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An American Energy Policy That Makes No Economic Sense

CTUP co-founder Arthur Laffer has put out this updated chart on the massive increase in oil imports both in dollars and barrels over the past seven years.

Under Trump oil imports fell to a fifty year low.  Under Biden American oil and gas production has fallen, therefore imports have done a U-Turn and are way up again.

This doesn’t benefit the environment of the planet because American (and global) consumption of oil and gas remains at a record high. The only change is that now we get more of our fuels from Saudi Arabi and OPEC nations and less of it from Texas, Oklahoma, and Pennsylvania.

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