US democrats again vote against American oil production

[ok doser]

These twenty-five Biden administration policies are raising energy costs​

DEC 4, 2021 BY ABIGALE TARDIF
Updated on March 7, 2022

The national average for a gallon of gas for Americans has risen to $4.065, 45 cents higher than just last week.

As Americans return to work, plan spring break and summer vacations they are faced with rising gas prices. (Not to mention higher costs for electricity, home heating, and groceries!!)

The price at the pump and for home expenses began to rise before the Russian invasion of Ukraine. At the end of 2021, President Joe Biden announced the U.S. Department of Energy will release 50 million barrels of crude oil from the Strategic Petroleum Reserve.

Energy experts told PBS interviewers that tapping the SPR won’t drive down gas prices. The decision was little more than “a drop in the ocean” when it comes to energy policy, one person said.

The decision also won’t counteract Biden administration policies that have caused rising energy costs — and that will continue to drive prices higher in the future.

Here are 25 decisions the president has made over the last year that have affected gas prices, home heating costs, and other energy-related burdens U.S. families and businesses face.

#1 and 2: Adopting new EPA oil and gas rules​

In November 2021, the Environmental Protection Agency announced new regulations governing methane emissions from oil and gas production, transmission, storage, and distribution that would cost more than $1 billion a year.

Last spring, Biden signed a resolution that overturned Trump administration reforms to EPA oil and gas rules. This resolution will worsen energy poverty, reestablish burdensome regulations, and have a disproportionate impact on small businesses.

#3, #4, #5, #6, #7, and #8: Restricting or impeding energy projects​

One of Biden’s first actions after taking office was to halt new oil and gas leases on federal lands and waters, the Biden administration has delayed decisions on these leases — a move that results in higher energy costs for the most vulnerable consumers.

The administration canceled the Keystone XL pipeline and suspended oil and gas leases in the Arctic National Wildlife Refuge and New Mexico (despite opposition from the Navajo Nation). It also resurrected the “Waters of the United States” rule, which would increase barriers to energy projects.

The White House is pursuing new standards for particulate matter and ozone, likely tightening them to unachievable levels for much of the country and creating new barriers for energy project permits.

The president also has rescinded Endangered Species Act reforms, a move that will increase red tape and allow litigation to slow down energy projects.

#9: Rejoining the Paris agreement​

In April 2021, without the consent of Congress, Biden rejoined the Paris agreement, which will result in onerous new regulations that could raise energy costs.

#10: Appointing unaccountable energy regulators​

The president has created several bodies within the White House charged with creating new policies to regulate energy. The people who run these councils are unelected and do not need Senate confirmation, but they have been given broad powers to come up with new executive actions — which do not need consent from Congress — to regulate U.S. energy production.

#11: Forcing states to restrict driving​

One section of the recently enacted Infrastructure Investment and Jobs Act, supported by the White House, would require every U.S. state to develop state carbon-reduction plans that must be approved by the U.S. Department of Transportation as well as be updated every four years.

These plans are aimed at reducing driving all over the country — even for people in rural areas where public transportation is limited, and driving is the only option.

#12, #13, and #14: Raising the prices of cars and trucks​

The Biden administration has failed to take adequate action on annual requirements and small refinery waivers for the Renewable Fuel Standard and in providing regulatory relief from this biofuel mandate due to economic hardship. His EPA has finalized a new rule regulating greenhouse gas emissions from cars and trucks. That single regulation could raise the average vehicle price by $1,000.

#15: Instituting a new policy on carbon taxes in organized wholesale electricity markets​

This carbon pricing policy statement, issued by the Federal Energy Regulatory Commission in April 2021, is a blanket endorsement of top-down policies that have been demonstrated to be costly, ineffective, regressive, and consistently rejected by the American people.

#16: Raising the prices of common household necessities​

The EPA has issued a final rule to phase out a common, inexpensive refrigerant. This policy is a de facto tax on air conditioning and refrigeration.

