I can't find a definitive answer to this question...

[Septua]

Has Biden done anything that reduced the oil production capabilities of the US from what it was a year ago? Stopping action on the Keystone pipeline didn't. I read somewhere that he had issued or approved more permits to drill on government property than Trump.

I understand he's doing stuff the would affect future production but I don't think we all of a sudden lost whatever self-dependence we had. The drillers and refineries cut back and haven't fully returned to production capacity.

There was a day in April 2020 when WTI crude prices dropped to a negative value...I suspect all the oil people are just taking advantage of the situation to recover their losses.

Long rant...anybody know the straight facts?

[bucolic_frolic]

1. All of what you say jives with my understanding of what I've read

[Scrivener7]

2. DU to the rescue:

https://www.democraticunderground.com/100216441509

In fact, there are 248 more active oil and gas rigs in the US today than when Biden took office, a 62% increase. 4/

[relayerbob]

3. I don't believe so

[walkingman]

4. I am convinced that the collusion between the oil producers of the world to

limit supply has been going on for decades. They use the futures market to raise prices every rumor or hint of disruption - it is wrong but nobody can stop it because oil is the most valuable commodity on the planet and the GDP of so many nations worldwide is dependent on it.

IMO, with the price of oil once again exceeding $100 it is a clear signal to move more rapidly to a more cost effective and geopolitically stable means of powering transportation. We will always need oil but the less the better. Places like Texas (my home) will fight it legally and illegally simply because about 40+% of our state revenue is from the fossil fuel industry.

Time for change. Long overdue. We have a 21st century solution, time to use it.

[Lars39]

5. The military uses a lot of oil...

withdrawing from Afghanistan helped reduce our needs.