Jul 3, 2019
Dee Carter has a window seat on the Texas oil boom. He's in Midland, right in the heart of the Permian Basin. The Permian now produces more oil than Saudi Arabia. The US just quietly became the world's leading oil producer, pumping over 12 million barrels per day. Some are predicting production will skyrocket to 17 million bpd in just a few short years. But there's more to oil than just pumping crude. The refined products market has taken a number of jolts lately. That's why gas prices have remained higher in the Northeast, as a major Philadelphia refinery suffered a big explosion and face permanent shut down. Will Uncle Sam let them walk away? Good question.