EIA Data Source Off Shore Oil Production
EIA Data Source Oil Inventories and Imports
Inflation Data Dot Com
***Dates in Domestic Crude Price Chart reflect United States Recession start and end dates.
For those who don't make the connection: One see's clearly that overall domestic oil production has been declining since 1984. Off-shore oil production has been declining since recently peaking in 2003.
Don't listen to any Republican Party politician tell you what the opposition party has done, is doing or not doing. Look at what the Republican Party has done and what they are doing; since they have zero credibility for what they say and what they do are often quite different.
The fact is George W. Bush & the Republican controlled congress he enjoyed from 2001-2008 beginning 6 of his 8 years in the presidency did nothing to spur domestic oil production growth.
The data further demonstrates supply and demand effects our recent recession had on the countries oil production, inventory and pricing. Domestic crude oil prices recently peaked in 2008, dramatically dropping off into 2009 as oil inventories continued to rise.
Once the recession took hold of our economy from 2008 to 2009 producers brought oil to the market which costs them the least to produce, lowering off-shore oil production, while the countries overall domestic oil production started to rise in 2009. Thus far our domestic oil production continues to rise!
EIA Data Set Start of 2011
US Crude Oil Production Up Under O'Bama After Declining Under Bush
Click Above to See Where This All Began
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