News Formal

Under Biden, US oil production is poised to break Trump-era records | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

US oil output is now projected to rise to an average of 12.8 million barrels per day this year for the first time ever, according to federal estimates released Tuesday

. For context, that’s about half a million barrels per day more than the prior annual record set in 2019. It’s also more oil than any other country on the planet produces — the next-closest nation, Saudi Arabia, produces about 10 million barrels per day, according to OPEC. The looming milestone undercuts the argument made by some 2024 GOP presidential contenders that the Biden administration is strangling the oil industry with red tape.

And yet this White House is especially sensitive to spikes in gas prices because voters view pump prices as a key economic barometer. “Rising pump prices always terrify a sitting president because they hurt consumer confidence and the president’s approval rating,” Rapidan Energy Group wrote in a note to clients earlier this month. “But the stakes are even higher now since rising oil prices threaten to blow the Fed’s hoped-for ‘soft landing’ off course.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 4. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Hunter Biden's business world overlapped with Joe Biden's political worldThe fact that some Biden family confidantes had roles that intersected with both Hunter Biden's business dealings and Joe Biden's political career is significant, considering Joe Biden's repeated claims of having no knowledge of his son's business activities. While Joe Biden now asserts that he was never involved in business with his son, some of his aides cannot make the same claim.
La source: dcexaminer - 🏆 6. / 94 Lire la suite »

Comer: Biden Business Received over $20M While Joe Biden Was VPThe Biden family business received over $20 million from Russia, Ukraine, and Kazakhstan while Joe Biden was vice president. This includes payments from the family foreign business ventures, including two of Joe Biden’s grandchildren. Comer predicted in June that the committee’s work would ultimately show the Biden family accepted up to $30 million from its foreign business dealings.
La source: BreitbartNews - 🏆 610. / 51 Lire la suite »