https://time.com/5777914/fact-check-state-of-the-union-2020/
During his speech, President Trump credited his administration’s
“bold regulatory reduction campaign” with turning the United States into
“the number one producer of oil and natural gas in the world, by far.”
But it isn’t clear that Trump can claim sole credit for increasing the country’s energy output.
Much of the United States’ recent increase in energy production is due to technological innovation, according to the U.S. Energy Information Administration.
Higher-producing horizontal wells are becoming more common, for
instance. While the number of natural gas- and oil-producing wells
declined from 1,035,000 in 2014 to 982,000 in 2018, oil and gas
production continued to increase.
Moreover, Trump’s policies have been a “mixed bag”
for the industry, Kyle Isakower, vice president for regulatory and
economic policy at the American Petroleum Institute, told NPR in August. He noted that Trump’s steel tariffs have driven up costs, for instance.
There will never be an economic assessment that shows only positive things. This obsession with the details that disprove Trump is tiresome.
ReplyDeleteOverall the US shows excellent economic growth. It has historically low unemployment. More people are emerging from poverty and joining the middle class than ever before. It is these macro results that people care about.
States like NY and PA have a new technology that their governors are doing all they can to prevent its being used. Surprisingly, will make upstate NYS a MAJOR oil producer.
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