Policies enacted by the Biden administration have wreaked havoc on America’s ability to be more energy independent.
The brutal winter storm currently affecting oil and gas hot spots compound on the industry’s decimation
In a exclusive report, sources close to many oil and gas CEOs reveal that production has dropped nearly 40% since Biden assumed office.
Under Trump crude oil production skyrocketed.
Now with Biden at the helm crude oil production has plummeted. More than four million barrel daily decrease has resulted in increasing energy prices, often affecting the poorest Americans
The cold crisis has aided in the decrease in crude oil production as well, the report notes.
America’s largest oil field, The Permian Basin, has been hit the hardest. Production in the area that straddles western Texas and New Mexico is down between 65 percent and 80 percent.
On Wednesday oil and gas prices shot through the roof. Prices are expected to continue to rise, surpassing the price under Trump by a mile.
The crash in production is expected to last as Biden champions “green” energy options.