Bob Fraser argues the U.S. is now the world's largest oil producer, ahead of Saudi Arabia. Domestic production avoids piracy and tanker risks. Smaller U.S. oil producers unconstrained by ESG pressures stand to gain from increased output.
And what people may not realize is that America is actually the world's largest oil producer. We have taken over the title and we've thought for years the marginal production increases. If you want more production, you go to Saudi Arabia and say, hey, up your production. But truly America is actually the number one producer. And by the way, it doesn't require shipment. It's not subject to piracy, available tankers, et cetera. It's here. We really need to ramp up production in the US. And it's also clear it's making a huge opportunity for small US producers who are not playing this, this ESG game and who are happy to invest in production.
