Among the many promises during the campaign for President Trump was unleashing American energy dominance. It has been a priority from day one of the administration to target expansion of the oil and gas industry, as well as other forms of reliable energy. That includes increasing production, while phasing out less reliable forms of energy, like wind and solar. Now, just eight months into his second term, Trump's goal for American energy is already seeing dividends.
U.S. crude oil production is reaching new all-time highs under President Trump, as 13.5 million barrels per day were produced in June. It is a clear sign of a revival of American energy, and the oil industry.
Tim Stewart of the U.S. Oil and Gas Association says the numbers do not lie, and it has led to a resurgence here on American shores.
"We have successfully re-shored virtually all of our domestic oil and gas production...20 years ago, we were talking about importing natural gas...now we are talking about being the biggest natural gas exporter in the world," he says.
The 13.5 million barrels a day is a large jump from May, with much of the surge coming from Texas, New Mexico, and offshore sites in the Gulf.
It is not just the production that has seen the uptick though. Another variable that cannot be measured, confidence, has also risen. Trump's resurging of American energy is bringing back hope and faith in the industry, which had evaporated under President Biden.
"They have been aggressive in rolling back the harmful regulations the Biden Administration put in place...he has unleashed out potential, that is the most important thing," says Stewart. "He has unleased out potential to produce more and more, and that will help keep our position as a global energy powerhouse."
That title was waning in the last few years, at best, with the U.S. having to reach out to places like Saudi Arabia for oil. The buying it for double the price, because Biden emptied the strategic reserve to lower gas prices. Which did nothing but hurt our energy production further.
But there are still some things to shore up, especially as Trump aims to bring more manufacturing back to the states.
"We have to also re-shore the manufacturing supply chain that goes into energy production," says Stewart.
Sure, there are things that still need to be fixed. Rectifying the Biden disaster cannot be done overnight. But this is the first step toward American energy dominance, and it is just the beginning.
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