Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears

Posted on AllSides December 4th, 2023
From The Left
Meridith Kohut for The New York Times

American oil fields are gushing again, helping to drive down fuel prices but also threatening to undercut efforts to reduce greenhouse gas emissions.

Only three years after U.S. oil production collapsed during the pandemic, energy companies are cranking out a record 13.2 million barrels a day, more than Russia or Saudi Arabia. The flow of oil has grown by roughly 800,000 barrels a day since early 2022, and analysts expect the industry to add another 500,000 barrels a day next year.

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