“Lifting the restrictions on American energy will increase GDP annually by $100 billion, create 500,000 new jobs and increase wages by over $30 billion over the next 7 years.”
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The predicate action was carried out: Executive Order 13783 (March 28, 2017) and subsequent rollbacks directed agencies to lift regulatory burdens on domestic energy, and U.S. crude oil production set an annual record of 12.23 million barrels per day in 2019. The promised quantified benefits, however, are not corroborated: no official accounting attributes $100 billion in added annual GDP or $30 billion in wage gains to the deregulation, and oil and gas production employment declined - down nearly 20 percent from pre-pandemic levels by 2024 - rather than adding jobs on the promised 500,000 scale within the seven-year window (2016-2023).
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