By Schenley N. Kent

Domestic oil production in the U.S. reached a new record in November 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration. In “Domestic Oil Production in U.S Reached Record Levels,” historical data shows that the new domestic oil production record set in November surpassed the previous record of 13.25 million barrels per day achieved in September 2023. Crude oil production in the U.S. has increased by 68 percent in the past 10 years. According to the Independent Petroleum Association of America, the U.S. has primarily increased its domestic oil production due to improvements in fracturing technology. Hydraulic fracturing has been used since 1947 and involves injecting liquid and materials at high pressure to release and extract energy in the form of natural gas and oil from underground wells. According to the article, fracturing is controversial among some groups, such as the Sierra Club, who oppose fracturing due to its “unacceptable risks” to communities, the environment, and the climate, including as a result “clear evidence that natural gas and oil extracted by fracking are major greenhouse gas contributors.”

Weighing in on the other side of the argument is the column “Record Production Means Energy and Economic Security,” from the Independent Petroleum Association of America. In this article, the Association points out that the country’s record-breaking production levels have not come to fruition at the expense of harming some Americans. The Association reports that the country’s “oil and natural gas producers are innovating to produce more oil and gas than ever while generating less emissions and bringing reliable, affordable energy to Americans and our global allies.” The U.S. crude oil production has reached a record high, thus successfully positioning the country as a behemoth in the global energy market. The Association appears to address the Sierra Club’s concerns about the environmental impact that energy extraction poses to the environment by stating that the American oil and natural gas industry has placed a high priority on sustainability best practices. In the article, the Association explains that data from the Environmental Protection Agency showed substantial decreases in the amount of methane gas emissions across the board in oil and natural gas-producing basins. Data specifically points to the Arkoma Basin area (Arkansas and Oklahoma), with a 77 percent decrease over the past five years, even with record-breaking energy production. The Association credits this decrease as indicative of U.S. operators’ ambitious goals to produce oil and gas responsibly by preserving and protecting the environment for today and future generations.

With the U.S. producing a record level of oil and natural gas, the Association’s article warns that uncertain government regulations can stifle energy production, thus directly impacting costs for consumers and global markets. According to the article, President Biden’s administration is trying to limit access to oil and gas development and producer capital access by adding new taxes and increasing federal regulations. These administrative burdens have the potential to stall energy production through delayed permitting, infrastructure, and regulatory barriers that diminish producers’ ability to operate effectively.

Both articles highlight the county’s meteoritic rise in crude oil production in 2023. The country’s recent advancement of record-high domestic oil production levels highlights how technological advancements and investment increases have contributed to this milestone. Based on metrics from the article, 2023 looks to be a record-breaking year for oil and natural gas production in the U.S. The oil and gas industry can continue to drive this economic growth by working in concert with government regulators to promote responsible environmental stewardship during this booming oil production period. Overall, both articles underscore the importance of domestic oil production for the nation’s energy independence and economic prosperity.