- Aug 3, 2012
- 29,695
- 29,417
- Country
- United States
- Faith
- Christian
- Marital Status
- Married
- Politics
- US-Democrat
As you can see from the chart, in 1985 US oil production began to drop from approx 9000 barrels per day to half that, then after the recession began to go back up again to slightly above the 1985 level in 2015 which it began to drop again (probably due to the Dakota pipeline protests that trump ended as soon as he got into office) towards the end of 2016 it suddenly began to rise again to 13,000. Do you really believe it would have risen to that level had Trump not been in office?
U.S. Crude Oil Production - Historical Chart
And if you drill into that chart, you can see that production turned up just before Trump was elected. Unless he borrowed Barack's Magical Time Machine, he'd have a tough time juicing oil production before he'd taken office.
Regarding the production drop in 2015, no, it had nothing to do with the pipeline protests. As you can see from the chart that you posted, production started to fall in the summer of 2015, whereas the pipeline protests didn't start until the spring of 2016. Additionally, by what mechanism would protests around an unbuilt pipeline cause the rest of the industry to cut production?
The answer is none. There is no mechanism. Do you stop going to work because somebody is picketing a separate, under-construction facility elsewhere in your industry? No, you don't, and neither does the oil industry. The cause of both of these shifts in production output was the change in oil prices, which impacts the profitability of drilling in certain fields. If you bother to research the issue, you'll find that oil prices plummeted in summer 2014, finally bottoming out in Feb 2016, at which point they started rebounding.
Crude Oil Prices - 70 Year Historical Chart
As you can see from the below chart, over the past 50 years unemployment in a healthy economy is usually 4%-6%. After the recession ended it went from a high of 10% back to a healthy 4% when Obama left office. When Trump entered office, it dropped down to 3% something unseen in 50 years.
Compare Today's Unemployment with the Past
What it shows is a steady downward trend from 2009 through 2019. If you look at a chart with more granularity, you can see that there is no shift in the rate of change after Trump took office; it merely continued on the pre-existing trend.
Last edited:
Upvote
0