Posted 3/28/2024, 10:00:00 AM
U.S. Oil Boom Under Biden Defies Expectations
- Oil production, exports, jobs growth, CEO pay, and shareholder returns have flourished under Biden despite his push for clean energy
- High oil prices due to Russia's invasion of Ukraine and recovering demand after COVID drove record profits for oil companies
- U.S. oil and gas jobs grew faster than clean energy jobs during Biden's first two years
- U.S. oil production hit record highs under Biden, with booming exports benefiting allies weaning off Russian energy
- Dividends and share buybacks by top oil companies surged 57% higher under Biden versus Trump's first three years