Roll out the barrels: US oil production is reaching new heights

11/26/23 7:00PM

Barrels beyond belief

‍The US is producing more oil than ever before. That’s according to the latest data from the Energy Information Administration, which revealed that the nation’s crude oil production hit 13.2 million barrels per day, surpassing the pre-Covid peak.

After relying on imported oil from around the world for decades, the US has turned its energy dependence into a strength in recent years. Domestic oil production has more than doubled since 2012 — which has made the US the world's leading producer, after beating Russia for the top spot in 2018.

‍Lone star: producing star

‍As of last year, the US accounted for nearly 15% of the world's crude oil production, with Texas alone contributing more than 40% of that. Indeed, if Texas were a nation, it would be the fourth-largest producer, eclipsing the entire European continent and the UAE, which had reportedly planned to use the upcoming COP28 UN climate summit in Dubai to vie for fossil fuel deals.

Current projections indicate that the planet is on track to warm by 2.5-2.9°C above pre-industrial levels by 2100 — a modest improvement from the 3°C estimate at COP21 in 2015, but still significantly worse than the agreed-upon target of 1.5°C. Even so, for its part, the US has pledged to achieve "net zero" by 2050.

J. Edward Moreno11/4/25

Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

Tom Jones

10/6/25

OPEC and others are boosting oil production as the race to catch up with the US goes on

This month’s 137,000-barrel-a-day boost is a little more modest than some expected.

Millie Giles

RED FLAG, GREEN FLAG

9/25/25

China, the world’s largest carbon polluter, has pledged to cut emissions for the first time

President Xi Jinping has announced that China is aiming to slash carbon emissions by up to 10% in the next decade.

solar power station on the rooftop of the factory

Claire Yubin Oh9/19/25

John Wayne Airport in Orange County tops the list of North America’s favorite airports

Despite a record year of passenger numbers, flight cancellations, and delays, a new survey has revealed that flyers have been increasingly satisfied about their experiences in North American airports.

According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

Here are the region’s favorites:

Millie Giles

DOT-COM BUBBLE

9/12/25

More than 40% of American adults now report being online “almost constantly”

While a new survey showed Japan has the greatest share of perpetually online people, there was a significant number reporting not using the internet at all.

Roll out the barrels: US oil production is reaching new heights

More World

Starbucks sells control of China business for $4 billion

John Wayne Airport in Orange County tops the list of North America’s favorite airports

Latest Stories