The Obama-era Republican catchphrase “Drill, baby, drill” has become a familiar mantra in U.S. politics. This slogan, coined by the ex-Republican National Committee Chairman Michael Steele in 2008, was manifested as a call for increased domestic energy production, primarily through oil drilling. This sentiment has recently been echoed by ex-president Donald Trump, who continues advocating for greater oil output.
Looking back at Trump’s administration, the U.S. did secure its position as the world’s top crude oil producer in 2018 and reached record-high domestic oil production the following year. However, much of this growth can be attributed to advances in drilling technology, not necessarily to any political orchestrations. The COVID-19 pandemic saw a momentary slump in oil production due to decreased demand but the U.S. remained the leading oil producer globally.
Under President Biden’s reign, oil production soared to unprecedented heights, with an average of 12.9 million barrels produced daily in 2023, breaking the previous record set in 2019 of 12.3 million barrels daily. The trend continues with a monthly record high of over 13.3 million barrels per day reported for December 2023. Even though growth is projected to slow somewhat in 2024 to 2025, the U.S. is still growing from an all-time high, which signifies that more records are likely to be set.
The strides seen in the U.S. oil industry have been facilitated by policy decisions, including the approval of well permits for oil and gas drilling on federal land. In this regard, Biden has outperformed Trump, having approved nearly 50% more permits than Trump did in his first three years, according to a report. However, it’s important to note that overall oil output is more reflective of global market forces and technological advancements than presidential efforts.
In conclusion, the narrative that Joe Biden’s administration has eclipsed Trump’s in terms of oil production is accurate. The increased levels of domestic oil production under Biden combined with his track record of promoting oil extraction on federal lands surpass that which was achieved during Trump’s term.