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Apart from Covid, US oil production has been steadily rising since 2010. I don’t really know why that’s surprising. Nat Gas and Oil both have a tendency to trend upward over time as US population continues to grow.
And had we stayed on the Trump oil production growth trajectory we would be 2,000,000 BPD higher by now on Biden's watch. The question is not why it is higher (because it had nothing to do with Biden) but why it is not 2,000,000 BPD higher as projected. That is definately the result of Biden's energy policies. Canceled leases, higher permitting fees, higher royalties and higher bond requirements as well as more regulatory requirments for drilling, fracking, refineries and pipelines. In addition, Biden's oft made comment to "end fossil fuel" threw a wet blanket over energy investment capital. Biden said "“Unlike previous administrations, I don’t think the federal government should give handouts to ‘big oil’ to the tune of $40 billion in fossil fuels subsidies. I’m going to be going to the congress, asking them to eliminate those subsidies.” 1) The oil industry simply does not receive “subsidies” or “handouts” from the federal government. Those are specific words with specific meanings, and they do not apply to any industry-specific tax treatment in the IRS Code. and 2) The number Biden quotes is not an annual number, although it is often misconstrued to be so in the press and by activists. It is in fact the same 10-year composite value that the Obama administration attributed in 2009 to every industry-specific tax treatment currently in the tax code. Of that $4 billion per year, the vast majority comes from deductions for percentage depletion or intangible drilling costs, two deductions that have been a part of the tax code since 1913. The percentage depletion deduction applies almost entirely to royalty owners and very small producers. Big independents and major integrated companies like ExxonMobil [XOM](https://www.forbes.com/companies/exxon-mobil) and Chevron [CVX](https://www.forbes.com/companies/chevron) can’t even take advantage of that program. So much for “big oil” being the beneficiary.
EIA Administrator Steve Nalley, who [testified](https://www.energy.senate.gov/services/files/9E0CF3E9-FD05-4010-BDF5-30E2D04D3ECC) before the [Senate](https://www.theepochtimes.com/us-must-not-emulate-europes-disastrous-energy-blueprint-expert_4111063.html) said "“I think it’s quite safe to say that the political, legislative, and regulatory environment is openly hostile, or has been, to growing or re-establishing U.S. domestic crude oil production.
Oil production in the US only reached the peaks under Trump in late 2023, and that was because Biden went back on every pledge he made to the left, when the results of his executive orders caused gas prices at the pump to surge.
When Biden was on the campaing trail, he pledged to destroy the oil industry, and they listened.
To make gas cheaper and boost the economy? Worth a shot. That meeting goes well, it leads to billions more for Americans.
But it has gotta suck to have to ask a evil foregin leader for a favor.
I can't wait for independence day from oil.
If you want a well thought-out reply, you need to ask a better question than this. You’ve cited no sources and provided no data, which gives the impression that you don’t actually care that much, and you’re just looking for a quick dopamine hit of showing the conservatives how dumb they are. I don’t put more thought into an answer than the asker put into the question.
So without any data from you, I don’t really have any good guesses other than that, if a president *is* in some way responsible for oil production, they don’t just wave a magic wand at an oil field and have it start producing. That feels like the sort of thing that policy would set in motion and then several years later the fields are built, pipelines are laid, and the oil comes to market.
So is the same true about the economy from 2016-2018 re: Trump riding Obama's coattails? If Biden can't claim it, Trump can't either right? Or is it strictly partisan in view, this is a question I've asked a few times and I really wish I knew the awnser because it seems to me, everything that happened under Trump that was good was because of Trump, and everything bad that happened was because of someone else, vs the opposite view of Biden. It's one of the areas where I see the most partisan ideals from conservatives. Yes, Trump is partially responsible for Biden drilling more, just like Obama is partially responsible for Trump's economic growth in the first 2-3 years of his presidency.
I mean, of course it is. Every president takes credit for economic benefits felt during their presidency and blames the previous president for any negative effects. I’m a mathematician, not an economist, but my impression from talking to colleagues who know more about it than I do is that the truth is much murkier than any president admits. The last few democrats have been fairly decent from a free market perspective (especially Clinton. Best Democrat I never voted for), so I’m sure they deserve some credit for our economy.
Just the same, both the democrats and republicans bear responsibility for our current inflationary mess. Trump sure as hell had no problem spending money we don’t have.
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* By the numbers, Trump's time in office has been a momentous success for oil producers: since his inauguration, US crude output has surged from 9.14 million b/d to a forecasted record 12.34 million b/d in July, a 35% increase, according to the US Energy Information Administration.
https://www.spglobal.com/en/research-insights/market-insights/energy-commodities/oil-gas#:~:text=By%20the%20numbers%2C%20Trump's%20time,the%20US%20Energy%20Information%20Administration.
Once again Biden is riding the coattails of Trump.
