Energy Experts Say Trump ‘Absolutely Deserves Credit’ For US Producing More Oil Than ‘Any Nation On Earth’
Energy policy experts are touting the success of President Donald Trump’s American energy dominance goals as data from the Energy Information Administration shows that oil production hit a record high in the U.S. in…
Energy policy experts are touting the success of President Donald Trump’s American Energy dominance goals as data from the Energy Information Administration shows that oil production hit a record high in the U.S. in June.
The U.S. produced more oil than it ever has — and more than any nation ever has — in June, which some Energy sector experts told the Daily Caller News Foundation is a testament to the resilience of the American oil industry and the importance of Trump’s pro-growth Energy agenda.
“We should celebrate the ‘drill baby drill’ mantra because the record production we’re seeing now is a huge help to consumers,” Travis Fisher, director of Energy and environmental policy studies at the Cato Institute, told the DCNF. “In addition to obvious benefits like lower-cost gasoline for drivers, abundant oil production lowers the cost of everything by reducing transportation costs for virtually every product on the market.”
American oil production has been on the rise, but several Energy experts noted that the thriving and record-setting supply of oil demonstrates the importance of Trump’s American Energy dominance agenda. National security and economic flourishing stem from Energy security, Energy policy experts told the DNCF.
“The U.S. is producing 13.6 million barrels per day, more than any nation on earth, ever. The importance of this production to the economy as well as Energy security and national security is profound,” Trisha Curtis, a macroeconomist with expertise in U.S. shale markets and an economist for the American Energy Institute, told the DCNF. “The U.S. is now not only the largest oil and natural gas producer in the world, but it is the largest crude and product exporter in the world, enabling greater U.S. and global Energy security. The next two largest producers in the world, Russia and Saudi Arabia, are both producing around 10 million barrels per day by comparison.”
A common mantra among Energy cabinet members within the Trump administration, “Energy security is national security,” demonstrates how Trump views the Energy sector as inseparable from national defense. Trump signed a day-one executive order to “unleash” American Energy and declared a national Energy
The oil industry is breaking new records even after Biden’s crackdown on the Energy resource, as the former administration obstructed oil drilling activity over a huge swath of U.S. waters, blocked the massive Keystone XL pipeline through a day-one executive order and unleashed a myriad of other hurdles for the sector to the praise of environmentalist groups. Trump campaigned against former President Joe Biden’s Energy policies he termed the “green new scam” and has worked to boost
“America runs on oil and gas, and we are producing a lot more of it and hitting record-high production because President Trump has fully unleashed American Energy and rolled back Biden’s burdensome regulations that were killing the industry,” Taylor Rogers, White House spokesperson, told the DCNF. “By taking advantage of the liquid gold under our feet, President Trump is lowering Energy prices for families and making America affordable again.”
Notably, the Japanese company Hitachi announced Thursday that it plans to invest $1 billion to stabilize the American power grid as Trump has pushed to ramp up electricity supply as demand surges after remaining static for decades.
“President Trump’s economic policies are generally pro-growth. An important part of a pro-growth economic policy is a pro supply Energy policy, and absolutely deserves credit for bringing those together,” Jack Spencer, senior research fellow for the Energy and Environmental Policy, Center for Energy, Climate, and Environment at the Heritage Foundation, told the DCNF. “Good economic policy allows for economic growth, which drives gas and oil development, and Energy development generally.”
David Blackmon, an Energy and policy writer who spent 40 years in the oil and gas business, told the DCNF that “this all-time record high for U.S. crude production in June illustrates again the resilience of the U.S. oil industry.”
Blackmon argued that Trump’s “drill, baby, drill” promise has become a “produce, baby, produce” phenomenon as that the industry has been drilling fewer wells, and that some unease swirls in the industry during a time of “comparatively low commodity price, a declining rig count, and talk about pending layoffs.” Some major oil and gas companies are discussing cutting their workforce, with Energy giant ConocoPhillips reportedly moving to slash 20-25% of its staff, according to multiplereports. Despite these factors, Blackmon noted that “the fact that producers still manage to raise overall production is a bit amazing.”
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.