Mr. Obama did a little dance the other day repeating the Trump Derangement Syndrome Narratives while taking credit for the Republican’s Economic recovery. Does that mean that Barry is laying claim to this economic boon?
U.S. crude oil exports saw an 80 percent increase in the first half of 2018 compared to the same period last year, according to the latest data and analysis issued Thursday by the Energy Information Administration.
That’s an increase of 787,000 barrels per day, to set a new monthly record in June of 2.2 million barrels on average per day.
That rise in exports is the result of undoing things Mr. Obama and the Democrats did.
It represents an increase in productivity, jobs, wages, GDP, and has a positive impact on trade imbalances. It also has a net positive effect on global stability. If nations can get oil and gas from the United States fewer dollars go to rogue states or countries that support terrorism.
Barack “1.6% growth” Obama has no credible claim on this recovery. And his party is running for office with a plan to undo the things that jump-started the economy. They have opposed nearly every reform Trump has suggested. They stood together to block tax reform. And they are not shy about their opposition to American development of her vast natural energy resources.
If allowed back into power they would go right back to trying to keep it in the ground.
But it doesn’t increase productivity, jobs, wages, GDP, or have a positive impact on trade imbalances when we leave it in the ground. Then there’s this.
“Mexico accounted for more than half of U.S. motor gasoline exports in the first half of 2018, the largest single-destination concentration for any U.S. petroleum export,” the EIA’s Week in Petroleum analysis read on Thursday.
In the first half of 2018, U.S. gasoline exports accounted for over 60 percent of all gasoline consumed in Mexico, the agency reported.
There’s another word for this. It’s called leverage. And you can bet it played a role in getting Mexico to dump NAFTA in favor of a deal that is decidedly better for the U.S. and US Manufacturing.
Mexico, for whatever reason, has underinvested in its refining capacity. That may be temporary it may be systemic, or it could be a product of the political landscape. Under Obama and the Democrats, refining capacity was a dirty word. The government used its regulatory force to impede expansion and delay improvements.
Oil was not the answer, according to Democrats. They were so confident (stubborn, arrogant, corrupt) that they wasted hundreds of billions on Green energy failures instead of getting out of the way of real energy opportunities that would cost taxpayers nothing while creating real jobs with real wages paid for by private companies, not taxpayers.
Five years ago, for the umpteenth time, (and some similar number of times since) I wrote that,
“…opening up domestic carbon-energy production would create hundreds of thousands of jobs. Pour private money into every sector of the economy. Get people off unemployment, welfare, and EBT. Give them jobs and a purpose. Lift up the economy and increase tax revenue to states and the general government–all badly in need of all of the above.
It has, would, and will do all of those things without any bail-outs, hand-outs, no-bid contracts, questionable loans to a string of collapsing corporatist-rent-seeking green energy boondoggles.”
Oh, look. It’s happening.
It is happening because Mr. Trump has a different view of America’s role in global energy production. He sees it as an opportunity, and he’s taking advantage of it to the benefit of jobs, families, the economy, and global influence.
Obama had nothing to do with that.