Nowadays, it is difficult for Americans to be informed of the “real story” behind various media reports because of the politicization of news stories by the media and particular slants that are put on incidents by politicians. Other factors affect what holds true from one day to the next. For instance, during President Trump’s time in office, the United States did achieve energy independence for the first time since 1957; however, there is not enough data to credit policy changes or other factors responsible for this independence. Further, there were months in 2020 that the United States was consuming more energy than it produced. President Trump was probably aware of this situation. For, he worked with Canada in the plans for the Keystone Pipeline, a pipeline he hoped might provide the U.S. with the oil independence that many desired.

Just before the pandemic began spending throughout the United States in January, domestic oil production was 12,8 million barrels a day (BDP). This production level kept up for two or three months despite the price war between Russia and Saudi Arabia and the increasing demand destruction resulting from the COVID-18 pandemic. This situation was insupportable, and oil prices fell, forcing some oil producers into bankruptcy. As a result, the most significant short-term drop in oil production occurred in American history in May of 2020 as production declined. However, it has bounced back to 11.3 billion BPD.

The demand for oil in America has risen above 21.8 million BPD. This is a demand that was present prior to the Covid-induced drop. The loss of supply and the resurgence of demand is why the cost of oil is $80/bbl when it was just $60/bbl right before the pandemic. The supply loss of oil has resulted in the United States’ loss of its brief status as a net exporter of petroleum and products made from petroleum. The number had trended down from the high of 13 million barrels per day of imports in 2005 to more than a million BPD of exports in 2020. The United States has now returned to its status as a net importer. Recently, the country has imported a net average of 1.3 million BPD in a month.