As Biden and his spokespeople shift blame for high gas prices to Russia, people will hopefully remember why that is not true. Obviously, our oil and gas problems will continue to worsen as the war continues, but we got to this place of record-high inflation as the result of Biden’s policies.
Biden told us he was going to kill the fossil fuel industry during the primary debates.
“No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends.”
In essence, he declared war on oil and people voted for him anyway. The people who backed him are the same people who tried to put EXXON/Mobil executives in prison over trumped-up charges. The Left tried to get RICO charges leveled against the executives on the false notion that they knew they were endangering the climate. In 2015, Hillary was pushing for RICO charges and called for the Justice Department to investigate. Watch as Biden makes the comment during the debate:
Joe Biden in 2020: “No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends.” pic.twitter.com/90MVJevPmv
— Dan O’Donnell (@DanODonnellShow) March 8, 2022
In order to kill the industry, Biden pressured investors to steer clear of fossil fuels. When a president tells corporations it’s wise not to invest in certain stocks, and you see ESG coming into the stock market — if you’re running a corporation, you listen.
Biden vowed in July 2020 to end shareholder capitalism and, at the same time, called for net-zero emissions.
Biden has put onerous regulations on the industry to shut them down. For example, he stopped offshore leases and drilling on public lands.
His entire posture is to quickly destroy the fossil fuel industry with nothing to replace it. Last week, he extended an executive order declaring Venezuela a threat to U.S. security. This week, Joe Biden is begging Venezuela to produce more oil.
Oddly, to say the least, Biden requested $2.6 billion for “gender equity” globally yesterday. As he causes American energy prices to increase wildly, he is wasting billions on nonsense. Then he has the audacity to think Americans are stupid as he blames the Russian oil imports for high gas prices. The prices were high before the ban.
Remarkably, Biden also noted that American oil producers produced more oil in his first year than in Trump’s first year.
That was a clear case of legerdemain. Trump inherited the anemic oil policies of the Obama administration and got the oil flowing again on- and offshore. In the years following his first year in office, as he shed Obama policies, Trump saw far more oil produced than Biden’s first year. Biden was counting what Trump left behind as his own success. In truth, oil production began to fall once Biden got in office. We are no longer self-sufficient or exporting the oil and gas that Europe could use right now.
Oil hit $147.90 on July 14, 2008. That‘s the record so far, although many predict it will go up to $185 a barrel and Putin sees it going to $300. On July 15, 2008, the price began to plunge and hit $30 a barrel by week’s end.
The oil market, which is a futures market, responded to then-President George W. Bush announcing he was authorizing offshore oil exploration.
It sent prices down. It would again if Biden would do the same.
The United States now has larger oil reserves than either Russia or Saudi Arabia, but Biden plans to waste it to make it seem as if the situation isn’t as dire as it is. He won’t deal with the core issue because he is at war with fossil fuels to satisfy a bloodthirsty mob of communists in the Democrat Party who helped get him elected.
His only answer, as we heard from Pete Buttigieg and Kamala Harris is electric cars. It’s another effort to discourage investments in oil and gas while driving up costs for Americans. Never mind that electric cars don’t work all that efficiently in the cold and there aren’t enough stations (fueled by fossil fuels) to charge these very expensive cars.
Biden is destroying the middle class and the luxuries they’ve learned to enjoy. Banning Russian oil was a good thing but not doing it in conjunction with opening the U.S. spigot was a bad thing. Having us rely on people who hate us like Venezuela and Iran is insane and stupid. It’s malfeasance. He’s bowing to the elite — the wealthy and powerful who are caught up in the latest pie-in-the-sky experiment.
The left-wing media won’t allow Biden to develop fossil fuels and he is also beholden to them. These are people who make a great deal of money and can afford the high gas prices and the expensive cars. They will still be able to heat their many homes. We are at their mercy. We are the peasants.
All of the problems we are experiencing today are Joe Biden’s fault, every bit of them, not Russia’s.