Biden energy policy goes from bad to worse

 Washington Examiner:

President Joe Biden will release nearly one-third of the Strategic Petroleum Reserve over the next six months to combat rising gas prices and inflation in the face of Russia's war in Ukraine.

The Biden administration has sought to cast historic 7.9% inflation, specifically the rise in prices at the gas pump, as the "Putin price hike," but energy prices had already spiked 3.5% in February prior to the invasion after rising steadily for the previous year.

...

Biden will also call on Congress to pass legislation enacting what officials referred to as "use it or lose it" fines for domestic oil companies. The fines would tax companies on "wells from their leases that [oil companies] haven't used in years and on acres of public lands that they are hoarding without producing."

Furthermore, Biden will invoke the Domestic Production Act to "secure American production of critical materials to bolster our clean energy economy," a direct effort to advance the administration's green energy goals while quickly moving the United States away from dependence on Chinese mineral procurement.

...

Prices were rising because Biden limited the supply and reduced transportation by blocking pipelines. Before Biden limited the supply the US was not buying energy from Russia so his claim that Putin is driving up the price is also bogus.  Rather than increase production by taking the restrictions off he is wasting the strategic petroleum reserve to try to drive down the price.  It is a dumb and dumber scenario. 

The restriction on US drilling was the major factor along with out-of-control spending for increased inflation.  The proposed "use it or lose" fines are also ridiculous.  As the industry has made clear the real bottleneck is Biden's resistance to drilling permits on leases the industry thinks will be productive.  Biden is setting new records in the mishandling of energy.

See, also:

Pelosi Remarks on Gas Prices Show Dems Planning More Pain for Americans

And: 

IS BIDEN PANICKING?

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