Despite Protests, Oil Industry Thrives Under Obama Agenda
- Trade group's annual address includes criticism of agenda
- Gas, oil production boomed during the Obama administration
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The nation’s biggest fossil-fuel trade group delivered its annual state-of-the-industry report Tuesday. True to form, it included a whack at President Barack Obama’s policies -- even though oil and gas have flourished on his watch.
U.S. oil production has surged 82 percent to near-record levels in the past seven years and natural gas is up by nearly one-quarter. Instead of shutting down the hydraulic fracturing process that has unlocked natural gas from dense rock formations, Obama has promoted the fuel as a stepping stone to a greener, renewable future.