▪️There is some truth to this meme, but it takes the numbers and trends out of context. According to the EIA, U.S. domestic oil production is expected to avg 12.76M barrels/day (bpd) by the end of the year, although those are projections, not actual numbers.
https://www.reuters.com/business/energy/us-crude-output-rise-record-1276-mln-bpd-2023-eia-2023-08-08/
▪️But under Trump oil production was already over 13M bpd by 2020. In Feb ‘20 it was at 13.1M and on track to avg well over 13M that year. Production then plunged during the pandemic & the yearly avg never got there. So basically oil production has returned to late 2019 levels and will probably reach early 2020 levels by next year.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
▪️Keep in mind, when Trump came into office in 2017 oil production was at just 8.9M bpd, so it saw a dramatic nearly 50% rise to reach 13M in just a few years. The current levels are just returning to pre-pandemic levels with small growth projected in the future.
▪️Meanwhile, domestic oil consumption is forecast to rise to 20.5 bpd by 2024, meaning there’s still room for rapid growth just to meet US needs, let alone the rest of the world. We need more than another 50% growth just to keep up with growing demand,
▪️With $80+ oil (compared to $50-60 under Trump) a president would really have to clamp down to keep companies from taking advantage of the 60% price increase. It would take draconian restrictions to keep companies from producing more oil at these prices.
▪️Which, thankfully they haven’t done yet. So despite Biden’s stated promise to “end fossil fuels” in 2019, he hasn’t, likely for pragmatic reasons. The meme is correct in pointing out what few people know (oil production could soon reach record levels) but ignores that the administration’s rhetoric is also openly hostile to domestic oil production.
Just incredible. After posting a meme blaming Charlie Kirk for his own murder, they post another a few hours later applauding Democrats for their civility.
Also, if you look at the Occupy Democrats timeline, their posts “denouncing political violence” were variations on “no one should be shot…BUT here’s a quote from Kirk showing he’s a terrible person.” Or sometimes they’d leave the first part out altogether and just attack him. There are no posts denouncing violence without qualifiers trying to gin up their base.
It’s really incredible they’re trying this approach after 4 years of posting “Ridin’ with Biden” memes.
It’s funny to see the left use the same conspiratorial rhetoric as the right did a year ago regarding the jobs numbers being downwardly revised. So many on the right, who knew nothing of how the jobs numbers are calculated or why they revise them, were convinced the downward revisions were a conspiracy to help Biden win.
If people want to have a debate about the birth death model or the survey methods, ok, but that’s not what’s happening here. Most people are under the delusion that the BLS report is the govt reporting every job created and lost, and are thus easily swayed it’s rigged when it suits their political ends.
