What a difference a president makes
By Steve Moore
WASHINGTON, D.C. (Texas Insider Report) — In just six months, Donald Trump has brought America’s oil and gas production to its highest levels ever, not driven by high prices, but by pro-production policies. Under Joe Biden, Crude Oil was over $100 in 2022, and generally ranged between $70 and $85 for the rest of Biden's term.
Now, the price is closer to $60 a barrel – and yet domestic production is at an all-time high.
"Drill baby drill"... is working! Under Biden, US oil and gas production were driven not by pro-energy policies, but by high and increasing crude prices. And, the price per barrel would have pushed production much higher had it not been for Biden's anti-fossil fuels climate policies.
The Energy Information Administration reports forecasts that gas prices at the pump will keep falling – to below $3 a gallon nationally by next year.
The big story here, of course, is fracking and horizontal drilling – which has roughly tripled American production in the last 15 years or so.
The big story here, of course, is fracking and horizontal drilling – which has roughly tripled American production in the last 15 years or so.
What a difference a president makes. Biden’s first executive order was to cancel the Keystone XL pipeline to slow oil and gas delivery across the country.
The first day executive order from Trump made oil and gas production a aNtional Security and Economic Priority.
Steve Moore – a former Wall Street Journal Editorial Page writer, Chief Economist for The Texas Insider, and a former Senior Economic Adviser to Donald Trump – is a Senior Fellow at both FreedomWorks and the Heritage Foundation. Along with Steve Forbes & Art Laffer, he is Co-Founder of the Committee to Unleash Prosperity. Using compelling charts, videos, and maybe even a little humor, Moore and the Committee's free Daily Newsletter provides information not readily available anywhere else – short and timely inside updates on the economy, the D.C. political landscape, and numerous other issues that help you stay informed and allow you to be the smartest person in the room.
