Economy

Gas and Oil: Anywhere But Here

The Babylon Bee offers a modest proposal that makes sense: “Biden Sells Alaska Back To Russia So We Can Start Drilling For Oil There Again.”

posted by Michael G Sabbeth, Esq. - 3.11.22

The opinions expressed by columnists are their own and do not necessarily represent the views of Hannity.com

A post on powerlineblog.com argues the Biden administration’s energy policies are not coherent. “The administration, from its first day in office, moved aggressively to suppress fossil fuel production in the U.S. The inevitable result has been a sharp rise in the prices of oil and gas. Having caused the problem, the administration has now set out to remedy it by buying gas and oil wherever it can be found–from Russia, notwithstanding the Ukraine invasion; from Saudi Arabia; and most recently from Venezuela and even Iran.”

A logic exists illuminating the creation and acceptance of higher oil prices. Vice President Kamala Harris explained that $4 a gallon gas is part of a grand plan to “transition” transportation–a plan that has now reached a “turning point.” “Transition” means abandoning fossil fuels and using so-called ‘clean energy,’ wind and solar, but not nuclear power. Powerline declaims: “As always, the Democrats want expensive gas but don’t want to take political responsibility for expensive gas.”

The American people, on the other hand, are not conflicted about $4 a gallon gasoline. They want the price to come down, and they understand, at a basic level, the law of supply and demand. Thus, Rasmussen finds that a whopping 70% of likely voters want “the U.S. government [to] encourage increased oil and gas production to reduce America’s dependence on foreign sources of oil and gas,” with only 18 percent opposed. That is, only 18% of likely voters agree with the Biden administration’s energy policies, to the extent they can intelligibly be described.

Another thing the voters are right about: 88 percent say “energy policy will be important in this year’s congressional elections, including 60% who say it will be Very Important.” That spells trouble for the Democrats.

A post on Instapundit averred that when President Biden took office, the national average price of regular gas was $2.38 per gallon. Now it is $4.25, a 79% increase. This result is consistent with Biden’s presidential campaign rhetoric. “No more drilling including offshore,”  Biden said during a 2020 primary debate. “No ability for the oil industry to continue to drill, period. It ends.”

“Hard to believe,” the Istapundit post continues, “that prior to 2021, “the United States was a net exporter of oil and natural gas. When operating at capacity – which requires the cooperation of the government on a number of fronts – we have more than enough fuel to meet all of our needs. We’re just not doing what needs to be done to get it to all of the places where it’s needed. So yes, Joe Biden has significant (though not complete) control over energy prices.”

Oil output peaked during Trump’s term, in December 2019, at 13,100 thousand barrels/day. That number fell off sharply due to decline in demand related to Covid 19, falling to a low of 9700 thousand barrels/day by August 2020. Output has not yet returned to the pre-pandemic peak of Dec 2019, in part due to the continued lower demand resulting from the pandemic, but more significantly due to actions taken by the Biden administration.

The Babylon Bee offers a modest proposal that makes sense: “Biden Sells Alaska Back To Russia So We Can Start Drilling For Oil There Again.”

Thank you for visiting Hannity.com. You are about to leave
Hannity.com and proceed to a site owned and operated by a third party.
Hannity.com has no control over the content of this third-party site.
Click OK to proceed.
OK
X
You may if you would no longer like to receive a newsletter.
You have been successfully unsubscribed!
Please see our Terms of Use and Privacy Notice .
If you have any questions or concerns please contact us.