Thursday, February 24, 2022

Oil

When Obama was elected the price of oil was $60 per barrel. In 2014 when Putin took Crimea the price rose to $109 per barrel. Recall that Obama said that your electric bill will sky rocket and he was right. but saving the planet was part of the sacrifice we had to pay. When Trump took office the price had dropped to $40. When Trump left office it was still $40. The first thing that Biden did was to restrict fossil fuel production and the price doubled to $90 by the end of his first year. Jen Psaki said that is the price we have to pay to save the planet. Putin invades and the price goes to $100 and probably higher in the coming days. Because of higher prices China and India are using more coal. All of these policies designed to reduce CO2 have in fact increased CO2. It is time for Biden to reverse policy and open up the spigots on fossil fuels instead of asking OPEC to help.

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