Biden’s War On Oil And Gas Has Cost The U.S. $250 Billion In Lost GDP: Study

President Joe Biden’s war on the oil and gas industry has cost the United States more than a quarter of a trillion dollars in lost economic activity. The Committee to Unleash Prosperity released the findings of its study after U.S. oil production under Biden has failed to reach the same trend line regarding rate of growth that was achieved under former President Donald Trump. While the U.S. is currently producing more oil than ever before, it is only slightly higher than the U.S. was producing in 2019, prior to the coronavirus pandemic. The study found that the average price of a barrel of oil has been significantly higher under Biden, $72 per barrel, than it was under Trump, $54 per barrel