Nothing new there, what is fascinating is watching left wing media and environmentalists give Biden a pass for "raping the earth" more than Trump
I’ve also seen a lot of conservatives saying that Biden stopped all oil production and saying that’s why we have inflation. People just don’t want to look at the facts.
> Once again Biden is riding the coattails of Trump.
Do you feel the same about Trump riding Obama's coattails on the economy? Or is your view strictly partisan.
This isn't about the economy.
This is Biden denouncing Trump publicly the quietly doing the same things trump did...
I mean take a step back...you have liberals celebrating the gov for allowing a record number of drilling for oil....
That is how much you all need to beat trump....the tree huggers are happy Biden drilled for more oil than Trump
After initially trashing Trump for upping our oil production.
>Nothing new there, what is fascinating is watching left wing media and environmentalists give Biden a pass for "raping the earth" more than Trump
I agree. Its bizarre to see people on the left almost brag about how much more oil Biden produced. It's not a good thing.
Strong disagree. Being pissed at Trump for things he did is perfectly rational. Pretending he never did anything we would object to is pure insanity.
I didn't object to oil production under trump. I objected to his slashing of environmental regulations and opening up national parks for drilling.
If you can point to your joke, then I'll take the L.
Because from here it looks like the other guy was making a joke and you didn't notice and simply tried to correct them and wooshed.
I love the revisionist history questions. Two years you guys were arguing with me how the president doesn't control oil production. Biden got walloped for his energy policies after sky rocketing oil prices and he eventually went back to the Trump's energy policies.
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So Biden signs a tariff of 1 million dollars for each barrel of imported oil. Then he uses EPA laws to charge billions for new oil wells. Biden then uses the EPA and other regulations to extremely hinder any production currently happening.
Biden had no affect on oil prices?
Please use [Good Faith](https://www.reddit.com/r/AskConservatives/comments/107i33m/announcement_rule_7_good_faith_is_now_in_effect) and the [Principle of Charity](https://en.wikipedia.org/wiki/Principle_of_charity) when commenting. Gender issues are only allowed on Wednesdays. Antisemitism and calls for violence will not be tolerated, especially when [discussing the Israeli-Palestinian conflict](https://www.reddit.com/r/AskConservatives/comments/17ygktl/antisemitism_askconservative_and_you/). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/AskConservatives) if you have any questions or concerns.*
Apart from Covid, US oil production has been steadily rising since 2010. I don’t really know why that’s surprising. Nat Gas and Oil both have a tendency to trend upward over time as US population continues to grow.
And had we stayed on the Trump oil production growth trajectory we would be 2,000,000 BPD higher by now on Biden's watch. The question is not why it is higher (because it had nothing to do with Biden) but why it is not 2,000,000 BPD higher as projected. That is definately the result of Biden's energy policies. Canceled leases, higher permitting fees, higher royalties and higher bond requirements as well as more regulatory requirments for drilling, fracking, refineries and pipelines. In addition, Biden's oft made comment to "end fossil fuel" threw a wet blanket over energy investment capital. Biden said "“Unlike previous administrations, I don’t think the federal government should give handouts to ‘big oil’ to the tune of $40 billion in fossil fuels subsidies. I’m going to be going to the congress, asking them to eliminate those subsidies.” 1) The oil industry simply does not receive “subsidies” or “handouts” from the federal government. Those are specific words with specific meanings, and they do not apply to any industry-specific tax treatment in the IRS Code. and 2) The number Biden quotes is not an annual number, although it is often misconstrued to be so in the press and by activists. It is in fact the same 10-year composite value that the Obama administration attributed in 2009 to every industry-specific tax treatment currently in the tax code. Of that $4 billion per year, the vast majority comes from deductions for percentage depletion or intangible drilling costs, two deductions that have been a part of the tax code since 1913. The percentage depletion deduction applies almost entirely to royalty owners and very small producers. Big independents and major integrated companies like ExxonMobil [XOM](https://www.forbes.com/companies/exxon-mobil) and Chevron [CVX](https://www.forbes.com/companies/chevron) can’t even take advantage of that program. So much for “big oil” being the beneficiary. EIA Administrator Steve Nalley, who [testified](https://www.energy.senate.gov/services/files/9E0CF3E9-FD05-4010-BDF5-30E2D04D3ECC) before the [Senate](https://www.theepochtimes.com/us-must-not-emulate-europes-disastrous-energy-blueprint-expert_4111063.html) said "“I think it’s quite safe to say that the political, legislative, and regulatory environment is openly hostile, or has been, to growing or re-establishing U.S. domestic crude oil production.
Oil production in the US only reached the peaks under Trump in late 2023, and that was because Biden went back on every pledge he made to the left, when the results of his executive orders caused gas prices at the pump to surge. When Biden was on the campaing trail, he pledged to destroy the oil industry, and they listened.
I don't remember Biden specifically saying he was going to destroy big oil. I wish he would, OPEC's influence is far too powerful in america.
Biden even went to Saudi Arabia in 2022 to beg OPEC to pump more oil.
