Even with Record Russian Imports and OPEC Confusion, Biden Administration Keeps New Oil & Gas Leasing Locked Up
- Jul 8, 2021 3:31 pm GMT
During the 2020 presidential campaign, then-candidate Joe Biden said that if elected he would “phase out fossil fuels.” Just hours after being sworn in, his administration began to make good on that promise, issuing executive and secretarial orders to curtail domestic production. Today, the United States is importing increasing volumes of oil from Russia while also finding itself once again in the position of asking OPEC to ramp up output.
Just two years ago, the United States was the world’s largest oil producer and was even a net exporter. What happened?
A Look Back
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