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Energy independence.

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Published: 07 Oct 2022 › Updated: 07 Oct 2022Energy independence.

Energy independence.

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These sorts of tweets are so dumb. America has been in some sense "energy independent" under Biden just as with Trump- we produce more energy than we consume, and export more than we import. In any case it is an economically illiterate concept. The US benefits from participating in the global energy market.

Our primary issue is with refinery capacity, and that's hardly Biden's fault. The economics of oil refining aren't favorable. Some of the refineries shut down during the low prices at the beginning of the pandemic, so despite high utilization we have lowered refinery output.

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We produce twice as much oil as we did in 2002, and our refinery capacity has only expanded marginally.

"energy independence" is a slogan for people that want to sound informed, patriotic and signal "rugged individualism" and "common sense" without bothering to actually be informed.

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