Despite the best efforts of those who would utilize the preposterous climate change scare to control us and depopulate the world, petroleum still rules world economies. About 80% of all world energy is petro-based -- it fuels industrial and agricultural production along with transportation. Constricting supplies causes all prices to rise -- the inflationary effects are well-known (except perhaps to the bright thinkers promoting net zero policies, which are tanking their economies and immiserating their citizens).
For this reason, foreign policy strategists, media pundits, and governments who listened to them for decades avoided attacking Iran, fearing worldwide disruption of a critical supply. Yet at the moment, by ignoring all these bright thinkers and conventional analyses, the President’s genius strategy has placed us in the driver’s seat. We are now the world’s top source of oil and gas and control major distribution flows of petro supplies from around the world.
Our own supplies are formidable.
The U.S. is an absolute energy monster * Sitting on 46 billion barrels of proved crude reserves (60% still locked in tight rock) * Permian Basin alone pumps 6.6 million barrels/day, more than every OPEC country except Saudi * Total U.S. crude: 13.6M barrels/day, the world’s #1 producer, beating Russia (9.1M) and Saudi (9.3M) * Natural gas? Not even close, record 43.2 trillion cubic feet in 2025, about 25% of global supply. The U.S. out-produces every petrostate on the planet. -- @hedgeye
We also control the sale and transportation of oil from Venezuela, which holds 17% of all the world’s known oil reserves. Maduro used to provide this free or cheaply to Cuba and China. Now it goes at market prices for the benefit of Venezuelans and to U.S.-approved channels.
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