A lot of US oil wells are using fracking. Fracking produces oil and gas very quickly, but the well also declines quickly. First year decline for tight oil is 50% and second year another 30%. For shale oil itvis 34% in the first year.
Those two make up over half of the US oil and gas production. So no permits would mean US oil production falls by a third within 2 years or so.
A lot of US oil wells are using fracking. Fracking produces oil and gas very quickly, but the well also declines quickly. First year decline for tight oil is 50% and second year another 30%. For shale oil itvis 34% in the first year.
Those two make up over half of the US oil and gas production. So no permits would mean US oil production falls by a third within 2 years or so.
https://jpt.spe.org/life-after-5-how-tight-oil-wells-grow-old
https://www.hartenergy.com/exclusives/why-us-shale-production-declines-are-higher-you-might-think-188251