#17: Stifling energy innovation​

In May 2021, Biden issued a sweeping executive order that mobilized federal agencies, including the Securities and Exchange Commission, to enforce mandates on businesses, insurers, retirement funds, and suppliers. These policies will stifle innovation critical to improving the environment and will increase costs for a wide variety of businesses.

#18: Altering regulatory cost analyses​

The Biden administration has changed key inputs for economic and regulatory analysis, including raising the “social cost” of greenhouse gases. These policies will mask the true consumer cost of regulatory actions.

#19 and #20: Imposing new costs on power generation​

The administration attempted to resurrect an aggressive version of the Clean Power Plan for power sector mandates called the Clean Electricity Standard.

In the Fall 2021 Unified Agenda, the EPA stated their intention to propose what can be considered the Clean Power Plan 2.0. This policy would impose burdensome regulations but would have little or no environmental benefit.

The EPA also has mandated that even facilities with reduced emissions must remain on the list of “major” sources, subjecting these facilities to permitting burdens and higher costs.

#21: Impeding Americans exports​

The administration is considering potential restrictions on the export of crude oil that would increase, not decrease, energy prices.

#22 and #23: Raising taxes​

More than one-quarter of the administration-backed Build Back Better agenda is pulled directly from the “Green New Deal.” The Build Back Better agenda includes new taxes on natural gas and home heating. It also includes new taxes on petroleum and manufacturing.

#24: Picking energy winners and losers

The Build Back Better agenda would spend taxpayer dollars to push utilities to adopt more costly, politically preferred forms of energy, a move that would reduce Americans’ energy choices.

#25: Fueling the fire for future regulation​

Finally, through the Civilian Climate Corps, Build Back Better would fund the salaries of tens of thousands of anti-energy activists who would perpetuate high energy costs by demanding new and costly federal regulations and legislation.

Unlike releasing oil from the Strategic Petroleum Reserve, these 25 steps are not just a “drop in the ocean.”

They have made, and will continue to make, a significant impact on Americans’ ability to afford the energy products that fuel their lives and livelihoods.

25 Biden policies raising gas prices and other energy costs - Americans for Prosperity

These twenty-five Biden administration policies are affecting gas prices, home heating costs, and other energy-related burdens families face. Read more.

americansforprosperity.org

 

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[ok doser]

Abbott says Biden blocking Texas from providing natural gas to fix Europe energy crisis​

Texas Gov. Greg Abbott criticized the Biden administration's regulatory policies and argued it is holding back his state's vast energy sector from providing natural gas to alleviate Europe's price pain.

Abbott, who is up for reelection this year, said natural gas liquefied and then shipped from Texas ports could be of special help to European allies who are facing steep energy prices across the board amid doubts about supplies from Russia as it invades Ukraine. He specifically knocked the Biden administration for moving too slowly in approving new gas infrastructure to enable more growth.

"The only things that they have done that hinders the ability for Texas to get energy out to whether it be the country or the world is slowing the permitting process on things like [liquefied natural gas]," Abbott told the Washington Examiner.

Total interstate gas pipeline capacity additions decreased in 2021, and added capacity fell to its lowest since 2016, according to the Energy Information Administration.

The Federal Energy Regulatory Commission, responsible for approving interstate energy infrastructure projects, also just introduced new regulations to more strictly consider a prospective project's effects on the environment and local populations in determining whether it is in the public interest. The new policy statements have been slammed by Republicans and Democratic Sen. Joe Manchin, who say they introduce more uncertainty for investors and raise prices.

The United States, which in December surpassed top competitors Qatar and Australia to become the world's leading LNG exporter, currently has eight operative LNG export terminals. The bulk of these are located on the Gulf Coast.

Another 14 export projects were approved but not yet under construction, while six were proposed but not approved as of Feb. 17, according to numbers provided by the Federal Energy Regulatory Commission.

"Maybe one of the primary reasons why the war is occurring between Russia and Ukraine is because Russia had the entire European region tied to Russia for energy," Abbott said, noting Texas could change that with quicker project approvals

Abbott also said officials in his state have met with counterparts in the European Union about increasing oil and gas exports to the region as it plots a breakup with Russian fossil fuels.

