“Drill, Baby, Drill” has been a slogan of the Republican party since 2008, but it has taken on a fresh prominence with the arrival of President Donald Trump. On his very first day back in the hot seat, the President declared a ‘national energy emergency’ and signed an executive order aimed at rolling back the red tape on the oil and gas industries.
“The US has the largest amount of oil and gas of any country on Earth,” he said during his inauguration speech “And we’re going to use it!”
Trump’s oil-rich approach was backed by the Senate Energy and Natural Resources Committee who stated: ‘Greater domestic oil production is not only possible – it is necessary to help protect America from global supply disruptions, create new jobs, pay down the debt, close our trade gap, reduce energy prices, and expedite the development of next-generation technologies.’
How much oil does the US produce now?
According to Statista, the US is already the world’s largest oil producer, and it is growing all the time. Its 590 operational oil and gas rigs produced 827.1 million tonnes of oil in 2023, up from just 713.3 million tonnes in 2020. This figure was already more than double the 333.1 million tonnes produced in 2010.
In 2023, the US produced more crude oil than any other country for the sixth year in a row. It was already a case of ‘drill, baby, drill’ with the US producing 20% of the world’s crude, which was as much as Russia and Saudi Arabia put together. Much of this increase is down to the kind of improved drilling technologies that National Firesleeve fire resistant hose sleeves protect.
How much oil has America got left?
If you’re thinking of strapping on those fire resistant hose sleeves and joining the great oil rush, then there is plenty of the black gold to go around. According to the Energy Information Administration, the US had 48.3 billion barrels of proven reserves at the end of 2022, and even this may be an under-estimate.
For example, Prudhoe Bay in Alaska was originally estimated to contain between one and five billion barrels, but it has already produced over 16 billion barrels and it’s still going strong producing half a million barrels a day. Similarly, estimates for offshore oil reserves have quadrupled in recent years as detection technology has advanced.
Increasing energy security
Even before Donald Trump was elected, the US was already surging ahead in exploiting its oil reserves. Energy Information Administration figures show that America set a new global production record of 13.3million barrels per day in December 2023.
Even with such impressive production, currently only 60% of the oil in US refineries comes from the United States, with 25% coming from Canada and 3% from Mexico. President Trump says he would like to see that figure greatly increased to ensure both energy security and national security.
Safe, baby, safe
Here at National Firesleeve, we want you to be ‘safe, baby, safe’ while you ‘drill, baby, drill’. That’s why our fire resistant hose sleeves are produced to the very highest quality and tested to the strictest of standards. Only then can you count on complete protection for your team and your equipment, even under the most testing of conditions in the harshest of environments.
To find out more about how National Firesleeve can help your company to take advantage of President Trump’s new energy security ambitions, get in touch with our team today. Thanks to fire resistant hose sleeves, plus a wide range of other fully tested and certified fire protection products, you can explore and exploit our natural resources with complete peace of mind.
