Why U.S. Oil Production Won't Ramp Up Overnight

President Biden announced a ban on Russian oil and natural gas imports to the U.S. in response to its invasion of Ukraine, a move he warned could lead to an even greater surge in gas prices. The ban is prompting a conversation about the current oil production levels in the U.S. and whether or not the industry can ramp up production to soften the blow to American families at the gas pump. Clark Williams-Derry, Energy Finance Analyst with the Institute for Energy Economics and Financial Analysis, breaks down the state of the U.S. oil industry and how the ban might impact production levels here at home.