How US oil production hit a record under Biden despite climate policies [Reuters]
BP p.l.c. (BP)
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Source: Reuters
March 28 (Reuters) - Record production. Booming exports. Rapid jobs growth. Soaring CEO pay and shareholder returns. Almost no matter the metric, the U.S. oil and gas industry has flourished under President Joe Biden , even though his administration has pushed hard to transition the U.S. economy toward a carbon-free future to fight climate change. The counter-intuitive fossil fuel boom under Biden reflects an awkward truth for his supporters and detractors alike ahead of the November elections , proving that what happens in globally interconnected markets like oil and gas is often well outside the immediate control of the person in the White House. In Biden's case, Russia's invasion of Ukraine pushed oil and gas prices so high that many producers worldwide made record profits, not just those in the United States. The global economic recovery that followed the darkest days of the COVID pandemic also rapidly pumped up demand for fossil fuels. The profits of the top five publicl
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