You have no understanding whatsoever how the oil industry in a free country works.
Oh the irony.
. When the government is effectively waging war against the oil industry, the oil companies are going to take much less risk.
Again, your parroting unsubstantiated alt-right MSM propaganda. Can you produce any verifiable data that supports this claim?
. Biden cancelled the Keystone Pipeline on day one
Keystone Pipeline would of transported Canadian crude to the gulf coast where most of the refined product would of been shipped overseas having very little affect on u.s. petrol prices.
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. Trump supported the oil industry and by 2019 we were energy independent. Biden has been in office one year and we are back to begging others to produce more oil.
Here you show your lack of understanding on what energy Independence actually means. First, one needs to to add up all of our energy production (oil, natural gas, coal, renewables) and then subtract our net energy consumption. The U.S. is a net exporter of coal and natural gas, so it really comes down to the petroleum balance.
U.S. net imports have been declining since 2005 as a result of hydraulic fracturing. That year, U.S. net imports of petroleum and petroleum products (e.g., gasoline, diesel, jet fuel) averaged 12.5 million barrels per day (BPD). By the time President Obama left office, the number had declined to 4.8 million BPD . During Obama’s last full month in office, the number was 4.2 million BPD. When donald took over, the downward trend continued. During donalds last year in office, the net import number turned negative. It is therefore true that we gained energy independence (per this definition of net imports) under donald. Net exports in 2020 averaged 635,000 BPD for the year.
However, when the Covid-19 pandemic resulted in widespread stay-at-home orders, U.S. energy demand and energy production both plummeted. For the first four months of 2020, net exports averaged one million BPD. But then by May we had to start importing again. In May and June the U.S. imported three quarters of a million BPD. In the second half of the year, net imports once again became net exports. For the full year of 2020, the U.S. became a net exporter for the first time in modern history.
In 2021, we oscillated between net imports and net exports on a month-to-month basis. In certain months, we were net importers (and hence, lost our “energy independence” per that definition). In other months, we were a significant net exporter.
What wasn’t clear was whether the U.S. would be a net exporter for the entire year of 2021. But the Energy Information Administration recently posted the numbers for December, and we now have an answer. Net exports grew each month from September through December to push the final average for the year to a net export number of 162,000 BPD. That is significantly down from 2020, but it is still energy independent according to the net export definition.
In 2021, we oscillated between net imports and net exports on a month-to-month basis. In certain months, we were net importers (and hence, lost our “energy independence” per that definition). In other months, we were a significant net exporter.
The Energy Information Administration recently posted December export numbers that showed the U.S remained energy independent in 2021.
www.forbes.com
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