US-based drilling companies work to produce more market supply while the Biden admin looks to outsource.
With record-high
and the market’s need for more supply, Tall City CEO Michael Oestmann says the company is working to increase daily production from 10,000 barrels to 20,000 by the end of the year.. "It creates American jobs." While Tall City’s private land can receive drilling permits in as quickly as 10 days, some of their Permian Basin neighbors on federal land are waiting anywhere from 9 to 12 months.
Though it’s a "miracle" any oil is being drilled at all, Simonetti points out three reasons why the U.S. doesn’t see more domestic production.to tax oil companies’ windfall profits could disincentivize investors.
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