"We are in visits with people in the EU region about their need to be receiving [liquefied natural gas] from Texas," he said. "We need to wean the EU off of Russian energy; that energy should be from Texas."

In the lead-up to the Russia-Ukraine war, President Joe Biden and European leaders emphasized the EU should work to dissolve its entrenched relationship with Russian energy sources. That campaign has only picked up momentum since Russian troops invaded and spiked natural gas prices briefly to more than 20 times the U.S. benchmark.

Many lawmakers of both parties, the domestic oil and gas industry, and other conservative policy groups also make the same case that U.S. fossil fuels should be expanded to replace Russian ones in the global market.

Meanwhile, Republicans have taken special aim at the Biden administration's energy policies for standing in the way of that, also implicating its restrictions on new leasing of federal lands for oil and gas development and FERC's new policies as being responsible for inhibiting price relief.

For example, Sen. Bill Cassidy of Louisiana, the site of two of the country's largest LNG export terminals, has been promoting an "Operation Warp Speed" for energy to permit gas pipelines and export facilities more quickly, similar to how the Trump administration did for COVID-19 vaccine development.

Abbott says Biden blocking Texas from providing natural gas to fix Europe energy crisis - Washington Examiner

Texas Gov. Greg Abbott criticized the Biden administration's regulatory policies and argued it is holding back his state's vast energy sector from providing natural gas to alleviate Europe's price pain. Abbott, who is up for reelection this year, said natural gas liquefied and then shipped from...

www.washingtonexaminer.com

 

[marke]

Abbott says Biden blocking Texas from providing natural gas to fix Europe energy crisis​

Texas Gov. Greg Abbott criticized the Biden administration's regulatory policies and argued it is holding back his state's vast energy sector from providing natural gas to alleviate Europe's price pain.

Abbott, who is up for reelection this year, said natural gas liquefied and then shipped from Texas ports could be of special help to European allies who are facing steep energy prices across the board amid doubts about supplies from Russia as it invades Ukraine. He specifically knocked the Biden administration for moving too slowly in approving new gas infrastructure to enable more growth.

"The only things that they have done that hinders the ability for Texas to get energy out to whether it be the country or the world is slowing the permitting process on things like [liquefied natural gas]," Abbott told the Washington Examiner.

Total interstate gas pipeline capacity additions decreased in 2021, and added capacity fell to its lowest since 2016, according to the Energy Information Administration.

The Federal Energy Regulatory Commission, responsible for approving interstate energy infrastructure projects, also just introduced new regulations to more strictly consider a prospective project's effects on the environment and local populations in determining whether it is in the public interest. The new policy statements have been slammed by Republicans and Democratic Sen. Joe Manchin, who say they introduce more uncertainty for investors and raise prices.

The United States, which in December surpassed top competitors Qatar and Australia to become the world's leading LNG exporter, currently has eight operative LNG export terminals. The bulk of these are located on the Gulf Coast.

Another 14 export projects were approved but not yet under construction, while six were proposed but not approved as of Feb. 17, according to numbers provided by the Federal Energy Regulatory Commission.

"Maybe one of the primary reasons why the war is occurring between Russia and Ukraine is because Russia had the entire European region tied to Russia for energy," Abbott said, noting Texas could change that with quicker project approvals

Abbott also said officials in his state have met with counterparts in the European Union about increasing oil and gas exports to the region as it plots a breakup with Russian fossil fuels.

"We are in visits with people in the EU region about their need to be receiving [liquefied natural gas] from Texas," he said. "We need to wean the EU off of Russian energy; that energy should be from Texas."

In the lead-up to the Russia-Ukraine war, President Joe Biden and European leaders emphasized the EU should work to dissolve its entrenched relationship with Russian energy sources. That campaign has only picked up momentum since Russian troops invaded and spiked natural gas prices briefly to more than 20 times the U.S. benchmark.

