Fact Check: "Are we really more oil now than when Biden left office?"
What We Know
The claim that the United States is producing more oil now than when President Biden took office is supported by several key statistics. In 2023, U.S. crude oil production averaged 12.9 million barrels per day (b/d), which is a record high, surpassing the previous record of 12.3 million b/d set in 2019 (EIA). This increase in production has been attributed to advancements in extraction technologies, particularly hydraulic fracturing and horizontal drilling, which have significantly boosted output since 2009 (EIA).
Moreover, the U.S. has consistently produced more crude oil than any other country for the past six years, and in December 2023, production peaked at over 13.3 million b/d (EIA). The U.S. accounted for about 40% of global oil production in 2023, alongside Russia and Saudi Arabia, which indicates a strong position in the global oil market (EIA).
Analysis
The evidence indicates that U.S. oil production has indeed increased significantly under President Biden, despite his administration's push for a transition to cleaner energy sources. Reports show that the U.S. oil and gas industry has thrived during his presidency, with record production levels being achieved even as the administration implements climate policies aimed at reducing fossil fuel dependency (Reuters).
Critics of Biden's energy policies often point to rising gas prices and the administration's regulatory actions, such as canceling the Keystone XL Pipeline and reducing federal oil leasing. However, these actions have not curtailed production in the short term. In fact, the U.S. has seen a 11.3% increase in jobs in the fossil fuel sector during Biden's term, outpacing growth in renewable energy jobs (Reuters).
The reliability of the sources used in this analysis is strong. The data from the U.S. Energy Information Administration (EIA) is widely regarded as authoritative in the field of energy statistics. Similarly, Reuters is a reputable news organization known for its fact-based reporting. Both sources provide a comprehensive view of the current state of U.S. oil production and its implications.
Conclusion
Verdict: True. The claim that the United States is producing more oil now than when President Biden took office is accurate. The data clearly shows record levels of oil production in 2023, which have surpassed previous highs. This increase is significant and reflects the complexities of the global oil market, where U.S. production has continued to rise despite ongoing climate initiatives.
