-
US oil and gas production is having a record year.
-
The numbers contradict the GOP narrative of Biden waging a war on American energy.
-
But they also fuel critics who say Biden is falling short of his promises on climate change.
President Joe Biden has pledged to combat climate change, drawing the ire of conservatives who have accused him of waging war on American energy — and yet the industry is on track to extract more oil and gas than ever before.
US oil production reached an all-time high of 13.2 million barrels a day last month and has remained that high since. The country is on pace to produce more oil in 2023 than any other year. US natural gas production is also set a record-high this year, and show no indications of slowing.
The numbers poke a hole in arguments made by Republicans who claim Biden administration policies have thwarted US energy production. In fact, in Biden’s first 21 months in office his administration approved 74% more new oil and gas wells than former President Donald Trump did during the same timeframe, according to federal energy data compiled by Politico. The US also produced more crude oil in that period of time under Biden than under Trump.
Despite GOP cries to the contrary, Reed Olmstead, executive director at the market analyst firm S&P Global Commodity Insights, told Politico last year: “At present, no specific US policy is meaningfully hindering US production.”
But the record-highs in US energy production aren’t all good news for Biden, as critics on the left say they show the president has not done enough to make good on his promise to jumpstart the green-energy transition.
“Continuing to expand oil and gas production is hypocritical and not at all consistent with the global call to phase down fossil fuels,” Bill Hare, climate scientist and CEO of Climate Analytics, told The Associated Press last month. “The US support for expanded fossil fuel production will undermine global efforts to reduce emissions.”
Notably, Biden succeeded in working with Congress to pass the Inflation Reduction Act of 2022, which set aside $370 billion in spending and tax credits for the green energy transition and was the largest investment the US has ever made to combat climate change.
Still, Hare said: “It’s clear that the Biden administration is not running a war against fossil fuels, or if it is, it’s a very unsuccessful war.”
Read the original article on Business Insider
Amanda Smith is a dedicated U.S. correspondent with a passion for uncovering the stories that shape the nation. With a background in political science, she provides in-depth analysis and insightful commentary on domestic affairs, ensuring readers are well-informed about the latest developments across the United States.
