Biden’s Oil Crisis

The day he was installed, Biden signed an executive order to block the Keystone XL pipeline, wiping out thousands of jobs and declaring war on the U.S. energy industry. He’s also  banned new oil and gas development on public land. But he helped the Russians with Nord Stream. He’s subsidizing the Russian war effort in Ukraine.  And after all that money his family made from Burisma.

The motherfucker really hates America.

From various media:

Forbes

……Instead of calling on American companies to invest in domestic production and put U.S. workers back in the field, though, the Biden White House chose to press the Organization of Petroleum Exporting Countries (OPEC) and Russia to increase global output.

Biden also trotted out the old Democratic trope about “price gouging” by unscrupulous gas station owners in response to rising energy prices, as if consumers aren’t able to drive down the block to a competing station if they don’t like the price.

Democrats have been blaming the free market for decades because they refuse to accept that profligate federal spending is harmful to the economy. Biden has no business calling on OPEC and Russia to increase oil supplies when he is actively curbing U.S. production through his dedication to rebuilding the regulatory state that former President Trump tried to dismantle.

Is Biden seriously arguing that oil from the Middle East or Russia is somehow better than oil produced in the Permian or other U.S. basins? The United States is blessed with some of the largest oil reserves in the world. Those natural resources create high-paying jobs for Americans, ensure our national security, and provide Washington greater flexibility in foreign policy. The former destroys jobs, curbs economic growth, and makes America beholden to the Middle East and Moscow autocrats.

……Biden is trying to have it both ways. He wants to crack down on the traditional U.S. energy sector and promote burdensome new environmental regulations while keeping prices low for consumers. But the law of supply and demand doesn’t work that way.

Voters understand this and will see Biden’s latest protests for what they are – a desperate attempt of a floundering administration to shift blame away from its own policies. Biden owns the decisions he’s made since entering the White House eight months ago, including canceling the Keystone XL pipeline, prohibiting new oil and gas leasing on federal land and waters, and reversing the opening of the Arctic National Wildlife Reserve (ANWR) to exploration.

Begging is one thing. Bullying is another. Biden’s directive to the Federal Trade Commission (FTC) to investigate oil companies for high gasoline prices at the pump borders on intimidation. Similar investigations have been called before in the past and routinely come up empty.

If Biden wants to blame someone for the 40 percent increase in retail gasoline prices — which are now at seven-year highs — he need only to look in the mirror. His anti-oil agenda spooked investors wary of increasing investment in the domestic oil sector because of the White House’s aggressive regulatory agenda.

Bobby Jindal

……Biden’s progressive financial regulators are poised to do even more damage to America’s economy by discouraging energy investment and politicizing capital allocation. They have promised to scrutinize loans to oil and gas companies, imposing tests on how investments could be threatened by climate change, rather than allowing the banks to assess their risks themselves. Biden has nominated Sarah Raskin, who has called fossil fuels “a terrible investment” and wants to use the regulatory system to move away from “high-emission” investments, to the position of vice chair for supervision at the Federal Reserve System. SEC chairman Gary Gensler will require public companies to make more climate disclosures, signaling to investors to be wary. Secretary Yellen and other officials have warned climate change could endanger both banks and the broader financial system. Democrats have previously wanted to use regulatory agencies to go beyond ensuring financial stability to attack industries like payday lenders and gun sellers. Letting financial regulators expand their mandate to include picking winners and losers will make it harder and more expensive for oil and gas companies to obtain financing.

Instead of backtracking on his domestic energy fuckup, he tried to call Islamofascist nation states like Saudi Arabia and the UAE to beg for more oil production, but they refused to speak with him.

This is how the Biden regime fucks with the oil industry and tries to blame them for the problem:

Industry groups have accused the White House of misleading the public on leases, arguing that not all leases contain oil or natural gas, drilling requires sizable private investment and further permitting is required before a company can begin extracting resources from the ground.

……“The federal permit to drill is not the only government approval required. Rights of way (ROW) must be acquired to access the lease and for natural gas gathering systems,” Western Energy Alliance President Kathleen Sgamma wrote in a blog last week. “ROWs can take years to acquire. With the pressure not to flare from regulators and investors, most companies cannot drill before the gathering lines are in place.”

The Washington State Department of Natural Resources, for example, lists a dozen permits and requirements companies must obtain before drilling on a lease on its website.

Meanwhile, the Biden administration has implemented new regulatory hurdles for domestic fossil fuel production over the last 14 months. The White House has also signaled it won’t renew the five-year off-shore lease program that is crucial for domestic energy production and ensuring continued drilling in the oil-rich Gulf of Mexico, The Washington Post reported.

 

This is what should be done to reverse Biden’s damage:

Scrap the oppressive federal regs.

Encourage domestic production.

Allow increased fracking.

Repeal the gas tax.

Open up drilling of the vast oil resources in Alaska.

 

 

 

It’s only going to get worse.

 

Related article:

https://www.foxnews.com/opinion/russia-ukraine-biden-energy-foreign-policy-putin-kristi-noem

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