It absolutely has increased from the lows caused by Covid's
Posted on: October 12, 2022 at 10:46:55 CT
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impact on demand. It has not returned to pre-covid levels yet but it is getting close. You can also note that the high production level achieved under Trump was not all that sustainable and started to decline even before Covid hit.
Posters on this forum have this fantasy that the oil industry can just turn on or off a tap and the oil will flow or if a company gets a lease they are out producing oil the next day. It is a slow process complicated by supply chain issues that stem from Covid - like drilling companies losing their employees when nobody was drilling wells. Leasing to production can take years, especially offshore or in places like Alaska.