This is NY Post bs.
Trump did not deliver energy independence.
The oil industry actually hasn’t done that well under Trump
The oil industry’s fortunes have been withering on President Donald Trump’s watch, with dozens of oil companies falling into bankruptcy as weak crude prices take a toll on the sector he contends
would be abolished if he’s not reelected.
Though some of those industry woes were emerging last year as companies grappled with a glut of oil, people in the business say they were made worse by the president’s trade wars and mishandling of the coronavirus pandemic. So far least
40 U.S. oil companies have sought bankruptcy protection in 2020 while dozens of others have slashed spending and cut tens of thousands of jobs.
But along with the rising number of bankruptcies, the oil and gas sector’s debt has skyrocketed by a third to almost $180 billion. U.S. oil production has slumped by a quarter from record levels hit in the past year, nearing levels last seen during Trump’s first year in office. Exports of oil, which began during the Obama administration, have dropped. Energy analysts at Platts Analytics expect U.S. oil shipments — which the administration had cited as evidence of the nation’s “energy dominance” — will drop by about a third next year from 2020 levels.