The U.S. oil and gas industry has boosted exports to record highs as Europe races to wean itself off of Russian energy. Since July 2020, U.S. oil inventories have plummeted by 421 million barrels, which could throw a wrench in America’s plan to help ease Europe’s energy crunch. The United States will need to pump a lot more oil if it wants to fill its declining stockpiles. The U.S. energy industry has taken its role of savior of Europe seriously. After boosting LNG exports to a record because of Europe’s thirst for energy, oil exports from the U.S. are now on the rise, as well, but the trend may not be sustainable. Reuters’ John Kemp wrote in a recent column that the United States became a net exporter of crude oil and fuels last month, with the difference between imports and exports at 3 million barrels daily. He also […]