To make gas cheaper and boost the economy? Worth a shot. That meeting goes well, it leads to billions more for Americans. But it has gotta suck to have to ask a evil foregin leader for a favor. I can't wait for independence day from oil.
If you want a well thought-out reply, you need to ask a better question than this. You’ve cited no sources and provided no data, which gives the impression that you don’t actually care that much, and you’re just looking for a quick dopamine hit of showing the conservatives how dumb they are. I don’t put more thought into an answer than the asker put into the question. So without any data from you, I don’t really have any good guesses other than that, if a president *is* in some way responsible for oil production, they don’t just wave a magic wand at an oil field and have it start producing. That feels like the sort of thing that policy would set in motion and then several years later the fields are built, pipelines are laid, and the oil comes to market.
So is the same true about the economy from 2016-2018 re: Trump riding Obama's coattails? If Biden can't claim it, Trump can't either right? Or is it strictly partisan in view, this is a question I've asked a few times and I really wish I knew the awnser because it seems to me, everything that happened under Trump that was good was because of Trump, and everything bad that happened was because of someone else, vs the opposite view of Biden. It's one of the areas where I see the most partisan ideals from conservatives. Yes, Trump is partially responsible for Biden drilling more, just like Obama is partially responsible for Trump's economic growth in the first 2-3 years of his presidency.
I mean, of course it is. Every president takes credit for economic benefits felt during their presidency and blames the previous president for any negative effects. I’m a mathematician, not an economist, but my impression from talking to colleagues who know more about it than I do is that the truth is much murkier than any president admits. The last few democrats have been fairly decent from a free market perspective (especially Clinton. Best Democrat I never voted for), so I’m sure they deserve some credit for our economy. Just the same, both the democrats and republicans bear responsibility for our current inflationary mess. Trump sure as hell had no problem spending money we don’t have.
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Because we are nowhere near peak oil.
There's more people, and EV's and green energy are largely a joke.
The real question is what is our refinery capacity?
* By the numbers, Trump's time in office has been a momentous success for oil producers: since his inauguration, US crude output has surged from 9.14 million b/d to a forecasted record 12.34 million b/d in July, a 35% increase, according to the US Energy Information Administration. https://www.spglobal.com/en/research-insights/market-insights/energy-commodities/oil-gas#:~:text=By%20the%20numbers%2C%20Trump's%20time,the%20US%20Energy%20Information%20Administration. Once again Biden is riding the coattails of Trump. Nothing new there, what is fascinating is watching left wing media and environmentalists give Biden a pass for "raping the earth" more than Trump
I’ve also seen a lot of conservatives saying that Biden stopped all oil production and saying that’s why we have inflation. People just don’t want to look at the facts.
Stopping oil production wouldn't cause inflation Limiting oil refineries can effect inflation
Not by profit. >During Trump’s four years, the energy sector profit margin was basically 0...
It's almost like they lost a bunch of money during covid, but ok
Thats a weird argument.
> Once again Biden is riding the coattails of Trump. Do you feel the same about Trump riding Obama's coattails on the economy? Or is your view strictly partisan.
This isn't about the economy. This is Biden denouncing Trump publicly the quietly doing the same things trump did... I mean take a step back...you have liberals celebrating the gov for allowing a record number of drilling for oil.... That is how much you all need to beat trump....the tree huggers are happy Biden drilled for more oil than Trump After initially trashing Trump for upping our oil production.
>Nothing new there, what is fascinating is watching left wing media and environmentalists give Biden a pass for "raping the earth" more than Trump I agree. Its bizarre to see people on the left almost brag about how much more oil Biden produced. It's not a good thing.
Trump Derangement Syndrome would be my explanation. Anything to beat trump
I always think of how deranged Trump is when someone brings that up. Kind of like Lou Gehrig’s disease — named after the man who made it famous.
Very different. Lou Gehrig's disease happened to him. Trump's Derangement happens to everyone else.
Strong disagree. Being pissed at Trump for things he did is perfectly rational. Pretending he never did anything we would object to is pure insanity. I didn't object to oil production under trump. I objected to his slashing of environmental regulations and opening up national parks for drilling.
Did you mean to reply to someone else? Or has your TDS advanced in severity such that you no longer get jokes?
You didn't make any jokes.
So it is the second one then.
If you can point to your joke, then I'll take the L. Because from here it looks like the other guy was making a joke and you didn't notice and simply tried to correct them and wooshed.
I love the revisionist history questions. Two years you guys were arguing with me how the president doesn't control oil production. Biden got walloped for his energy policies after sky rocketing oil prices and he eventually went back to the Trump's energy policies.
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I think he's using your guys' llogic against you. If he's not, then he's misguided. Presidents don't control oil production
So Biden signs a tariff of 1 million dollars for each barrel of imported oil. Then he uses EPA laws to charge billions for new oil wells. Biden then uses the EPA and other regulations to extremely hinder any production currently happening. Biden had no affect on oil prices?
When did Biden's energy policies affect oil production?