Many lawmakers of both parties, the domestic oil and gas industry, and other conservative policy groups also make the same case that U.S. fossil fuels should be expanded to replace Russian ones in the global market.

Meanwhile, Republicans have taken special aim at the Biden administration's energy policies for standing in the way of that, also implicating its restrictions on new leasing of federal lands for oil and gas development and FERC's new policies as being responsible for inhibiting price relief.

For example, Sen. Bill Cassidy of Louisiana, the site of two of the country's largest LNG export terminals, has been promoting an "Operation Warp Speed" for energy to permit gas pipelines and export facilities more quickly, similar to how the Trump administration did for COVID-19 vaccine development.

Abbott says Biden blocking Texas from providing natural gas to fix Europe energy crisis - Washington Examiner

Texas Gov. Greg Abbott criticized the Biden administration's regulatory policies and argued it is holding back his state's vast energy sector from providing natural gas to alleviate Europe's price pain. Abbott, who is up for reelection this year, said natural gas liquefied and then shipped from...

www.washingtonexaminer.com

People who claim Biden is doing nothing to slow energy production in America are either ignorant or deluded.

 

[ok doser]

Congressional liberals press Biden to declare emergency to restrict fossil fuels​

Liberal Democrats are pressing President Joe Biden to invoke emergency powers to push ahead with their energy and climate change agenda now that legislation has stalled in Congress.

The nearly 100-member Congressional Progressive Caucus released a slate of policy recommendations for Biden to pursue on Thursday, which call on him to use executive action to deal with a list of topics his "Build Back Better" agenda sought to address, including the development of more green energy technologies and placement of restrictions on new fossil fuel production.

The executive action agenda calls for Biden to declare a national climate emergency, as well as to employ the Defense Production Act, which both Biden and former President Donald Trump have done under the aegis of COVID-19 to increase ventilator and vaccine supplies, in order to build more renewable energy technologies, such as solar panels and wind turbines.
It also calls for Biden to target the fossil fuel industry directly through a reinstitution of a ban on crude oil exports in response to high oil and gasoline prices, something Democrats began urging Biden to do in earnest back in November, and encourages the administration to ban new fossil fuel leases on federal lands and waters.
The caucus's agenda outline reflects the sense of urgency and impatience that many Democrats are feeling now that the party's flagship social spending and green energy plan lacks movement because of Sen. Joe Manchin's opposition to broader Democratic legislation.

Nearly 90 congressional Democrats, a number of whom are part of the Progressive Caucus, wrote Biden earlier this week and asked him to start up talks again with Congress about getting their climate change agenda passed.
Meanwhile, Senate Majority Whip Dick Durbin suggested earlier this week that chamber leadership isn't pursuing a revival of the agenda as it was.
“I’ve been burned by this stove enough times,” Durbin said. “I’m not going to grab it another time.”

Those comments sparked anger among environmentalists who have been lobbying for the Build Back Better agenda for a year. Jamaal Raad, the head of Evergreen Action, said Durbin's comments reflected an "abdication of leadership in a moment where Democrats need to prove that they can deliver."

A group of 200 green groups wrote Biden on March 9, recommending similarly that he use the DPA to build renewables, as well as energy storage and efficiency technologies as a means of reducing demand for fossil fuels.
The Biden administration has maintained its line on the need to displace fossil fuels in favor of green energy, both to mitigate climate change and avoid price shocks associated with geopolitical upheaval. Officials, however, have been encouraging more oil production since crude prices shot up following Russia's invasion of Ukraine, frustrating environmentalists.

Congressional liberals press Biden to declare emergency and restrict fossil fuels

Liberals in Congress are pressing President Joe Biden to invoke emergency powers to push ahead with Democrats' climate change agenda and to put new restrictions on fossil fuels, even while gasoline remains at its highest per-gallon price on record.

www.washingtonexaminer.com

 

[marke]

Congressional liberals press Biden to declare emergency to restrict fossil fuels​

Liberal Democrats are pressing President Joe Biden to invoke emergency powers to push ahead with their energy and climate change agenda now that legislation has stalled in Congress.

