The U.S. Will Be Dependent On Oil For Far More Than A Decade

During President Biden’s 2023 State of the Union Address, he relayed an anecdote that I believe explains his stance toward the oil and gas industry. At first, he stayed on script with his prepared remarks, claiming: “You may have noticed that Big Oil just reported record profits. Last year, they made $200 billion in the midst of a global energy crisis. It’s outrageous. They invested too little of that profit to increase domestic production and keep gas prices down. Instead, they used those record profits to buy back their own…