193 sats \ 7 replies \ @Undisciplined 17 May \ on: USA achieves energy self-sufficiency econ
This is done in spite of, not because of, federal policy.
In the US, the federal government has limited authority to reduce energy extraction on state or private land. They do heavily restrict drilling and mining on the federal lands that they control.
It occurs to me, though, that a lot of that might actually be due to Biden selling off the oil in the strategic petroleum reserve. US law requires that to be replaced, but he's ignoring that, since it would cause gas prices to spike during his re-election campaign.
Biden cancelled Keystone XL as soon as he got into office
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He also made oil leases harder to get on Federal lands, including in the ocean.
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How is oil production up?
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The chart isn’t oil production. It’s trade balance. When they emptied the Strategic Petroleum Reserve, that increased domestic supply.
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Thanks
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I think that's mostly related to my first point. Most production occurs on land that the Feds have limited jurisdiction over, so when prices rise they can increase production.
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