Oil and gas production is stubbornly hanging on as a key source of economic growth amid a “regulatory assault” from the Biden administration that seeks to wean the U.S. off of fossil fuels, experts told the Daily Caller News Foundation.
Real U.S. gross domestic product (GDP) grew 2.5% in 2023, with the states experiencing the most growth owing largely to their mining sectors, which include oil and gas extraction, according to data from the Bureau of Economic Analysis (BEA). Growth in the domestic harvesting of oil and gas has helped increase GDP, bolstering perceptions of the economy on paper, despite President Joe Biden’s push to hamper fossil fuel production in order to facilitate a transition to alternative sources of energy like solar and wind, experts told the DCNF. (RELATED: Biden Vowed To Protect American Steel — But Another Effort Of His Could Destroy It)
“The…
