The oil industry has continually shed jobs since Trump
Posted on: February 10, 2021 at 13:38:00 CT
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became president despite his oil friendly policies. Weak oil prices through the Trump presidency and the total collapse of the price in 2020 resulted in massive layoffs that are still continuing. Biden's policies will initially at least actually stabilize the industry by shoring up prices. The Keystone pipeline would have been a boon to Canadian oil producers but it would have further hurt the US oil industry by dumping 10% more production into the market when oil prices are weak.