Here's a good chart from Art Berman (generally a pretty reliable source of information) using Enverus data, showing 2020 annual decline rates in each major producing state in the US. America's total crude plus condensate production, all wells, now declines 42% per year.

That, boys and girls, is a stunning number. That should make the hair on your head stand up like my 'ol buddy, Buckwheat's.

Now, I ask you...with annual decline rates of 42%, with most of our future oil eggs in the Permian Basin HZ basket - deeply in debt, unprofitable at $50 oil, and totally out of other people's money to use to drill more wells...does exporting 1 billion barrels of America's last remaining oil resources every year to Asia, or wherever, make sense?

O'tay then. I didn't think so.