The nearly 100-member Congressional Progressive Caucus released a slate of policy recommendations for Biden to pursue on Thursday, which call on him to use executive action to deal with a list of topics his "Build Back Better" agenda sought to address, including the development of more green energy technologies and placement of restrictions on new fossil fuel production.

The executive action agenda calls for Biden to declare a national climate emergency, as well as to employ the Defense Production Act, which both Biden and former President Donald Trump have done under the aegis of COVID-19 to increase ventilator and vaccine supplies, in order to build more renewable energy technologies, such as solar panels and wind turbines.
It also calls for Biden to target the fossil fuel industry directly through a reinstitution of a ban on crude oil exports in response to high oil and gasoline prices, something Democrats began urging Biden to do in earnest back in November, and encourages the administration to ban new fossil fuel leases on federal lands and waters.
The caucus's agenda outline reflects the sense of urgency and impatience that many Democrats are feeling now that the party's flagship social spending and green energy plan lacks movement because of Sen. Joe Manchin's opposition to broader Democratic legislation.

Nearly 90 congressional Democrats, a number of whom are part of the Progressive Caucus, wrote Biden earlier this week and asked him to start up talks again with Congress about getting their climate change agenda passed.
Meanwhile, Senate Majority Whip Dick Durbin suggested earlier this week that chamber leadership isn't pursuing a revival of the agenda as it was.
“I’ve been burned by this stove enough times,” Durbin said. “I’m not going to grab it another time.”

Those comments sparked anger among environmentalists who have been lobbying for the Build Back Better agenda for a year. Jamaal Raad, the head of Evergreen Action, said Durbin's comments reflected an "abdication of leadership in a moment where Democrats need to prove that they can deliver."

A group of 200 green groups wrote Biden on March 9, recommending similarly that he use the DPA to build renewables, as well as energy storage and efficiency technologies as a means of reducing demand for fossil fuels.
The Biden administration has maintained its line on the need to displace fossil fuels in favor of green energy, both to mitigate climate change and avoid price shocks associated with geopolitical upheaval. Officials, however, have been encouraging more oil production since crude prices shot up following Russia's invasion of Ukraine, frustrating environmentalists.

Congressional liberals press Biden to declare emergency and restrict fossil fuels

Liberals in Congress are pressing President Joe Biden to invoke emergency powers to push ahead with Democrats' climate change agenda and to put new restrictions on fossil fuels, even while gasoline remains at its highest per-gallon price on record.

www.washingtonexaminer.com

Congressional democrats supporting the destruction of American energy are idiots.

 

[ok doser]

Congressional democrats supporting the destruction of American energy are idiots.

hopefully any Republican who's planning to run against these idiots is taking notes and will use this to good effect in the election

 

[ok doser]

Canadian energy official is 'frustrated' Biden is looking to Venezuela and Iran for oil: 'We're right next door! We're here!'​

A Canadian energy official expressed frustration with the Biden administration for seeking to increase oil production from Venezuela and Saudi Arabia instead of looking to its neighbor to the north.
Sonya Savage, the energy minister for Alberta, made the comments in an interview with Lisa Fletcher of WJLA-TV.
"What did you think when President Biden called on OPEC and other oil drilling nations like Saudi?" asked Fletcher.
“I thought ‘what?’ ‘We're right next door. We're here!’" Savage responded.
"It's extremely frustrating when we see the United States administration reaching out to Saudi Arabia to ask for more oil production, to ask OPEC for more oil production, to look at Iran, to look at Venezuela when we're right next door here in Alberta," she explained. "They should be looking at us as the solution to energy security, not around, not Venezuela.”
Savage said that Canada could more than make up the lack of oil imports resulting from the ban on Russian imports over its invasion of Ukraine.

