This headline from CNN Business from late 2021 summarizes the impact of Joe Biden’s anti-fossil fuel energy policies:
“Even though US oil prices have surged by more than 65% this year, US oil production is about 14% below the levels of the end of 2019”
Now the world oil price is ranging between $80 and $90 a barrel (which, with taxes included, is the equivalent of close to $4.00 a gallon at the pump) and the Biden response is to take huge swaths of oil-rich lands in Alaska OFF production.
Meanwhile, natural gas prices, which had averaged about $2 per million BTUs under Trump are now averaging $5 per million BTUs in recent months under Biden – and the futures markets are saying these surging prices will stay high for many months ahead before abating. Good thing, we stopped building pipelines!
Quiz question: What one person in the world has been the biggest beneficiary of the Biden war on American energy? Vladimir Putin. Where is Russia getting the money for those tanks that are ready to roll into the Ukraine? From oil and gas revenues. Russia is a third world country with one asset: energy.
Joe Biden is not just ruining the U.S. economy, he is a threat to our and the world’s national security.