The Reality of Joe Biden's Stance on the U.S. Oil Industry
In recent years, there has been a significant debate regarding the future of the oil industry in the United States, with many questioning whether President Joe Biden is serious about ending it. Some have claimed that he is a great supporter of the oil industry due to the increase in drilling permits and the doubling of producing oil wells since he took office. However, the reality is that far from ending the oil industry, President Biden is actively promoting its growth and supporting its expansion.
Myths and Realities
The myth that President Biden is aiming to end the oil industry seems to stem from misleading information and preconceived notions. It’s crucial to distinguish between reality and fiction. The truth is that President Biden is neither shutting down nor intending to end the oil industry. In fact, he is doing everything within his power to ensure its continued success and growth.
Biden’s Strategy to Support the Oil Industry
President Biden has taken several steps to support the oil industry, including issuing more drilling permits than his predecessor, Donald Trump. According to statistical data, the number of producing oil wells under Biden has doubled since taking office. Furthermore, his administration approved a staggering 3557 permits for oil and gas drilling on public lands in its first year, which significantly outpaces the 2658 approved by the Trump administration.
Continued Growth of U.S. Oil Production
Despite the myths surrounding his intentions, the U.S. oil industry is thriving under President Biden's leadership. In 2021, U.S. companies produced 11.2 million barrels per day, just shy of the 11.3 million barrels produced under Trump in 2020. Production is expected to rise in the coming years, reaching 11.9 million barrels per day in 2022 and further increasing to 12.9 million barrels per day in 2023. This surpasses the highest production level under Trump in 2019, which was 12.2 million barrels per day.
Regional Growth and Expansion
President Biden’s drilling permit initiatives are not concentrated in just one area but are being implemented across the United States. In New Mexico, nearly 2000 drilling permits were approved by the Bureau of Land Management, followed by 843 in Wyoming, 285 in Montana, and 191 in Utah. Even in California, the Biden administration approved 187 permits, which is more than double the 71 permits approved under Trump in his first year.
Conclusion
The notion that President Biden aims to end the oil industry is a misconception. In reality, his administration is actively promoting and supporting its growth. The stats are clear: U.S. oil production is not only continuing but is set to reach record levels under President Biden.
Data and Sources
The information provided in this article is based on official U.S. government reports and publicly available data. For a comprehensive understanding, readers are encouraged to review the original sources and reports.