Under President Joe Biden's administration, the U.S. oil and gas industry has seen significant growth, reaching record production levels of more than 13 million barrels per day and profits. Despite this success, the industry has shown a preference for Republican allies, evidenced by increased donations. This paradox is highlighted by the industry's criticism of Biden and support for former President Donald Trump. The industry's stance is seen as a response to regulatory pressures, including recent actions by the FTC against shale pioneer Scott Sheffield, which are perceived as part of a broader government assault on domestic oil and gas. Additionally, oil exports have surged under Biden's tenure.
To be clear, the US oil industry has done MUCH BETTER under Biden than Trump. This is the performance of the Bloomberg Americas Oil & Gas Index since 2016: https://t.co/ICHxmoUWCb https://t.co/u2AdeCEAAV
Big Oil boomed under Biden. So why does it hate him? https://t.co/MuhY92oPJG @mylesmccormick_ @JamieSmythF & @sam_learner via @ft
Big Oil boomed under Biden. So why does it hate him so much? And why is it backing Trump despite serious misgivings - a long read explainer on US oil politics by @mylesmccormick_ @sam_learner @JamieSmythF https://t.co/GqHrIvFXpU via @ft
US oil production is now nearly three times what it was when Obama was elected. “Big Oil boomed under Biden. So why does it hate him?” https://t.co/DeT60BeOpN
US oil and gas companies have reached new highs in production — and profits — during Joe Biden's presidency. Industry bosses say this is in spite of the president, not because of him https://t.co/ZivAqiID2g https://t.co/Ygl0j9io62
“Yet the rhetoric of the 2 candidates belies an inconvenient truth…[the US] oil & gas industry has flourished under Biden. At more than 13mn b/d, production is at record levels, exports…have surged & the scale of annual profits has been unprecedented.” https://t.co/2LHbRsW1eU
Good piece about the FTC's recent attack on shale pioneer Scott Sheffield—which is part of a broader irrational government assault on domestic oil and gas. https://t.co/yCnX1LlvwW
U.S. Oil and Gas Production Is Booming. So Are the Industry’s Donations to Its GOP Allies via @capitalandmain - https://t.co/ivFvr8cl1n quoting yours truly!
U.S. oil and gas production Is booming. So are the industry’s donations to Its GOP allies https://t.co/lJ9TERyc62 h/t @sejorg