President Joe Biden’s plan for release One million barrels of oil a day from the nation’s reserves for the next six months is just another band-aid for a crisis that he is largely of his own making. He can make no fundamental difference unless he ends his crusade against US energy production once and for all.
“We need more oil stocks now,” the president said on Thursday. Fountain, moron. But US oil companies are reluctant to ramp up production amid Biden’s campaign to kill their industry.
Think about Biden’s efforts to border oil and gas supply Day 1 onwards: In his first hour, he destroyed the Keystone Pipeline, which would have carried almost as much oil as he now plans to plunder from the nation’s strategic petroleum reserve. He has canceled or postponed state and offshore leases and suspended drilling at the Arctic National Wildlife Refuge.
His government has aggressively invoked environmental and wildlife laws to ban drilling even longer Private Country. And she’s trying to stop banks and others from doing it financing new projects, whether drilling or transportation (including pipelines and new natural gas liquefaction plants for shipping).
Even as he unveiled his plan Thursday to tap the SPR (for nearly a third of its oil), Biden also warned that “we need to reduce our overall reliance on fossil fuels.”
All of this makes investors and lenders nervous about pouring money into expanding production just as Biden and the green extremists intend.
(It also doesn’t help that the pandemic has dealt a major blow to oil and gas companies more than 100 go bankrupt in 2020 alone, and who knows what Team Joe will do if there’s another outbreak?)
No matter what Biden does now says he wants. Rising prices will be a big campaign issue and he is desperate to evade responsibility. Heck, the White House is now officially calling the problem “Putin’s price hike.”
Yes, Russia’s war made it worse. But Biden’s own war on oil and gas sent prices skyrocketing long before the invasion and still limits the nation’s ability to replace lost fuel.
If the Prez really wanted oil producers to ramp up production, he wouldn’t slam them as greedily as he did again Thursday, but rather convince them — with actions, not words — that it’s safe to go again expand. Stop looking for scapegoats and look in the mirror.
https://nypost.com/2022/03/31/bidens-latest-gas-price-band-aid-is-barely-even-gaslighting/ Biden’s latest gas price patch is hardly gaslighting anymore