Who Has the World’s Oil, and Who Can Actually Produce It

Let’s compare the U.S. electricity sector to the U.S. oil sector. An economy wants to be the U.S. in the linked graphic, able to create a lot of value with its resources. (Venezuela is quite the opposite.) What is the strength of the U.S. “model”? A relatively free and open market in which anyone can participate. But the oil majors produce most of U.S. oil and gas, right? Not even close. There are about 9,000 independent oil and natural gas producers in the U.S. and they produce 83% of our oil and 90% of our natural gas (https://lnkd.in/d2M84822). And they’re ALL competing with one another so continuously innovating and never standing still. Is this the way electricity works? Nope. So if we want the U.S. electricity sector to be more like the U.S. oil sector, what do we need to do? We need to allow entrepreneurs and private investors to create new utilities, new grids of all shapes and sizes. We need to take the decision making out of the hands of the regulators and put it into the hands of the market where it belongs. That’s what “Consumer Regulated Electricity” (CRE) can do: open the door as wide as possible for independent electricity companies to take on our nation’s pressing need for more and faster supplies of new electricity.

https://www.visualcapitalist.com/who-has-oil-reserves-and-who-can-produce-oil/