Informative and impartial view on energy independence.
President Biden has passed policies that could negatively impact domestic oil supplies in the future. However, thus far the price surge is primarily a result of 3 million barrels per day (BPD) of oil production that was lost in the spring of 2020 that hasn’t fully recovered. Demand has fully recovered, so that is the fundamental reason for the surge in prices. Further, that surge began in the fall of 2020 — five months before President Trump left office.
But some people are looking for simple answers. Since Joe Biden is now president, and they recognize his hostility to the oil and gas industry, they reason that it’s a no-brainer that this is primarily Biden’s fault. And some of the angry feedback I get reflects that.
But some people are looking for simple answers. Since Joe Biden is now president, and they recognize his hostility to the oil and gas industry, they reason that it’s a no-brainer that this is primarily Biden’s fault. And some of the angry feedback I get reflects that.
The first thing I ask when someone poses this question is “How are you defining energy independence?” In reality, most people are using it incorrectly. A correct accounting would be to add up all of our energy production (oil, natural gas, coal, renewables) and then subtract our net energy consumption.
Most people view energy independence through the lens of our oil and gas production and consumption. These two sources represent 68% of U.S. energy consumption. When they see our net exports are positive, it is viewed as “energy independence.” When they turn negative, we are once again partially dependent. (In reality, we are always partially dependent, because even when our exports exceed our imports, we are still importing oil from other countries).
Link: https://www.forbes.com/sites/rrapier/2021/11/14/is-the-us-energy-independent/?sh=4bf4e71d1387
Replies to: Informative and impartial view on energy independence.
Spinning has jumped the shark… nobody is listening anymore
Everyone knows that Biden’s handlers declared war on fissile fuels the day he took office. It’s like the border and defunding the policy… everyone knows the truth.
Cold, hard facts are difficult to read I get it.
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Go to the pump and the grocery store… there are your cold hard facts.
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Whose facts? WMD’s in Iraq were facts. Right? Colin Powell thought so. Did you?
Why do guys like you think these government officials know anything. How did they do in Afghanistan? Why do you believe so called energy experts?
Don’t you get it? Everyone has an agenda. You can decide to believe what they report but it doesn’t make them facts.
Do you get that?
Well, I can tell you I didn’t think he was telling the truth.
I was ashamed for him then and after. It was more than obvious Iraq had nothing to do with 9/11 nor we’re they harboring WMD’s. The information was there in front of us, all we needed to do was look at. As a nation, we didn’t.
We have become so inured with lying presidents, like Bush after 9/11 or at least one particular unconscionable lying SOB (big generalization here) we think all presidents lie every time they open their mouths. It’s not necessarily true. Presidents misspeak, get facts askew but they generally don’t lie. Nixon W. Bush and definitely DJT lied to America much of the time.
Throw LBJ and Clinton in with group. Right? Vietnam and Monica.
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Oh please. Are you in the oil business? If not stop posting BS from so called experts. You know
nothing except what you read and believe. Like Ty.
What part is BS?
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