Biden Administration Falsely Claims Oil Production at Record High

[PatMiles]

Fact Check: Biden Administration Falsely Claims Oil Production at Record High

Oil production is still short of the record highs achieved under the Trump administration. | Economy

www.breitbart.com

Claim: U.S. oil production is at a record high, the Department of Energy claimed following a meeting between executives of U.S. petroleum refiners and Secretary Jennifer Granholm.


“At a time when the U.S. is achieving record oil production under the Biden administration, and President Biden is taking historic actions to add to that supply including releasing one million barrels a day from the Strategic Petroleum Reserve and rallying the world to add an additional 240 million barrels, she reiterated the President’s call for them to do more to ensure that their companies are passing savings on to their customers,” the Department of Energy said in a press release Thursday (emphasis added).


Verdict: False.


U.S. oil production is not a record high. While elevated compared with past years, it has not reached the pre-pandemic peak hit while Donald Trump was president, according to data from the U.S. Energy Information Administration. Ironically, the EIA is a subdivision of the Department of Energy that made the false claim.


U.S. oil production is at the highest level it has been while Biden has been president but that is not the natural implication of the claim above.

The Department of Energy statement contains another false claim when it refers to “the Presidient’s call for them [the refiners] to do more to ensure that their companies are passing savings on to their customers.” The cost of oil is at extremely elevated levels by historical standards. Compared with recent years, oil prices are up tremendously. Refiners are not seeing any “savings” they could pass on to customers.

YOU DO BELIEVE THEM...DON'T YOU?

 

[GreenGO Juan]

Fact Check: Biden Administration Falsely Claims Oil Production at Record High

Oil production is still short of the record highs achieved under the Trump administration. | Economy

www.breitbart.com

Claim: U.S. oil production is at a record high, the Department of Energy claimed following a meeting between executives of U.S. petroleum refiners and Secretary Jennifer Granholm.


“At a time when the U.S. is achieving record oil production under the Biden administration, and President Biden is taking historic actions to add to that supply including releasing one million barrels a day from the Strategic Petroleum Reserve and rallying the world to add an additional 240 million barrels, she reiterated the President’s call for them to do more to ensure that their companies are passing savings on to their customers,” the Department of Energy said in a press release Thursday (emphasis added).


Verdict: False.


U.S. oil production is not a record high. While elevated compared with past years, it has not reached the pre-pandemic peak hit while Donald Trump was president, according to data from the U.S. Energy Information Administration. Ironically, the EIA is a subdivision of the Department of Energy that made the false claim.


U.S. oil production is at the highest level it has been while Biden has been president but that is not the natural implication of the claim above.

The Department of Energy statement contains another false claim when it refers to “the Presidient’s call for them [the refiners] to do more to ensure that their companies are passing savings on to their customers.” The cost of oil is at extremely elevated levels by historical standards. Compared with recent years, oil prices are up tremendously. Refiners are not seeing any “savings” they could pass on to customers.

YOU DO BELIEVE THEM...DON'T YOU?

It depends on how you measure production. If you are talking just crude oil yes, 2019 was and still is a record year for the United States.

But if you count by BTU including gas/all hydrocarbons yes I believe we are producing more btu of energy. 2021 was a record year for gas production and 2022 is on track to break that record.

Crude production this year is not far off the record year of 2019.

All that being said there are other factors effecting the market value. Ie the high prices. And yes Biden does bear responsibility for the increase through multiple policies both foreign and domestic. But domestic production is not necessarily the problem.

This was planned. They are making record profits. Biden doesn’t support green energy. He supports increasing the price to reap profits and has tricked the idiot tree huggers into thinking he gives a shit about saving the environment...

FJB.

 

[GreenGO Juan]

And the EIA prediction is that we will break that 2019 record in 2023... at those artificially inflated prices.

They are laughing all the way to the bank

 

[MichaelSavan]

I think that the claim was false. However, we might have problems in this sphere due to the world’s situation. It’s hard to predict what is going to happen next. However, the fuel price continues to rise because of the war between Russia and Ukraine. It’s affecting our lives less than in Europe, especially in Ukraine. However, it does.
Moreover, this tension tends to grow. It gets harder to perform oil transitions and document everything properly without spending high sums. Luckily, companies are helping to deal with that. More useful information here https://www.digitaloilandgas.solutions/

 

[Dunraven]

A dimocrat will shamelessly proclaim that black- is- white on monday, then white- is- black on wednesday, if it suits their purposes. Their 'truth' is always filtered through their political prisms.

 

[DarnYankeeUSMC]

It's transitory.

 

[MadDuner]

I just want to find out who the sheep are that take any info put out by any government as gospel or 100% truth.

 

[FatBoy]

I wonder how much of this is supply, and how much is trading speculation. So much of our lives are influenced by peoples feeling of how shit is going. I have no trust in these clowns, guessing most others don’t as well. Even their own players.

BTW, CCI 41s just hit $124 per K at Brownells. You want to talk “inflation “, let’s talk about how our own actions are driving this bullshit…

 

[supercorndogs]

"Record high" has become a bullshit buzzword. I was just reading an article the other day. The department of ag said that our severe doubt was being exacerbated by record high temperatures. So, i went to the data, we have not set a single record temperature this summer, and our average for the summer is lower than "average." We also had less days of 100+ than the last 3 years. Record temps, record oil production, record hospitalizations, record death rates. Record high taxes {oops that one is real} record low unemployment, thats one is fake for sure. Record high voter turn out in the 2020 election.

 

[MadDuner]

"Record high" has become a bullshit buzzword. I was just reading an article the other day. The department of ag said that our severe doubt was being exacerbated by record high temperatures. So, i went to the data, we have not set a single record temperature this summer, and our average for the summer is lower than "average." We also had less days of 100+ than the last 3 years. Record temps, record oil production, record hospitalizations, record death rates. Record high taxes {oops that one is real} record low unemployment, thats one is fake for sure. Record high voter turn out in the 2020 election.

Well, they did "record" all of those numbers....

 

[Bigfatcock]

"Record high" has become a bullshit buzzword. I was just reading an article the other day. The department of ag said that our severe doubt was being exacerbated by record high temperatures. So, i went to the data, we have not set a single record temperature this summer, and our average for the summer is lower than "average." We also had less days of 100+ than the last 3 years. Record temps, record oil production, record hospitalizations, record death rates. Record high taxes {oops that one is real} record low unemployment, thats one is fake for sure. Record high voter turn out in the 2020 election.

It’s summer. It’s supposed to be hot.

 

[supercorndogs]

And its not abnormal to be "above average" or below average. Thats how average works.

 

[MadDuner]

It’s summer. It’s supposed to be hot.

This has been the mildest summer here in Phoenix that I can remember.