Biden has made it clear that he has no intention of resolving the energy crisis. His administration was the one who pushed the rules that brought us here in the first place. During the 2020 election, he promised to shut down the oil sector. Any assertions that he is attempting to improve things are false.
In fact, any of his administration’s “solutions” have merely served to exacerbate the problem. He spent our strategic oil reserve (lowering prices by a few pennies), only to promptly repurchase gas, limiting supplies and rising prices. He approved the addition of extra ethanol to our gasoline, thereby diluting it.
And now, his energy adviser is proposing yet another step that will put oil corporations out of business.
Energy Secretary Jennifer Granholm said Tuesday that the administration hasn’t ruled out a petroleum export ban, reversing its previous stance on the issue…
“I can confirm that the president is not taking any instruments off the table,” Granholm said during a visit to Louisiana on Tuesday, according to Reuters…
Market analysis of the 1975 federal oil export restriction, which was removed in 2015, found that the regulation had no effect on prices and, in certain cases, resulted in higher domestic energy prices. According to various studies, allowing oil exports encourages domestic production, assures global market stability, and benefits the US economy. [Daily Caller] [Source: Daily Caller]
Biden and his administration’s fools are, as usual, making the most worst mistakes. They might implement an oil export ban, preventing American oil corporations from selling their goods to other nations. To a toddler, this would imply that Americans would have more oil. However, the outcome will be quite different.
Biden is slamming energy businesses with hefty restrictions and fines, which is why gas prices (and electricity rates) are skyrocketing. Drilling on federal lands, which is a key source of natural resources, is likewise prohibited. Oil export bans would result in even lower earnings for these enterprises, forcing them to refine even less oil.
As a result, prices would rise even more.
That is, however, Biden’s purpose. He has no intention of making it any easier for ordinary Americans to deal with this challenge. He wants gas prices to reach their highest point possible in order to punish Americans who drive old cars. That will force us all to buy Teslas in his sick, tiny head. In reality, it benefits only lobbyists, environmentalists, and foreign oil companies.
The situation is significantly worse for Americans.
The preceding is a summary of an article that originally appeared on National Insiders.