Drill

The Dow has now climbed up to its all time high that it achieved two years ago. As onshoring continues the economy will continue to grow. The US has now reached an all time high of 13.2 million barrels of oil per day which will bring down the cost of transportation and will help to offset the inflation that will accompany onshoring. OPEC will cut production by 2 million barrels per day starting in January to try and bring up the price of oil. The US is still exporting 4 million barrels per day of fracked oil and importing 4 million from other countries. The US exports are light sweet oil from fracking while imports are heavy sour oil. This is best for the world because the US can clean up sour (high sulfur) where other countries cannot. The US can produce 15 million barrels per day and should move in that direction. The first step should be to open the ten million acres in Alaska to drilling. These were opened by Trump but blocked by Biden. It's an exercise in futility to stop oil drilling here while China is building two new coal fired plants per week. The next biggest help is to increase exports of natural gas by speeding up the construction, which is now underway, of LNG export facilities.