FOXNEWS Cavuto Live January 1, 2022 16:31:00
Economies around the world have reopened on the one hand, but on the other hand there's been a lack of investment in the oil patch in order to get more oil out of the ground. >> that lack of investment and finding new oil has meant that in the past year, there has been the smallest amount of new oil discoveries than at any time in the past 75 years. 4.7 billion barrels of new oil. that compares to 12.5 billion the year before and as we've said, the smallest amount since 1946. also means that gas and oil pipelines are somewhat underused. utilization rates now at about 50%, that means about half...