This Is Just Wrong

On July 5th, The U,K. Daily Mail reported that President Biden shipped five million barrels of oil from the United States’ Strategic Oil Reserve to Europe and Asia. The President told the American people that the oil was being released to help bring down the price of gasoline at the pump and thus ease expenses for Americans. Evidently, that was not the whole story.

The article reports:

The president faces accusations of a sneaky sleight of hand as it was revealed that between a fifth and a sixth of the reserve oil he bragged about releasing to boost supply made its way offshore to Europe and Asia in June.

Biden authorized the release of a million barrels a day from April onwards. But his action has done little to combat soaring gas prices, with the national average sitting at $4.74 as of Tuesday – still far above the $2.28-a-gallon average from just before he took office. 

Biden’s announcement about releasing the oil barrels was made in April, and saw him say: ‘These releases will put more than one million barrels per day on the market over the next six months, and will help address supply disruptions caused by Putin’s further invasion of Ukraine and the Price Hike that Americans are facing at the pump.’

But it has had little effect, with a closer look at the press release revealing that the oil released from the strategic reserve was always destined for the highest bidder – even if they were overseas.

That is due to strict international rules dictating the sale and supply of oil – although a regular American who listened to Biden’s proclamation in passing would likely have believed that the increase in supply would have been destined for domestic refineries, to lower US prices. 

‘Crude and fuel prices would likely be higher if (the SPR releases) hadn’t happened, but at the same time, it isn’t really having the effect that was assumed,’ said Matt Smith, lead oil analyst at Kpler.

Government officials continue to defend Biden, and claim domestic gas prices would be even higher were it not for his release.  

The release of oil from the Strategic Oil Reserve is at best a temporary fix. America was energy independent when President Biden took office and inflation was under control. The amount of money from American energy that was flowing into the tax coffers of America was also helping offset some of the out-of-control spending. The simplest way to deal with inflation and help middle-class Americans cope with rising prices would be to open up American energy development quickly. Unfortunately, as long as the Democrats control Congress and the White House, that will not happen. If Republicans take Congress in 2022, the noose around the American energy sector might be loosened, but it will take a Republican President in 2024 to bring us back to economic stability. Meanwhile, expect gimmicks before the mid-term election to try to drop the price of gasoline, but understand that as soon as the election is over, the President will go back to limiting American energy unless a Republican Congress is in place to stop him.

The Price We Are Paying At The Gas Pump

The year 2020 was a good year for American drivers. According to the U.S. Energy Information Administration, the price of a gallon of gasoline at the pump was $2.64 in January 2020, dropped to $1.94 in April, and ended the year at $2.29. The website lists the current cost of a gallon of gasoline at $3.50. That’s a $12 increase in cost every time I put 10 gallons of gasoline in my car. If you are commuting to work, that adds up fast. So how does the Biden administration feel about this significant increase in the cost of gasoline? The Epoch Times posted an article today that answers that question.

The article reports:

When he announced last week that he would release more oil from the American Strategic Petroleum Reserve, President Joe Biden told the American people he is doing everything possible to bring down gas prices at the pump.

That’s a lie. This administration and the climate change crazies have declared war on American energy.

They want high oil and gas prices. The Biden master plan is for American oil and gas production and consumption to go to zero over the next 15 to 20 years. How do you achieve that goal? By making oil and gas so expensive and so unavailable that Americans are forced to use alternatives.

In other words, the fact that gasoline is roughly $1.25 more expensive per gallon today under Biden than it was a year ago under former President Donald Trump didn’t happen by accident. This was not a result of a natural disaster, such as a hurricane, that could knock out our oil facilities. This was by design.

The left believes that they can change the temperature of the planet by forcing American energy companies to produce less oil and to force Americans to use less of it. How do you get people to buy less of something? You raise its price. This is basic high-school introductory economics.

The article concludes:

Texas Gov. Greg Abbott said it well in August that Texas “can easily produce that oil” if Biden “will just stay out of the way.”

He won’t.

The Biden administration strategy is to force-feed the American economy expensive, unreliable, and made-in-China wind and solar energy. His $3 trillion Build Back Better bill would dole out more than $500 billion of taxpayer dollars to the wind, solar, and electric vehicle industry to break the back of oil and gas production. If this energy source is so efficient, why does it need a half trillion dollars of your and my money?

Meanwhile, nearly every Biden policy has been deliberately aimed at killing U.S. oil and gas production—from killing the Keystone XL pipeline to trying to shut down other existing natural gas pipelines in the Midwest (Home heating costs are going way up this winter.) to shutting down much of Alaska oil production to new Environmental Protection Agency rules making it very difficult and expensive to drill here in America. He is also preventing the mining of American coal, which is still one of the dominant sources of electric power around the world. He also wants to raise taxes on the oil and gas industry.

Now, let’s be honest. Do any of these policies suggest that Biden and his liberal friends in the green-energy movement want to keep oil and gas prices low? If you answer yes to that, you probably believe that Al Gore invented the internet.

Elections have consequences.