And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration.
If anything, the outlook for US oil production has brightened recently – in large part because oil prices have rebounded from recession fears and drillers have become more efficient.
Climate vs. inflationWhen and if the oil production record falls, don’t expect any fireworks from the White House.
Last week, Saudi Arabia vowed to extend its oil production cut for at least another month.
It’s also true that domestic oil production -— unlike prices -— has been slow to recover from the Covid-19 crash.
Persons:
Joe Biden, Trump, It’s, Biden, ”, Hunter Kornfeind, it’s, Mike Pence, Joe Biden’s, Pence, Barack Obama, “, Matt Smith, ” Biden, That’s, Kornfeind
Organizations:
New York CNN Business, Rapidan Energy, drillers, US Energy Information Administration, Strategic Petroleum Reserve, EIA, Exxon, Rapidan Energy Group, American Petroleum Institute, Biden, CNN, “
Locations:
Saudi Arabia, Texas, Americas, Russia