CNN —Nearly four years ago, while campaigning in the runup to the last presidential election, Donald Trump warned that President Joe Biden would “destroy” the oil industry.
In the last three and a half years, US oil production — and oil and gas company profits — have broken records.
That’s a 160% jump compared to the first three years of the pro-big-oil Trump administration, according to calculations by CNN.
However, in March, the Biden administration approved ConocoPhillips’ massive Willow oil drilling project on Alaska’s North Slope, which holds around 600 million barrels of oil, angering climate advocates.
Despite his mixed record with oil and gas companies, though, Biden has presided over a historic run for the industry, Kloza said.
Persons:
Donald Trump, Joe Biden, Trump, Biden, That’s, —, Tom Kloza, ”, Hess, Chevron’s, Abdullah Hasan, Darren Woods, Mike Wirth, Woods, Obama, Bob McNally, Kloza, ” Kloza, “ It’s
Organizations:
CNN, Global, ExxonMobil, Chevron, ConocoPhillips, Resources, Schlumberger, Oil Price Information Service, US Energy Information Administration, Oil, Natural Resources, Exxon, White, Shareholders, Microsoft, Apple, The Washington Post, Keystone XL, Rapidan Energy Group, Republican
Locations:
United States, Ukraine, Boon, dealmaking, The