As the world grapples with the existential crisis of climate change, environmental activists want President Joe Biden to phase out the oil industry, and Republicans argue he’s already doing that. Meanwhile, the surprising reality is the United States is pumping oil at a blistering pace and is on track to produce more oil than any country has in history.
The United States is set to produce a global record of 13.3 million barrels per day of crude and condensate during the fourth quarter of this year, according to a report published Tuesday by S&P Global Commodity Insights.
Last month, weekly US oil production hit 13.2 million barrels per day, according to the US Energy Information Administration. That’s just above the Donald Trump-era record of 13.1 million set in early 2020 just before the Covid-19 crisis sent output and prices crashing.
That’s been helping to keep a lid on crude and gasoline prices.
Oil production will not stop until we have alternatives to other items oils helps produce. I.e. plastics, latex, etc.
Edit: all of you saying it comes from trees might want to check again. Synthetic rubber is used as it can prevent allergic reactions from the natural protein of the plant. Also synthetic rubber is used a little more than natural rubber.
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Latex is produced from rubber trees, not petroleum.
You might want to check again. Synthetic rubber is used a little more than natural rubber.
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Synthetic rubber and latex are different things. Your sentiment isn’t wrong, just that specific example.
A huge chunk of plastics come from natural gas, not oil. Latex comes from a tree. As does natural rubber, which some tire manufacturers are returning to.
PE, PP, PVC, polyacrylonitrile, butadiene rubber can come either from gas or oil, but oil can be more convenient. PS, nylons, PET, polycarbonates, epoxy resins, PMMA, phenolic resins require components derived from oil
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