The Great Recession recovery wasn't powered by Obama; it was oil and gas washex.am/2w8x4Qa
In fact, Obama actively worked to restrict the industry that led the economy as a percentage of GDP growth. Oil and gas development accounted for nearly half of GDP growth, and the fracking boom alone accounted for 9.3 billion jobs,
States such as Texas contributed nearly 70% of all jobs created during the Obama administration. Wage growth for workers in the natural gas industry also skyrocketed, with workers in states such as North Dakota seeing their weekly wages increase up to 40% in the post-shale boom.
Without oil and gas development, there would have been almost no economic or job growth during the Obama administration.
By 2014, 98.5% of fracking occurred on nonfederal lands, yet the Obama administration attempted to seize more federal lands throughout his tenure. Permits for federal onshore extraction during the Obama administration declined.
For all the talk of Russian meddling in U.S. affairs, there’s clear evidence the Kremlin funded the anti-fracking movement.
Obama’s push for renewable energy, which focused on wind and solar energy, failed to achieve market dominance. Crony schemes such as Solyndra wound up costing taxpayers even more. By the end of the Obama administration, renewables only contributed 10% of energy production.
Obama cannot take credit for the economic boom we are seeing under the Trump administration. It happened in spite of him, not because of him. The oil and gas boom powered the economic recovery from the Great Recession, not Obama’s attempts to stop it.
