re: ‘Drill, Baby, Drill!' Will Secure American Prosperity For The Twenty First Century

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Not drilling at record levels, but PRODUCING at record levels, yes. Efficiency with shale has gotten to the point there’s no need to have the number of rigs working that we did several decades ago. The technological advances, along with legislation passed in 2015, is a big reason why we’ve been a net “total petroleum products” exporter since, I think, sometime in 2019.

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This but the majority of our aging refineries are set up for heavy crude. Shale oil is lighter and requires a cracker to process. Investment is needed to update the majority of our refineries.