As petroleum prices have been rising in the US, U.S. oil production has reached a record high under the Biden administration. In the month of March 2021, the U.S. produced more crude oil than it ever has before, reaching nearly 11 million barrels per day. This breaking record was achieved despite the fact that Joe Biden rarely mentions it.
This significant increase in oil production occurred due to an increase in drilling activity in several states such as Texas, New Mexico, and North Dakota. For instance, the production in Texas rose to 5.5 million barrels per day in April 2021, a 5% increase from the previous month, which was already a new record.
The US oil production isn’t just focused on the west. In April 2021, the first cargo of US crude oil arrived in South Korea, which is a sign that the US is increasingly competing with countries in the Middle East. Moreover, many US areas are seeing an increase in online oil-well permits, pointing to more drilling activity in the near future.
This surge in US oil production shows how the country is continuing under the Biden administration. Despite the fact that the President has pledged to reduce fossil fuel emissions, the US has managed to grow its oil industry with a surprising rate of success. Moreover, Biden’s infrastructure plan provides domestic oil producers with tax incentives, which serves as a major support system.
By setting a record-breaking pace for oil production, the US is cementing its position as a major global producer. As prices remain high, many petroleum producers see an opportunity to capitalize on the market. Ultimately, the success of US oil production shows how the Biden administration is balancing its commitment to reducing emissions with the economic needs of the oil industry.