Bungling Biden Says Oil Production Is At Historic Levels
Domestic crude oil production has sharply decreased for three consecutive months even as demand and prices have remained elevated, according to federal data released Friday.
Total U.S. oil production decreased to about 11.3 million barrels per day in February, down 3.9% from the 11.8 million barrels per day produced in November, the latest Energy Information Administration (EIA) data showed.
Between Nov. 1-Feb. 28, though, pump prices increased 6.4% from $3.39 per gallon to $3.61 a gallon.
Between November 2020-February 2021, the period when Joe Biden replaced President Donald Trump, production dropped a whopping 12.1%.
Meanwhile, administration officials have suggested that producers are drilling at a “historic” rate and don’t need further leases.
“Production is essentially higher than it’s been in a couple decades,” Interior Secretary Deb Haaland said during a congressional hearing Thursday. “On the federal lands, we’re doing what we need to do and we’re following the law and making sure that we are moving those issues forward.”
The steep decline in production in early 2021 reflected the chilling effect of bungling Biden’s policies. Since then, the illegitimate regime has repeatedly pushed an agenda hostile to the fossil fuel industry and investors.
Shortly after taking office, Biden signed an executive order pausing all oil and gas leasing on federal lands and nixed the Keystone XL pipeline permit, saying the U.S. must “prioritize the development of a clean energy economy.” Since then, the administration hasn’t held a single onshore oil and gas lease sale, even after a federal judge struck down the moratorium.
Much of the oil production declines between November-February were due to lower offshore output levels, according to the EIA. Crude oil production in the Gulf of Mexico dropped 9.8% in that period.
In addition, the unelected regime chose not to appeal a ruling canceling a November oil and gas lease sale in the Gulf of Mexico. It has also dragged its feet formulating a five-year offshore leasing plan to replace the current one that expires in June.
https://www.tampafp.com/biden-admin-says-oil-production-is-at-historic-levels-but-theres-one-problem/