Why The Media’s “US Pumping Oil Faster Than Ever” Narrative is False

Why The Media’s “US Pumping Oil Faster Than Ever” Narrative is False

August 29, 2023

The media wants you to believe that the U.S. is pumping plenty of oil faster than ever. This narrative is misleading. Most recently, Politico ran a story claiming that the  “US Pumping Oil Faster Than Ever.” The media conveniently leaves out the following messages that counteract this misleading narrative.

First, the Politico article relies on forecast production levels and not actual production. When actual production numbers are shown, it reveals that U.S. oil production is trending down for the most recent months for which data is available. Also, the article does not clarify how much, if any, President Biden’s draining of the Strategic Petroleum Reserve is included in their production numbers.

Second, oil production in Texas (the leading oil producing state in the nation) is at high levels because Texas has a much smaller percentage of land under federal control. For perspective, the federal government controls less than 2% of land in Texas versus nearly 60% of the land in Alaska. This much smaller role in production in Texas is in contrast to states like Alaska or off the Gulf Coast where the Biden Administration has cut production.

Third, drilled but uncompleted wells – known as “DUCs” – are down, which shows American companies are relying on existing projects, not new ones. Oil is a long-term industry – meaning we’re still seeing the impacts of Trump and Obama era energy policies. The impacts of Biden’s restrictive policies won’t be evident for another few years.

Fourth, the Biden administration has leased fewer acres for oil-and-gas drilling offshore and on federal land than any other administration end of World War II, according to a Wall Street Journal analysis. No matter how Politico spins it, the United States has the potential for much more production than they are currently permitted to achieve.

Joe Biden has made OPEC great again. Politico spins the narrative that OPEC and not President Biden’s war on American oil production is the driver of high gas prices. However, in 2017, the IMF noted OPEC’s cuts, and yet gas prices in the US were stable and much lower than they are now. American oil production helps insulate our families from foreign volatility.