US oil and gas rig counts reach lowest level in more than two years

The disappearance of the oil and gas industry, to an extent, has been rampant under the green push of the Biden Administration. They want fossil fuels and American made energy to die off, so they can instill their green policy driven, all-electric vehicle utopia. That has resulted in disastrous policies that have resulted in major cutbacks in our energy sector. That includes oil rigs.

Now, as we enter the final year of this chaotic tenure, oil and gas rigs have hit their lowest levels in over two years. Overall rig count is down now by 19 percent from just this time last year, dropping by another eight rigs just a couple weeks ago.

Oil and gas expert Jay Young says all of this has been in effort to streamline efficiency, and drill less under Biden's orders.

"We are going horizontal...we are doing three-mile-long laterals...they are trying to make these efficient to say they can spend $25 million on one well, with one rig, and produce three to four thousand barrels a day," he says.

Drilling is a bit of a fine art, as there are only so many drilling locations for a set number of companies. But these companies have worked around one another for years and managed just fine.

But eventually, things have to regress to the mean. While rig count is down, and they are producing the same amount, that production cannot last forever.

"It has to go down at some point...it cannot continue to go up with less rig count," he says.

America has plenty of plentiful areas in which to drill. Donald Trump has the Keystone Pipeline project, which was quickly nixed by President Biden while in office. There is also massive oil fields in Alaska, that Biden has also blocked off from drilling in efforts to 'save the environment.'

He has done all this while depleting the strategic reserves to near empty, with no real way to replenish them. All of it, again, in efforts to push their green agenda. They are hamstringing the industry and saving it may very well depend on November.

"If Trump is elected...you will likely see a huge surge in oil and gas drilling again," he says.

While the supply is fine right now, the big travel season is coming up. Specifically, Memorial Day tends to be a time when people want to get out and take road trips across the country. Summertime comes after, when people take the kids on road trips to various states as well.

That will lead to a big rise in gas demand, which could present problems.

"Our demand during summer...you will see a lot of pent-up demand because people will want to go out...which always happens. But if prices are down further, people will drive further. Which will hurt our supply," he says. "That will drive prices up during the summertime."

You would think Biden, who wants to extend his time in office, would be doing more drilling to bring down gas costs. But that would go against the Democrat desires, and that he will never do.