It has had little to do with Trump or Obama either way, political support or no political support.
The only thing giving an additional recent boost to oil and gas was the 2015 bipartisan agreement to end the oil export ban, signed by Obama.
Industrial production from all mining categories is up almost 17% 2015-2019, and a whopping 53% 2007-2019.
Industrial production from coal mining, a subset of this like oil and gas, is down over 39% since 2007, and 21% since 2015 despite Trump's promise to restore the industry. Industrial production from base metals mining is up less than 3% since 2007. Industrial production from gold and silver mining is down almost 15%.
Industrial production from crude oil mining is up a whopping 140% since 2007, and from natural gas 79% from 2007 through November 2019 on an average basis.
Otherwise it's a sorry picture.
Industrial production from manufacturing is down 1.3% 2007-2019, despite Trump running on bringing manufacturing back to the United States.
And industrial production from electric and gas utilities has grown a paltry 2% 2007-2019.
It's all mining of crude oil and natural gas.
If the anti-capitalist climate kooks get their way, we're all in big trouble.
