As we enter the sixth year of the Trump administration, we are seeing the effects of the country’s worst oil bust in more ways than one.
In the past year alone, US oil output has fallen by more than a quarter, with oil production falling by about 10 million barrels per day.
The decline is a direct result of the US shale boom, with production plunging by more a third since the end of 2014, a result of a combination of cheaper natural gas, a weak economy, and US President Donald Trump’s continued support for the fossil fuel industry.
As the US continues to struggle with climate change and the decline of oil production, Trump has repeatedly attacked the US for not being able to produce enough oil and natural gas.
But, despite Trump’s constant attacks, the Trump Administration has been doing something about it.
On the heels of his first 100 days in office, the US is on track to become the second-largest oil producer on Earth.
That’s according to a recent report from the Energy Information Administration, which predicts that by 2040, the United States will have produced more oil than any other country on Earth, overtaking Saudi Arabia.
However, as oil production has been falling, US energy output has been rising.
For 2017, US output is expected to be higher than in any year since 2014, with US production expected to surpass Saudi Arabia in the year 2020, according to the EIA.
And as US energy production continues to rise, so does its price.
According to a report from Bloomberg, in 2018, US prices for oil were expected to reach $30 per barrel.
By 2022, they are expected to have reached $75 per barrel, and by 2026, the price is projected to hit $115 per barrel in 2020.
With a rapidly increasing price, the government has been forced to raise prices, even if it means driving away investment in new oil fields.
The US government has spent the past six years cutting oil production.
It is the reason that Trump has not only increased US oil production by 10 million barrel per day since taking office, but also is currently reducing the production of all of America’s oil reserves, including oil from shale, which has been the source of the nation’s oil boom.
“The Trump administration has made it very clear that they will not cut production,” said David Kamin, director of the Center for Strategic and International Studies.
Kamin, a former deputy assistant secretary of state, told Bloomberg that the Trump administration will “keep drilling, and keep drilling” even if oil prices are high.
To make matters worse, Kamin believes that the Trump’s administration is pushing the oil industry to find new oil and gas fields as they are “too expensive to drill,” with companies trying to make the most of the situation.
These days, companies like Halliburton and Schlumberger are pushing for more unconventional oil exploration, including the use of fracking.
While these companies are pushing to find oil in areas that are not currently under US jurisdiction, the Obama administration has been pushing for a policy that would make it easier for them to find and develop those areas.
Under the Obama Administration, the Bureau of Land Management has approved new drilling leases for the oil and other minerals that are being developed on public lands, including in Wyoming and Utah.
This is in addition to the current leasing process, in which the BLM approves all oil and mineral development plans.
When Trump was elected, the White House proposed increasing the BLM’s oil and minerals leasing authority to 8 million acres, and the Department of Interior has been working on a plan to expand the BLM to 9.5 million acres.
All of these projects are expected within the next three years.
Although oil and coal production is the largest single source of US energy, the country is also reliant on oil and its natural gas for its power.
Currently, the only energy source that is cheaper to burn is coal, but with the increased use of renewable energy and the increase in electric cars, the need for coal is becoming more apparent.
President Trump is now actively pushing for the US to get rid of the Keystone XL Pipeline.
Trump has also been pushing to expand offshore drilling, which would open up vast stretches of ocean and allow companies like ExxonMobil and Shell to exploit vast amounts of oil and shale deposits.
Oil and gas exploration has also become the cornerstone of the Republican Party platform.
During the 2016 election cycle, the GOP nominated Trump for president, but he ultimately lost to Democrat Hillary Clinton.
A Republican House of Representatives has already passed legislation to repeal the Affordable Care Act.
One of the major issues facing the Republican party is the continued rise of global warming.
The United States currently leads the world in greenhouse gas emissions, which have caused a record increase in extreme weather events such as droughts, wildfires, and floods.
If the Trump government fails to act to curb climate change