Biden's idiotic energy polices deserve a rebuke by voters
Our nation is once again in a perpetual state of energy dependence. Twice now, the president of the United States has pleaded with the Organization of Petroleum Exporting Countries (OPEC) to come to the rescue of the American economy, and twice he has been snubbed. The most recent instance only confirms what everyone has known for nearly two years — the emperor has no clothes.
This week OPEC and its plus one Russia (OPEC+) announced they would curb production by 2 million barrels per day. This happened despite the Biden administration’s quid pro quo scheme to purchase OPEC barrels to refill the Strategic Petroleum Reserve (SPR) in exchange for a guarantee to not lower production. According to Goldman Sachs, we are likely to see oil prices return to $110 per barrel, and gasoline prices will likely return to $5-$6 a gallon nationally.
It’s understandable to see this announcement as a betrayal by OPEC, but the real betrayal is the Biden administration’s actions in weakening America’s energy independence and dominance. America should never be put in a position where our energy policy is dictated by foreign nations. Under our leadership in 2019, the U.S. achieved energy security when we became a net energy exporter for the first time in 67 years.
That all came to a grinding halt when the Biden administration took the reins of the American economy. Since day one, when American energy producers were struggling to come up for air from the devastation of the pandemic, the Biden administration tied cement blocks to their legs by canceling the Keystone XL pipeline, layering regulatory red tape, and empowering excessive litigation aimed at killing new energy infrastructure development — and he did it all while pointing the finger at American companies and accusing them of price-gouging and war profiteering.
American energy producers used to be the world’s largest swing producers — a mighty force able to counteract the price-fixing measures of foreign cartels like OPEC+. Today, however, the Biden administration prefers to fight fire with surrender.
Rather than correct his many mistakes in regulating American energy to the brink of extinction, the administration has fecklessly deployed its own price-fixing tools, flooding the market with America’s strategic oil reserves. And if 260 million barrels wasn’t enough, the Biden administration is now set to release another 10 million barrels next month — an announcement just in time for the U.S. midterm elections.
And where are we today? Although down from their summer peak, the price at the pump is still $1.49 higher than when Biden took office. That’s a 62% spike over what was on his first day. In fact, gasoline prices currently sit at nearly the same level as the period immediately before Putin invaded Ukraine. The inescapable logic is that global geopolitical turmoil is not the only reason for high prices. Biden’s strategy of foreign dependence is making America extremely vulnerable and threatening to drive the American economy off the cliff.
And high prices are not the only source of vulnerability for America. The SPR is at a near 40-year low, having been drained by the Biden administration by 34 percent. Moreover, this number doesn’t account for the total promised to be released by the administration. When all is said and done, the SPR will be at its lowest levels since 1983 — a total depletion of 42.5 percent.
Moreover, America’s stockpiles of transportation fuels like gasoline, diesel, jet fuel, and, of course, critical heating oils are also at record seasonal lows not seen since 1996. This doesn’t bode well for a nation that has lost over 1 million barrels of refining capacity under the Biden administration.
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Biden is more interested in the Big Green agenda than in US energy security and national security. Big Green is a big mistake when it comes to energy production. The belief that the US can survive on wind and solar energy and electric cars is absurd. Voters must reject any candidate who supports the Big Green agenda. It will only make things worse than fossil fuels ever would.
See, also:
NBC, CNN, ABC panels warn OPEC+ decision 'bad news for Democrats' ahead of midterms
OPEC+ recently announced they would be cutting oil production by 2 million barrels per day
The reason they are bad news for Democrats is their Big Green policies have made the US reliant on OPEC+ instead of its own energy production. It is truly an idiotic energy policy and American consumers are having to pay for the Democrats' irresponsible policies.
And:
Disappointed Biden searches for new gas price message as midterm elections loom
And:
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