Biden’s Anti-Drilling Policies Have Cut Oil Supplies as Much as the OPEC+ Decision, Study Reveals

Biden’s Anti-Drilling Policies Have Cut Oil Supplies as Much as the OPEC+ Decision, Study Reveals
President Joe Biden delivers remarks on the economy after touring the Volvo Group Powertrain facility in Hagerstown, Md., on Oct. 7, 2022. Mandel Ngan/AFP via Getty Images
Naveen Athrappully
Updated:
0:00

President Joe Biden’s anti-drilling policies have cost the United States about the same rate of daily oil production that was recently slashed off world markets by members of the Organization of the Petroleum Exporting Countries (OPEC).

“The United States 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,” said a recent study (pdf) by the organization Committee to Unleash Prosperity. “This translates into an economic loss—or tax on the American economy—of roughly $100 billion a year.”
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
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