RE:RE:EIA: Us Proven oil reserves down by 19%, from 2019 to 2020
MaximusGainus wrote: Wow. If this data is true, it does explain why Biden is pushing his energy transition so hard and telling other countries to increase their production, instead of getting the US domestic energy producers to ramp up. They know they will need every drop of oil for the future as the US is quickly running out.
It's not just the US. I follow China very closely ;-). I read everything about it. China is also in dire straits. Its ambition is to overtake the world and be the number one economy. It can't get there without meeting the demand for oil and no oil means no economic growth. China has been sitting on hot stove and that explains my hyperactivity (oh gosh!) on oil. It's also been ramping up all kinds of crazy activities in the South China Sea for God-knows-what.
I can't believe that oil is not reaching $100 soon.