(NewsNation) — The United States has set a record for oil production, with just over 13 million barrels per day produced in August, according to the Energy Information Administration.
Crude oil production reached 404.6 million barrels in August. This is a new record, surpassing the previous one set by U.S. drillers in July, which was 401.73 million barrels.
U.S. production has increased by 33 million barrels compared to last year.
Despite record-breaking production levels in August, U.S. crude oil inventories are nearly unchanged from the beginning of the year, with a difference of only 3 million barrels.
President Joe Biden’s campaign took notice of this, and a spokesperson posted a question on X, saying, “What are Republicans going to say now?”
Marc Lotter, former special assistant to President Donald Trump, applauded the growth in oil production but criticized Biden’s handling of the situation. He argued that gas prices remain high, and the cost of oil has surged during Biden’s tenure.
“We also shockingly don’t have the refining capability to turn that oil into gasoline,” Lotter said in a panel discussion on NewsNation’s “The Hill.”
Dan Kanninen, a former Obama official, acknowledged Biden’s challenge in trying to fulfill his campaign promises to accelerate the transition away from fossil fuels while dealing with external factors beyond his control, such as the conflict in Ukraine, global inflation and high gas prices.
The transition to renewables would take time, and increasing oil production might be a necessary step in the short term, according to Scott Bolden, former Washington, D.C., Democratic Party chairman.
He argued Biden should not be criticized for this as part of the transition process.
Denise Gitsham, a former aide to President George W. Bush, underscored the importance of energy security for national security, suggesting that everyone should celebrate increased domestic oil production. She expressed her belief that it is a critical factor in safeguarding the nation’s well-being.
