Amazing results: How is the US oil industry doing under Biden?

Alexey Gromov made a comment to the magazine "Oil and Capital" about the oil production development in the United States under the Biden administration.

As Alexey Gromov stated, the oil and gas industry in the United States did not develop thanks to or even despite Joe Biden's policy. Apart from the most striking media projects, it was not particularly touched.

"The growth of oil production in the United States is due to the systematic technological progress and innovations that were incorporated into the industry before Biden came to the White House. The main increase in production volumes was provided by the efficiency of functional hydraulic fracturing. If earlier shale production grew due to an increase in the number of drilling rigs, now this is due to an improvement in the operation of the installation itself," the expert explained.

According to Gromov, Joe Biden simply did not interfere with the oil industry, so shale projects developed relatively quietly. The US president, of course, stopped the construction of an oil pipeline from Canada, froze production projects on the Alaska shelf and even, taking credit for this to the "greens", banned the work of the industry in the American Arctic. But all these measures did not have any impact on oil production in the short and medium term. These are long-term restrictions that may be rewritten more than once by the new White House administration over time.

"In practice, over the years it has turned out that the entire "green" agenda of the Democrats, both under Biden and now, in the election controversy of Kamala Harris, bypasses issues related to critical technologies for the development of shale production. Only those projects that will not fundamentally affect the industry are cut off from American oil and gas. The shale industry in the United States is now able to develop independently, without government support. The main thing for it is that regulators do not interfere, which has been happening all these years",— the expert concluded.