In an article titled "Biden's energy policies costing U.S. economy $100 billion a year: study," Kleigman discusses recent study by economists Stephen Moore and Casey Mulligan at the Committee to Unleash Prosperity which found that the Biden administration's oil and gas policies have cost the U.S economy $100 billion a year.
According to the study, the United States has produced far less oil and gas than it would have, given current market conditions, absent the Biden administration's policies limiting oil and gas production and making such production more expensive.
Discussing the study, Kleigman writes: "The U.S. would be producing between 2 and 3 million more barrels of oil a day and between 20 and 25 more billion cubic feet of natural gas under the Trump policies," states the report, which was published by the Committee to Unleash Prosperity.
As a result of Biden's failed diplomacy, oil prices are on the rise again.
Although Saudi Arabia has some of the lowest oil production costs in the world, the kingdom itself is very dependent on oil sales for funding the government.
As a result, Saudi Arabia, one of America's greatest oil producing competitors, has a strong incentive to keep prices high.
Biden's policies, as detailed by Climate Realism here, here, and here have hindered American energy production, handing control of oil prices back to OPEC and OPEC , after Trump made the United States energy independent.
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