Why Trump’s return will bring blockbuster years for natural gas

In October 2008, with the economy reeling from the onset of the Great Recession and oil prices having spiked to $147 per barrel ($211 in today’s money), Vice Presidential candidate Joe Biden was asked during a debate to contrast his party’s energy policy with that of the Republicans. Biden said that their “only answer is drill, drill, drill. Drill we must, but it will take 10 years for one drop of oil to come out of any of the wells that are going to be drilled.”

His vice presidential opponent Sarah Palin pounced; “The chant is ‘drill, baby, drill.’ And that’s what we hear all across this country… because people are so hungry for those domestic sources of energy to be tapped into.”

Biden and Obama won that election, though Biden woefully underestimated American ingenuity. During the Obama years drillers boosted natural gas production by 45% to 92 billion cubic feet per day (bcfd), while oil output more than doubled to 9 million barrels per day (bpd).

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Source: Forbes

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