Canadian energy official is 'frustrated' Biden is looking to Venezuela and Iran for oil: 'We're right next door! We're here!' | Blaze Media

A Canadian energy official expressed frustration with the Biden administration for seeking to increase oil production from Venezuela and Saudi Arabia instead of looking to its neighbor to the north. Sonya Savage, the energy minister for Alberta, made the comments in an interview with Lisa...

www.theblaze.com

 

[ok doser]

Amid skyrocketing inflation, White House recommends Americans ‘stop being so poor’​

WASHINGTON, DC–Amid record skyrocketing inflation, White House Press Secretary Jen Psaki suggested a few things to help them through the difficult financial times.
“The first thing you should do with all this inflation is stop being so poor,” Psaki said at her daily press conference. “It’s not the president’s fault you’re not richer.”

The recommendation follows a similar recommendation by the Biden Administration Transportation Secretary Pete Buttigieg for people who can’t afford high gas prices to buy a horse and buggy.
“It’s not rocket science,” Psaki said, “just become rich and then inflation won’t affect you as much.”

Psaki has several other suggestions to help survive high inflation:

1. Put more money in your bank account
2. Become a millionaire by condemning income inequality
3. Get richer
4. Stop being so poor
5. Vote for the same people who are raising inflation

Psaki expects all of you peasants to be richer the next time she sees you.

Amid skyrocketing inflation, White House recommends Americans 'stop being so poor' • Genesius Times

WASHINGTON, DC—Amid record skyrocketing inflation, White House Press Secretary Karine Jean-Pierre suggested a few things...

genesiustimes.com

 

[marke]

Amid skyrocketing inflation, White House recommends Americans ‘stop being so poor’​

WASHINGTON, DC–Amid record skyrocketing inflation, White House Press Secretary Jen Psaki suggested a few things to help them through the difficult financial times.
“The first thing you should do with all this inflation is stop being so poor,” Psaki said at her daily press conference. “It’s not the president’s fault you’re not richer.”

The recommendation follows a similar recommendation by the Biden Administration Transportation Secretary Pete Buttigieg for people who can’t afford high gas prices to buy a horse and buggy.
“It’s not rocket science,” Psaki said, “just become rich and then inflation won’t affect you as much.”

Psaki has several other suggestions to help survive high inflation:

1. Put more money in your bank account
2. Become a millionaire by condemning income inequality
3. Get richer
4. Stop being so poor
5. Vote for the same people who are raising inflation

Psaki expects all of you peasants to be richer the next time she sees you.

Amid skyrocketing inflation, White House recommends Americans 'stop being so poor' • Genesius Times

WASHINGTON, DC—Amid record skyrocketing inflation, White House Press Secretary Karine Jean-Pierre suggested a few things...

genesiustimes.com

What a moron the democrats have chosen to interpret the muddled mess of Biden.

 

[Idolater]

Canadian energy official is 'frustrated' Biden is looking to Venezuela and Iran for oil: 'We're right next door! We're here!'​

A Canadian energy official expressed frustration with the Biden administration for seeking to increase oil production from Venezuela and Saudi Arabia instead of looking to its neighbor to the north.
Sonya Savage, the energy minister for Alberta, made the comments in an interview with Lisa Fletcher of WJLA-TV.
"What did you think when President Biden called on OPEC and other oil drilling nations like Saudi?" asked Fletcher.
“I thought ‘what?’ ‘We're right next door. We're here!’" Savage responded.
"It's extremely frustrating when we see the United States administration reaching out to Saudi Arabia to ask for more oil production, to ask OPEC for more oil production, to look at Iran, to look at Venezuela when we're right next door here in Alberta," she explained. "They should be looking at us as the solution to energy security, not around, not Venezuela.”
Savage said that Canada could more than make up the lack of oil imports resulting from the ban on Russian imports over its invasion of Ukraine.

Canadian energy official is 'frustrated' Biden is looking to Venezuela and Iran for oil: 'We're right next door! We're here!' | Blaze Media

A Canadian energy official expressed frustration with the Biden administration for seeking to increase oil production from Venezuela and Saudi Arabia instead of looking to its neighbor to the north. Sonya Savage, the energy minister for Alberta, made the comments in an interview with Lisa...

www.theblaze.com

Have you seen the estimated reserves in Venezuela though? It's like Saudi Arabia, except just right down there, so close! We could live on Venezuelan crude quite comfortably for a very long time.

