US oil production is 20% higher now than in 2017 and climbing. Unfortunately it’s below pre-COVID levels and that’s keeping oil prices high—and the reduced amount of Russian oil in the global market.
Despite this, our fleet (and personal) costs/mile might only be slightly higher than they’ve been for the past 50 years because of the improvement in vehicle mileage.
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| https://www.macrotrends.net/2562/us-crude-oil-production-historical-chart |
So what else can we do? Reduce demand to ease supply pressures. 66% of oil is used for transportation. Next largest category at 28% is industrial usage (plastics, asphalt, etc).
This means we need to improve logistics and workforce mobilization—not just commuting but also team deployments (“mob”/“demob”).
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