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Suggested Headline
Suggested Headline:
Russia to Cut Oil Production by Half a Million Barrels a Day | WTVN | 2/13/23
Suggested Description
WTVN via FOX News Radio recently asked Jay Young to come on the air 🎙 in Columbus, OH to discuss the recent news that Russia is set to cut oil production by at least 5%. Jay, a fourth generation oil and gas expert, shared his expertise on the Legacyretirementgroup.com phone line.
He began by discussing the implications of President Biden’s decision to discontinue the Keystone Pipeline project and how it would have supplied the US with enough oil that we wouldn’t have needed Russian oil. He then went on to explain how any disruption in oil anywhere around the world affects the global market and that the lack of an increase in rig count by the major oil and gas companies is also contributing to the rising prices.
Jay Young also discussed Chevron’s global presence and their decision to spend billions in stock buybacks rather than increasing production. He explained that board approval is necessary to increase production and that the internal rate of return needs to be taken into consideration when deciding to drill.
Finally, Jay concluded with a reminder to check out his book, ‘The Upside of Oil and Gas Investing’ at kingoperating.com. #oilproduction #oilandgas #Russia #PresidentBiden #Chevron #JayYoung #TheUpsideofOilandGasInvesting