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(Reuters) - President Joe Biden is set to ban new offshore oil and gas development across 625 million acres (250 million hectares) of U.S. coastal territory, Bloomberg News reported on Friday.
According to the US Energy Information Administration, the US pumped out an average of 13.4 million barrels of oil a day in 2024, setting a fresh record for the third straight year in a row.
The US is pumping a record amount of oil. But that may not be welcome news to other crude-producing nations. Domestic output reached 13.4 million barrels a day in August, eclipsing all previous ...
Oil prices slid on Tuesday after President Donald Trump signed executive orders aimed at unleashing US production and hinted at tariffs against trading partners Canada and Mexico, sparking fears ...
In 2023, U.S. exports to Mexico totaled US$322 billion, while the U.S. imported over US$475 billion of Mexican products, according to data from the U.S. Census Bureau. [9] Roughly 70 percent of Mexico's natural gas consumption comes from the United States, and the U.S. imports about 700,000 barrels of crude oil from Mexico each day. [3]
He also invoked the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, saying the low drilling potential of th ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... In Other News.
Federal offshore areas withdrawn from oil and gas leasing. The United States offshore drilling debate is an ongoing debate in the United States about whether, the extent to which, in which areas, and under what conditions, further offshore drilling should be allowed in U.S.-administered waters.
(The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves, [ citation needed ] and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at ...