Joe Biden is desperate and worried about the midterm elections. One of his attempts to improve his image is around the soaring prices of gasoline.
He wants to bring those gas prices down so he can nab more votes. Though he also wants to force his Green New Deal on us.
What a dilemma! In order to try to bridge this divide, Biden and his cronies have been pressuring the US oil industry to lower prices as soon as possible.
They’ve responded clearly to him that he’s created this harsh environment for the industry and things are only getting worse by the day.
Blaming the Usual Suspects
It’s already becoming somewhat commonplace to blame gas prices on greedy oil companies and Vladimir Putin. This suits Biden just fine, since it lets him dodge blame.
Though let’s face it: we know all this is just lies. The real culprit is the one who points the finger. The point to be noted here is that US refineries are insufficient to produce more oil right now and lower prices.
Part of the reason is Biden’s ban on drilling on federal land and intentional refusal of new permits to refineries. Yet, he wants them to take huge cuts to their profits for patriotism?
This week, industry analyst S&P Global Commodity Insights reported that refineries are already working at their full capacity.
Given that many other refineries are no longer operating, due to storms and incidents, this makes Biden’s request impossible.
Pres. Biden said “We need more refining capacity.” But, Biden is the oil industry’s biggest threat. Indeed, a hallmark of the Biden administration is its multiple attempts to deep six the US oil & gas industry. Take a listen:pic.twitter.com/D9Y8VukhYK
— Steve Hanke (@steve_hanke) June 26, 2022
Passing the Buck, As Usual
Let’s face it, the role of improving the economy is not that of US oil producers, but of the country’s rulers and economic decision-makers. The reopening of closed refineries would be a very high cost and would take a long time.
The Biden regime has neither time nor money to try to get out of the mess they themselves made. Not to mention that gas and oil are fossil fuels have become scarcer over the years.
The oil and gas industry has been harangued by numerous blue states that imposed high taxes that raised costs. This hits us all right in the pockets.
It is up to the government to recognize its flaws. Encouraging production of electric and hybrid cars has contributed negatively to the image and production of oil and gas producers.
Currently, less than 7% of the total car fleet in the US is of the ‘green’ generation. Yet, Biden continues to be obsessed with it.
In May 2022, there were
– 54,700 solar jobs in the US; average wage = $23/hour
– 137,400 oil industry jobs; average wage = $45/hour.
— Steve Milloy (@JunkScience) June 30, 2022
The Bottom Line
Even with a magic trick, Biden could not reverse the current situation. His decisions have made a bad global situation 100 times worse. Now, he wants to blame oil companies and foreign dictators.
The American people are no longer buying a word of it.