One of President Trump’s most important accomplishments in office has been the energy revolution that has led to sharply increased oil and natural gas production and job creation in the U.S. But our days of energy insecurity and dependence on other nations in unstable areas of the world to meet our energy needs will return if former Vice President Joe Biden wins the November election.
The Trump administration’s deregulatory policies, combined with a rapidly innovating domestic energy industry, led to the U.S. becoming a net exporter of petroleum products in 2019 — including gasoline, diesel fuel and crude oil — for the first time since 1949.
Overall U.S. exports of all forms of energy exceeded energy imports last year for the first time since 1952. And in 2017, America exported more natural gas than it imported — for the first time in 60 years.
This surge in American energy production has saved Americans more than $200 billion a year on energy costs for their cars, trucks, homes and businesses. Further, these lower energy costs provide an even greater benefit to lower-income households, which typically spend a larger share of their earnings on energy.