In about May of 2020 the US oil industry could not compete because of the Saudi /Russian price war where the price of oil got down where it was selling in the Minus region.
Nobody on the right seems to remember that.
The US oil producers went to Trump and put political pressure on him and he went to the Saudi's and TOLD them to cut their production and raise prices or he was going to stop their Military aid,
www.reuters.com
Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources
By Timothy Gardner, Steve Holland, Dmitry Zhdannikov and Rania El Gamal
www.reuters.com
It was THAT price war that had the US oil producers shut down their wells everybody is trying blame Biden for all of this and that isn't true He had nothing to do with the US oil industry shutting down.
and before this happened we were a NET ENERGY EXPORTER NOT energy independent , we still imported oil about 7 million barrels a day
US oil producers were pumping almost 13 million barrels a day the most ever in Dec 2019, and we were consuming about 20million barrels a day
then the price war and the US production fell to 9.711 million barrels a day in May of 2020
U.S. Field Production of Crude Oil (Thousand Barrels per Day)
a drop of almost 4 Million barrels a day
and as we can see in the chart it was in 2019 BEFORE Biden took office and we can also see production has been on a steady INCREASE since Biden took office NOT DECREASE.
U.S. Field Production of Crude Oil (Thousand Barrels per Day)
Have a nice day