Americans have endured record inflation in recent months, partially caused by skyrocketing energy costs. The Biden administration has been quick to take credit when gasoline prices have decreased slightly, but has consistently avoided taking responsibility for the role they have played in the increases in both gasoline and diesel prices. On Monday, Hot Air posted an article about the diesel fuel shortage.
The article reports:
During recent public appearances, President Joe Biden has continued to complain about energy prices as well as the potentially catastrophic shortage of diesel that has been forecast to hit the United States soon, particularly in the northeast. Of course, he never takes the blame for any of this himself. He instead tries to blame the “greedy” energy companies or, of course, Vladimir Putin. He has called for bans on oil and gas exports and even suggested a mandate that diesel stocks be maintained at a higher level. But a new report from the Institute for Energy Research addresses the actual root of these problems. What we’re facing is a significant loss in refinery capacity in the United States and its various territories. We’ve lost more than a million barrels per day in production capacity, but rather than working to rebuild that capacity, the White House is issuing new edicts that will result in diminishing it further.
…Banning petroleum exports (which are already at severely low levels) would only cut off markets, making the American oil and gas industry even less profitable, thereby disincentivizing any efforts to expand capacity. And as for an executive order directing a specific amount of diesel to be kept in stock, well… that’s simply insane. You can’t order more diesel to magically appear with a few scribbles of a pen. Someone has to produce the required oil, move it to a refinery, and create the diesel.
The article concludes:
Energy prices – including diesel – continue to rise and stockpiles continue to fall. We’re talking about a situation where people could literally wind up freezing to death over the course of the winter. There are steps the federal government could be taking to stave off such an outcome and improve the situation. But thus far, the Biden administration is doing the exact opposite. Some of you may want to start stockpiling blankets at this point. You might wind up needing them.
Bad policies have consequences. We are desperately in need of competent people in Washington.