drained their catalog of good wells. Shale companies’ biggest and best wells are producing less oil, according to data reviewed by The Wall Street Journal.
The Journal reported last year companies would exhaust their best U.S. inventory in a handful of years if they resumed the breakneck drilling pace of prepandemic times.
Now, recent results out of the Permian, spread across West Texas and New Mexico, are mimicking the onset of a production plateau that has taken place at other, more mature U.S. shale plays.