Joe's Democrat administration has mishandled the American economy from day 1. They let woke policies and other countries guide decisions made here at home, and we are tired of it!
In the months leading up to the Covid-19 pandemic, U.S. oil production hit an all-time high of just below 13 million barrels per day as the uncalled for lockdowns happened, demand collapsed.
Demand has bounced back but oil production has only partially recovered. The most recent data available from the Energy Information Administration shows current U.S. oil production still 1.4 million barrels per day short of pre-pandemic production.
When the pandemic crushed oil demand in 2020, some oil companies went out of business. Some small wells were permanently capped and closed.
In a January 27 executive order, the Biden administration halted new oil and gas leasing on federal onshore lands and offshore waters “to the extent consistent with applicable law.”
With nearly 25 percent of U.S. oil and gas production coming from federal lands, the policy shift may have significant implications for future investment and production.
US firms have less incentive to produce more oil while facing heavier regulations – meaning they’re more likely to leave the oil in the ground and drill in the future. Under the “Green New Deal” regulatory environment, the atmosphere in Washington is decidedly anti-oil.
If Biden signaled full-steam ahead support for US drillers to get back to work — domestic and global oil prices would fall.
If we join together and make sure our friends and families are at the polls come November ready to vote for America First Policies we can make a difference.
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