On Sunday, Breitbart posted an article about the Biden administration’s reaction to the rapidly rising fuel prices. They are definitely not moving in the right direction.
The article reports:
The White House on Sunday rejected the argument that increasing domestic oil production would help lower gas prices, as the cost of oil moves toward record highs.
Crude oil prices rose as high as $130.50 a barrel on Sunday evening.
White House press secretary Jen Psaki released a set of talking points on social media, arguing against a focus on boosting oil production in the United States.
“It’s a reminder that real energy security comes from reducing our dependence on fossil fuels,” Psaki wrote, noting that Russia’s continued invasion of Ukraine was causing a spike in oil prices.
The U.S. Energy Information Administration website includes the following chart:
As you can see from the chart, gasoline prices began climbing as soon as President Biden won the election. As a candidate, President Biden made clear his intentions to limit America’s fossil fuel production. When he was elected, the oil futures market reacted. Oil is a commodity. When there is less of it, the price goes up. When America went from being energy independent to energy dependent, the price of fossil fuels was going to skyrocket. The war in Ukraine has not helped the situation, but it is not the root cause of the situation. The war in Ukraine will end probably in a few months. Unfortunately the Biden administration’s war on American energy will probably last his entire presidential term.
The article at Breitbart reports:
President Joe Biden’s administration is exploring diplomatic shifts with oil producing countries including Saudi Arabia, Venezuela, and Iran, as Russia’s latest Ukrainian offensive has disrupted oil markets.
But Psaki argued the only way to truly be free from high gas prices was to stop using oil.
“The only way to protect US over the long term is to become energy independent,” she wrote, pointing to Biden’s efforts on subsidizing wind and solar energy.
This is reckless, short-sighted, and dangerous to America.