Partly cloudy skies this evening will give way to cloudy skies and rain overnight. Low 54F. Winds light and variable. Chance of rain 90%..
Partly cloudy skies this evening will give way to cloudy skies and rain overnight. Low 54F. Winds light and variable. Chance of rain 90%.
Updated: April 9, 2026 @ 10:50 pm
Editor,
Matt Grocott’s April 12 column mistakenly describes the U.S. oil industry, past and present. We achieved energy independence during the Obama administration for the first time since the 1960s and are still energy independent. U.S. oil production fell sharply when the COVID-19 pandemic started during the Trump administration but has risen during the economic recovery under President Biden. (Source: U.S. Energy Information Administration, “U.S. Field Production of Crude Oil.”)
Energy independence doesn’t mean we stop importing foreign oil, however. We have continued importing oil during the Obama, Trump and Biden years even while exporting it. “Energy independence” means we export more energy (oil and natural gas) than we import. Sometimes it’s more profitable to export oil than to use it domestically. Sometimes it’s more profitable to import oil than to source it domestically.
Profit is the motive. The oil industry manages production and trade to push prices up, not down. Oil flows to the highest global bidder, not to where it’s most needed or wanted. Unfortunately, some champions of capitalism don’t fully understand capitalism.
Tom R. Halfhill
Burlingame
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(1) comment
Mr. Halfhill, unfortunately, understanding capitalism doesn’t explain why bumbling Biden doesn’t promote an increase in domestic oil supply. Perhaps instead of understanding capitalism, you could educate Biden on supply and demand. Perhaps you could also comment on the increasing inflation rate – and don’t try using the debunked Putin war narrative.
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