It is the U.S. Government and the current administration. President Biden and his climate activist democrats have been out to dismantle the fossil fuel industry since they came to power – and they are succeeding. We’ll break it down…
Oil prices are determined by supply and demand in the market, not individual companies, and the price of crude oil is the biggest determinate of how much we pay at the pump. Oil markets are composed of speculators who are betting on price moves. Economic growth is one of the biggest factors affecting the petroleum market. The U.S. is not growing, it’s slowing. This is a big reason why crude oil prices are going up.
Certainly, COVID had something to do with slow growth but that was last year. The Russian invasion added fuel to the fire, but gas prices were going up long before that. This is why production is slowing in America…
President Joe Biden has made climate change a central issue of his administration and has vowed to replace fossil fuels with renewable energy. In a 2019 campaign speech he said to a climate activist: “Kiddo, I want you to look in my eyes. I guarantee you we are going to end fossil fuel.” This is one campaign promise Biden has kept.
On his first day in office, Biden started to do what he could to destroy the American fossil fuel industry. He killed the Keystone XL pipeline. He announced a moratorium on all leases at Arctic National Wildlife Refuge and a review of all permits. He halted leasing programs in ANWR. He issued a halt on all new oil and gas leases on federal lands and waters — accounting for 25% of U.S. oil production — and he directed federal agencies to eliminate all support for fossil fuels. Plus, he imposed new regulations on oil and gas and methane emissions.
He has threatened to jail oil executives. He placed a moratorium on new leases on federal land. He is slow-walking permit applications and is reviewing approved permits.
He is blocking Alaska drilling, and trying to prevent banks from lending to drillers, cancelling pipelines and threatening regulatory actions that would make their job even more difficult.
You can argue that the Green New Deal Radical Left are really pushing gas prices up, and President Biden is beholden to these radicals. This may be true, but he is the president, so he has to take the blame.
Senator Josh Hawley of Missouri said to Energy Secretary Jennifer Granholm recently, “In January 2021, the average gas price in my state was $2.07. Eight months later, long before Vladimir Putin invaded Ukraine, that price was up over 30% and it’s been going up consistently since. What are you doing to reverse this administration’s policies that are drawing down our own supply of energy in this country that are throttling oil and gas production in the United States?”
Representative Rick Crawford of Arkansas summed it up nicely. “If you want to help with gas, start using domestic energy production.”
Next time you have price shock at the pump, don’t blame Putin or Big Oil, blame Joe Biden. As his fellow Democrat Harry Truman said many years ago, “The buck stops here.”
Source: Edward Harmon Blame High Gas Prices on Biden Gainesville Sun 3/24/2022