Oil Isn’t Going Anywhere: U.S. Hits Record High for Exports
The United States has set a record high of crude oil exports, exporting 3.99 million barrels per day in the first half of 2023 according to the Energy Information Administration (EIA). Supplying Europe and Asia with dependable and affordable energy, exports rose almost 20 percent compared to 2022, marking a stark demand for oil despite hostile policies that seek to dismantle the vital industry. As oil prices stare down increasing volatility due to international crises, the U.S. needs to continue to support our domestic energy sector to shield our nation from energy vulnerability now more than ever.
In tandem with record high natural gas exports this year, traditional fuel demand and usage continues to grow and we must ensure our energy infrastructure keeps up. Even in the face of shoddy environmental policies by the Biden administration like the recently released offshore oil lease plan, the industry continues to thrive and provide our nation and allies with reliable energy. The outputs of the oil industry are astounding, generating billions of dollars in tax revenue for our nation back into our public services, education, and law enforcement, while providing hundreds of thousands of jobs to hardworking Americans.
Oil keeps our country running and is an integral part of our everyday lives. Realities from global crises demonstrate the need to bolster production in order to stabilize and ensure affordable energy prices for Americans during a markedly high period of global inflation. Oil has clearly demonstrated its potential, and it’s time for the Biden administration to stop undermining this crucial industry.
