{"id":2070747,"date":"2023-10-17T17:50:03","date_gmt":"2023-10-17T21:50:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-oil-production-hitting-all-time-high-is-result-of-past-policies-experts-say\/"},"modified":"2023-10-17T17:55:13","modified_gmt":"2023-10-17T21:55:13","slug":"us-oil-production-hitting-all-time-high-is-result-of-past-policies-experts-say","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-oil-production-hitting-all-time-high-is-result-of-past-policies-experts-say\/","title":{"rendered":"Experts attribute the current record-breaking US oil production to past policies."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-oil-production-hitting-all-time-high-is-result-of-past-policies-experts-say%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2070747&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>Domestic oil production in the United \u2064States reached a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-explodes-to-record-breaking-high-in-richmond-fed-survey\/\" title=\"Inflation Explodes to Record-Breaking High in Richmond Fed Survey\">record-breaking high<\/a> of over 13 million barrels per day\u2063 this month,\u2064 marking a significant rebound from the early days\u200c of the COVID-19 pandemic, according\u200d to the U.S. Department of \u200bEnergy (DoE).<\/p>\n<p>But this surge \u200bin production is not \u2064solely\u200c due to recent policies; experts argue that\u200c it is a\u2063 result \u2064of past initiatives.<\/p>\n<p>In a recent update from the DoE&#8217;s Energy Information Administration,\u2062 officials reported that oil \u2062production in\u2062 the first week \u200cof October soared to 13.12 million barrels per\u200d day (bpd), surpassing the\u200d previous record set just before the pandemic. \u200cThis remarkable increase is a\u2062 testament to the resilience of the\u2064 industry.<\/p>\n<blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li><a href=\"http:\/\/www.theepochtimes.com\/us\/oil-soars-after-saudi-arabia-extends-crude-production-cut-to-december-5486435?ea_src=author_manual&#038;ea_med=related_stories\"><br \/>\n<h3 class=\"text-sm sm:text-base\">Oil Prices Soar After Saudi Arabia Extends Crude Production Cut to December<\/h3>\n<p><\/a><\/p>\n<p class=\"text-comp-caption text-[14px] leading-[18px]\">9\/5\/2023<\/p>\n<\/li>\n<li><a href=\"http:\/\/www.theepochtimes.com\/article\/more-investment-needed-in-oil-and-gas-production-or-well-live-shorter-more-miserable-lives-report-5481913?ea_src=author_manual&#038;ea_med=related_stories\"><br \/>\n<h3 class=\"text-sm sm:text-base\">More Investment \u200cNeeded In\u2064 Oil and Gas Production Or We&#8217;ll Live Shorter, \u200cMore Miserable Lives: Report<\/h3>\n<p><\/a><\/p>\n<p class=\"text-comp-caption text-[14px] leading-[18px]\">8\/28\/2023<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>The Energy Department projects that oil production will continue\u200b to rise in the coming years, with\u200c an\u200c estimated\u200b increase of 1.01 million \u2063bpd\u200d in 2023 and an additional\u2064 200,000 bpd in 2024.<\/p>\n<p>Republican lawmakers have been pressuring the Biden administration to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/second-republican-debate-haley-attacks-desantis-over-fracking-and-drilling-in-florida\/\" title=\"Haley criticizes DeSantis on fracking and drilling in Florida during GOP debate.\">prioritize domestic oil production<\/a>, especially in light of rising\u200d prices \u2064and concerns about energy security following Russia&#8217;s invasion of Ukraine.<\/p>\n<p>Since taking office, President \u2062Biden has made controversial decisions such as canceling the Keystone XL pipeline and imposing a moratorium on oil and gas leasing activities on U.S.\u200b lands \u2062and waters. These actions have drawn criticism from\u2063 Republicans.<\/p>\n<p>Furthermore, President Biden recently announced plans to sell only three offshore oil and gas leases over \u200bthe next five years, a stark contrast to the previous administration&#8217;s intentions to hold 47 leases \u200cduring the same period.<\/p>\n<div class=\"my-5\">\n<p>President Biden has been urging American\u2064 oil companies to increase their supply, but this \u2064approach has faced scrutiny. <\/p>\n<h2>Climate Change Groups Call Out &#8216;Hypocritical&#8217; Actions<\/h2>\n<p>Despite the record-breaking \u200dproduction figures, certain regions\u200d in the United States, such as the Permian Basin, have \u200dexperienced a surge in production,\u200d while others like Oklahoma and North Dakota have seen a significant decline.<\/p>\n<\/div>\n<p>While Republican lawmakers may celebrate the increase in oil production, it contradicts President Biden&#8217;s climate goals of achieving zero percent carbon emissions \u2064by 2050.<\/p>\n<p>Not everyone welcomed the latest data. Climate scientist Bill Hare, CEO of Climate Analytics, criticized the expansion of fossil fuel production, stating that it undermines global efforts to reduce emissions.<\/p>\n<p>Despite President Biden&#8217;s \u2064ambitious climate \u200dgoals, the Energy Department predicts that global carbon emissions will continue to rise until\u2062 2050.<\/p>\n<p>While climate change \u2062activists oppose the increase in domestic oil production, it is important to note that the recent surge is not\u200b solely attributable to President Biden&#8217;s actions.<\/p>\n<div class=\"post-figure\">\n<figure style=\"width:600px\" class=\"alignnone\"><figcaption>President Joe Biden during a press briefing at the White House in Washington, on April 26, 2023. (Madalina Vasiliu\/The Epoch Times)<\/figcaption><\/figure>\n<\/div>\n<div class=\"my-5\">\n<h2>&#8216;Wrong to Credit President Biden\u2063 for Oil, Natural \u200bGas Production&#8217;<\/h2>\n<p>Amanda Eversole, executive vice president and chief advocacy officer at the American Petroleum Institute (API), emphasized\u2063 that\u2063 the current energy supply is a result \u200bof previous policies and not solely due to \u200bthe Biden administration.