Wednesday, February 23, 2022

Cost of gas

Trump's energy policy resulted in the US becoming energy independent and a net exporter of natural gas and oil. Biden within the first 100 days reversed the Trump energy friendly approach and promised to stop drilling on public lands and in Alaska a long with withholding drilling permits. He said that climate change was more important and during the campaign promised to stop fracking. Jen Satky said today that Biden was doing everything he could to lower the price of gasoline. Here is a quote from The Hill, a left leaning site, from 08/28/2021: From its first days, the Biden administration has attacked and stifled America’s energy production. When he was campaigning, Biden and his running mate both promised to stop fracking. Immediately after he was elected, Biden paused all oil and gas leasing on federal lands. He then killed the Keystone XL pipeline and the many thousands of jobs it supported, claiming the pipeline did not serve the U.S. national interest. Only a few months later, he supported removing sanctions on the Nord Stream 2 pipeline, handing a major energy and international policy win to Russian President Vladimir Putin and oil giant Gazprom. One way to bring down the cost of oil is to increase the supply of oil. Biden should revert back to the Trump policies to increase both natural gas and oil. This would help the US consumer and hurt the Russians. One of the best ways to get Putin's attention is to bring down the price of fossil fuels.

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