Biden Energy Policies Reducing America's Global Influence

Contributing sentiments towards policy:

58% : And U.S. producers delivered by sending record oil and LNG exports to the EU.
57% : The U.S. will produce a record 13.1 million barrels a day of oil and 112 billion cubic feet per day of natural gas this year.
56% : But a closer look also shows that the IEA, under that same long-term forecast, expects oil demand to be over 97 million barrels a day in 2050, or just about 3% below current levels.
54% : Antagonists like China, Russia, Iran and Venezuela have grown stronger since early 2022 when Russian tanks crossed into Ukraine.
50% : Companies like Exxon Mobil, Chevron and Occidental Petroleum are now trying to do this using carbon capture technologies in the Permian Basin, the main engine of U.S. oil production in Texas and New Mexico.
48% : Beijing knows it will be heavily reliant on oil for years to come and has thus forged closer relationships with producing nations Russia and Saudi Arabia - including deals to build new refineries and petrochemical plants that will be supplied with Saudi oil.
46% : Irate with Biden's push for a rapid energy transition away from oil, Riyadh has voluntarily slashed its production by 1 million barrels a day since July - both to make room for resilient Russian volumes and to keep oil prices high.
40% : When Europeans, the globe's most prominent climate activists, lost access to their biggest supplier of oil and gas in Russia last year, who did they turn to?
40% : Energy executives scoffed at the IEA's recent forecast that demand for fossil fuels - oil, gas and coal - will peak before 2030.
38% : Some of these moves could have been avoided had Biden not sold off record volumes of oil from the U.S. Strategic Petroleum Reserve (SPR) last year after prices spiked with the onset of the Ukraine war.
14% : The Biden administration has been desperate to tamp down rising prices and restart a nuclear deal with Tehran that former President Trump scuttled.

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