“O come, let us worship and bow down: let us kneel before the LORD our maker.” Psalms 95:6 (KJV)
esident Biden and senior officials in his administration have repeatedly said this year that the U.S. is near “record levels” of domestic oil and gas production. According to a new study, however, that’s not exactly the case.
The analysis by economists Stephen Moore and Casey Mulligan found that the Biden administration’s policies have caused the U.S. to produce significantly less oil and gas during Biden’s presidency than it would have during a second term for former President Trump — to the detriment of the national economy.
“The U.S. would be producing between 2 and 3 million more barrels of oil a day and between 20 and 25 more billion cubic feet of natural gas under the Trump policies,” states the report, which was published by the Committee to Unleash Prosperity. “This translates into an economic loss — or tax on the American economy — of roughly $100 billion a year.”