We just need to like, annex them or something, so we're not 'bankrolling' an immoral corrupt regime.

 

[annabenedetti]

What a moron the democrats have chosen to interpret the muddled mess of Biden.

https://twitter.com/i/web/status/1507883623596265474

 

[ok doser]

Have you seen the estimated reserves in Venezuela though? It's like Saudi Arabia, except just right down there, so close! We could live on Venezuelan crude quite comfortably for a very long time.

We just need to like, annex them or something, so we're not 'bankrolling' an immoral corrupt regime.

Works for me

 

[marke]

https://twitter.com/i/web/status/1507883623596265474

We are paying twice as much for fuel under Biden as we were under Trump and that hurts.

 

[Idolater]

Works for me

Me too. It could be like a mix between Florida, Texas (coz of the oil), Aruba, Acapulco. It could be very nice.

 

[ok doser]

Biden not Putin

How Biden Raised Gas Prices Without Anyone Noticing

President Biden and Democrats blamed the continued gasoline price surge on Big Oil and Russia's invasion, but pump prices have climbed throughout his tenure.

dailycaller.com

 

[User Name]

Attempting to combat what's he's labeled "Putin's price hike," President Joe Biden announced a plan on Thursday to release roughly 1 million barrels of oil per day from the nation's strategic petroleum reserve over the next six months to reduce energy and gas prices.

"When COVID struck, demand for oil plummeted, so production slowed down worldwide. Because of the strength and the speed of our recovery, demand for oil shot back up much faster than the supply. That's why the cost of gas began to rise last year. The second root is Vladimir Putin," he said.

Speaking directly to oil company executives, Biden told them “enough of lavishing excessive profits” and passing on the cost of oil to consumers, adding that they have “everything they need” and “nothing is standing in their way” to boost production.

“They don't want to increase supply because Putin's price hike means higher profits," Biden said.

He went on to propose a "use it or lose it" policy, calling on Congress to create legislation to tax companies if they're sitting on idle wells and lands that aren't producing for Americans.

MSN

www.msn.com

 

[marke]

Attempting to combat what's he's labeled "Putin's price hike," President Joe Biden announced a plan on Thursday to release roughly 1 million barrels of oil per day from the nation's strategic petroleum reserve over the next six months to reduce energy and gas prices.

"When COVID struck, demand for oil plummeted, so production slowed down worldwide. Because of the strength and the speed of our recovery, demand for oil shot back up much faster than the supply. That's why the cost of gas began to rise last year. The second root is Vladimir Putin," he said.

Speaking directly to oil company executives, Biden told them “enough of lavishing excessive profits” and passing on the cost of oil to consumers, adding that they have “everything they need” and “nothing is standing in their way” to boost production.

“They don't want to increase supply because Putin's price hike means higher profits," Biden said.

He went on to propose a "use it or lose it" policy, calling on Congress to create legislation to tax companies if they're sitting on idle wells and lands that aren't producing for Americans.

MSN

www.msn.com

Biden seems determined to price gasoline and diesel out of range so Americans will have to buy very expensive, less efficient electric vehicles. How sad.

 

[User Name]

Biden seems determined to price gasoline and diesel out of range so Americans will have to buy very expensive, less efficient electric vehicles. How sad.

No Sparky, you missed the point again as usual. The point is that Biden is calling on Congress to pass legislation to tax oil companies for idle wells and lands that they aren't producing, thus incentivizing them to get off their duffs and increase production!

 

[marke]

No Sparky, you missed the point again as usual. The point is that Biden is calling on Congress to pass legislation to tax oil companies for idle wells and lands that they aren't producing, thus incentivizing them to get off their duffs and increase production!

Will an oil business be able to make money by paying more and higher taxes, by being burdened with more and tougher regulations, or by having to invent new ways to pump oil from wells to refineries without using pipelines? Biden is no more interested in increasing American oil production than Obama was interested in helping American coal businesses.