<\/p>\n<p>Eversole explained \u2064that the process of turning oil and natural \u200dgas into everyday\u200b products takes time, and offshore leases can take up to 10 years from development to operation. Therefore, it is inaccurate to credit President Biden for \u200cproduction that began before his term.<\/p>\n<p>She warned that if oil and natural gas demand rises in the future and supply falls\u200c short, the Biden administration may face blame for the consequences.<\/p>\n<\/div>\n<p>However, not \u200ball the latest\u2062 Energy Department\u2062 data \u200bis\u200b positive. Gasoline stockpiles have decreased, and\u2064 the number of rigs in operation has dropped to\u200c its\u2063 lowest level since February 2022.<\/p>\n<p>These figures come shortly after Russia and Saudi Arabia agreed to extend their oil production cuts, which have contributed to the recent increase in energy\u200c prices.<\/p>\n<div class=\"my-5\">\n<em>Naveen Athrappully and Reuters contributed to this report.<\/em>\n<\/div>\n<\/div>\n<\/blockquote>\n<p> <\/p>\n<h2> What are the concerns raised by climate\u200d change advocacy groups\u200c regarding the \u200dsurge in oil production and its impact on greenhouse gas emissions?<\/h2>\n<p><span>  S, criticized the surge in \u200boil production, stating \u2064that it goes \u200bagainst efforts to \u200bcombat climate change. Hare expressed concern that \u200dincreased oil production \u2064will\u2062 lead to higher greenhouse gas emissions and further\u2063 contribute to global warming.<\/p>\n<p>Climate change \u2062advocacy groups have also called out \u2062President \u200cBiden&#8217;s &#8220;hypocritical&#8221; actions, stating \u200bthat \u2062his push\u2064 for increased oil production contradicts his pledges to address climate change\u200d and transition to clean energy sources.<\/p>\n<p>However, supporters of domestic oil production argue that \u2062it remains a crucial component\u2063 of \u2063the\u2063 U.S. economy and energy \u200csecurity. They contend that \u200da <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-oil-production-hitting-all-time-high-is-result-of-past-policies-experts-say\/\" title=\"Experts attribute the current record-breaking US oil production to past policies.\">strong domestic\u200c oil industry\u2064 reduces\u2063 dependence<\/a> on foreign oil and protects against supply disruptions.<\/p>\n<p>The recent surge in oil production \u2062can be attributed to past initiatives, such as technological advancements in oil extraction methods like hydraulic fracturing\u2062 or fracking. These technological developments have unlocked vast\u200d reserves of oil previously inaccessible, propelling the United States to become one\u200c of the world&#8217;s leading oil producers.<\/p>\n<p>Additionally, \u200bthe resilience of the oil industry during the COVID-19 pandemic \u2062should not be overlooked. Despite the significant decline in oil demand during lockdowns and travel restrictions, the industry has quickly rebounded\u200b to reach record-breaking production levels.<\/p>\n<p>Looking \u200bahead, the Energy Department&#8217;s projections indicate that \u200coil production in\u2062 the United States will continue to increase \u2064in the coming years. This growth is expected to contribute to job creation and economic growth.<\/p>\n<p>However, the conflict between domestic oil production and climate \u200bchange goals remains a contentious\u200d issue. Balancing the \u200cneed for economic prosperity \u200cand energy security with the urgency of transitioning to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/carbon-emissions-expected-to-increase-through-2050-eia-says\/\" title=\"EIA predicts rising carbon emissions till 2050.\">renewable energy sources poses<\/a> a challenge for policymakers.<\/p>\n<p>As the Biden\u200c administration continues to face pressure from all sides, finding a middle ground\u200d that addresses both economic and environmental concerns will be crucial. Striking a balance between supporting domestic oil production while implementing measures to mitigate climate change impacts\u2062 is essential\u200b for charting a sustainable and resilient path forward.<\/p>\n<p>In conclusion, the \u200crecent record-breaking\u200b surge \u200cin domestic oil production in the United States is a testament to past \u2063initiatives\u2062 and \u200cthe resilience of the industry. While\u2062 Republican lawmakers celebrate this milestone,\u2062 it raises concerns \u200damong climate\u200d change\u2064 advocates who argue that it contradicts efforts to combat global\u200d warming and transition to clean energy sources. The Biden administration faces the challenge of navigating \u2063this complex issue, balancing economic\u200b priorities with environmental goals. Finding a sustainable path forward that \u200btakes into account both energy security and climate \u2064change mitigation is crucial for the future of the United States \u2064and the planet.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Domestic oil production in the US reached a record-breaking 13 million barrels per day, the highest in over three years. The US Department of Energy reported this surge, which follows a significant drop during the initial COVID-19 outbreak. Nonetheless, experts attribute this increased production to various factors.<\/p>\n","protected":false},"author":69,"featured_media":2070748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2070747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2070747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2070747"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2070747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2070748"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2070747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2070747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2070747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}