Image source: MaxSafaniuk- stock.adobe.com
According to the latest US government forecast, the US will extract more crude oil in 2023 than ever in history, more than twice as much as ten years ago. There will also be record-breaking natural gas production, with US exports of liquified natural gas (LNG) predicted to double in the next four years. Oil and gas production is predicted to continue at near-record levels until 2050, with one-third of global oil and gas expansion in the US.