The White House now claims Putin’s invasion of Ukraine is the singular cause of the current gas price crisis, but it is absolutely impossible to underestimate President Joe Biden’s costly impact on energy, and it has only grown worse as a result of the latest sanctions imposed on Russia.
Joe Biden himself recently exclaimed, «There’s not much I can do about it,» before turning and walking away from the press.
In 2019, Biden vigorously campaigned to shut down the oil industry if elected to the White House. On his first day in the Presidential office, anti-oil Biden began his assault on the energy sector with a quick, thoughtless pen-stroke.
Thousands of people lost well paying jobs instantly, and there have not been “green” jobs to replace them, as was promised — Similar to Obama’s promise of “shovel-ready” jobs, which never materialized as planned, despite massive spending increases.
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The Keystone XL pipeline is only one piece of a large puzzle relating to America’s massive oil price spike. While this branch of the pipeline is not yet completed, canceling it affects the future investment market, which contributes to fuel prices rising.
This pipeline extension would have allowed the U.S. to safely and cleanly import oil and natural gas from Canada, and would have likely been completed, but was halted first by Obama and now again by the anti-oil Biden administration.
The XL project was revived under the Trump Administration, however only reached approximately 10% completion until Joe Biden shut it down with an anti-capitalistic executive order.
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Canceling projects like this pipeline creates market disruption for investors and energy companies, which undeniably impact oil prices — this is fairly basic supply/demand economics.
In addition to shutting-down this efficient pipeline extension, the Biden administration has also shut-down leases on federal land, has encouraged Wall Street to divest away from oil into “green” energy, and has selectively placed individuals into the EPA, Department of Interior, and other regulatory agencies who are very outwardly anti-oil.
They have recently denied new federal and off-shore drilling leases, and dozens of other overreaching regulations. This administration is doing everything they can to regulate the oil industry out of existence permanently.
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Biden campaigned on the promise that he would go after the oil industry and shut it down, so really, no one should be surprised.
It is the only thing he has accomplished thus far, to the detriment of all Americans — Other than perhaps the Biden Family and their wealthy political and business associates.
During a 2019 presidential campaign debate, Trump asked Biden,
“Would you close down the oil industry?”
“I would transition from the oil industry, yes,” Biden responded.
“That’s a big statement,” Trump shot back.
Biden retorted,
“I’d stop giving to the oil industry — I’d stop giving them federal subsidies.»
On March 10, 2022, President of the Domestic Energy Producers Alliance, Jerry Simmons, told NTB Business,
“When you make these statements about an industry and, as the president, the incoming president, then you kind of set the stage.”
Simmons added that the rhetoric about fossil fuels further curtails investors’ willingness to put money into the oil market, and pointed out that Biden’s regulations are key to rising energy prices.
Simmons continued,
“Again the Biden administration has put up roadblocks to infrastructure since coming into office. Three regulations, the Federal Energy Regulatory Commission that permits pipelines, they’ve got new regulations now that require some assessments that never had been required before, so those kinds of things have hampered our efforts to ramp up production.”
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Now, rather than the possibility of being oil independent once again as we were under the Trump administration, Biden is trying to convince dangerous authoritarian dictators to sell us oil.
Biden has so far begged Saudi Arabia, Iran & Venezuela to sell us oil, but doing so would directly enrich our global enemies.
Economists predict crude oil would drop at least $20 per barrel overnight just by opening up possibilities of higher production in the U.S., and prices would continue to quickly decrease as drilling and pipeline projects open up.
Removing federal and state gasoline tax regulations would also significantly reduce fuel prices for consumers instantly, but that potential has not yet been put on the table for discussion.
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There is absolutely no denying the Biden administration’s clear and direct impact on the oil commodity market and consumer fuel prices. Anyone saying otherwise is doing so for political reasons.
It is insane for Biden to consider empowering our global enemies led by totalitarian dictators, by funneling U.S. money into their economies and fuel industries, while refusing to take advantage of our own oil prospects on North American soil and become independent once again.
The Biden Administration is trying to exploit American citizens, and they are hoping we are dumb enough to fall for their obviously false narratives.
Joe Biden’s poll numbers can’t get much lower — but if they do, that may be the only thing to reverse his poor decision making.
So while the XL pipeline may only be one small piece of the puzzle, there are many other pieces that cannot be ignored, and they stack-up to a much bigger picture that details Biden’s direct role in the current oil-price crisis.
Fuete: Right Tand Free