It is truly ironic that the Biden regime declared that individuals spreading ‘misinformation’ are domestic terrorists because Joe Biden spreads an inordinate amount of actual misinformation. Just this past Tuesday, Biden told a rather egregious whopper about what is causing gas prices to climb alarmingly fast, to record levels. Joe Biden told the world that gas prices are high because domestic oil production is not keeping up to demand, because oil companies are not using 9000 drilling permits that were previously issued.
This article, American Petroleum Institute: Biden ‘Misusing Facts’ When Talking About Unused Drilling Permits (legalinsurrection.com), proves this to be a mistruth.
“Just because you have a lease doesn’t mean there’s actually oil and gas in that lease, and there has to be a lot of development that occurs between the leasing and then ultimately permitting for that acreage to be productive,” he said. “I think that they’re purposefully misusing the facts here to advantage their position.”
This article, Biden’s U.S. Oil Embargo – WSJ, explains in great detail how Joe Biden’s radical policies are in fact responsible for the skyrocketing gas prices here in the United States.
On Tuesday he even blamed U.S. companies—not his policies—for not producing more. There are 9,000 available unused drilling permits, he claimed, and only 10% of onshore oil production takes place on federal land. Talk about a misdirection play.
First, companies have to obtain additional permits for rights of way to access leases and build pipelines to transport fuel. This has become harder under the Biden Administration. Second, companies must build up a sufficient inventory of permits before they can contract rigs because of the regulatory difficulties of operating on federal land.
It takes 140 days or so for the feds to approve a drilling permit versus two for the state of Texas. The Administration has halted onshore lease sales. Producers are developing leases more slowly since they don’t know when more will be available. Offshore leases were snapped up at a November auction because companies expect it might be the last one.
Different agencies under the Biden regime have worked hard at instituting policies that are responsible for the astronomically high gas prices, and will continue at their efforts, regardless how devastating they are to the American people.
Interior’s five-year leasing program for the Gulf of Mexico expires in June. Yet the Administration hasn’t promulgated a new plan. Nor did it appeal a liberal judge’s order in January revoking the November leases. But the Administration has appealed another judge’s order requiring that it hold lease sales.
Then there’s the not-small problem of financing. Companies can’t explore and drill, or build pipelines, without capital. Biden financial regulators allied with progressive investors are working to cut it off. The Labor Department has proposed a rule that would require 401(k) managers to consider the climate impact of their investment holdings.
The Securities and Exchange Commission is expected to issue a rule requiring companies and their financiers to disclose greenhouse gas emissions. Mr. Biden has nominated Sarah Bloom Raskin, of all people, to be the Federal Reserve’s top bank supervisor. Her top priority is using bank regulation to redirect capital from fossil fuels to green energy.
Joe Biden’s green energy policies are so odious they are affecting the long term strategic planning of American energy companies.
Large energy producers are buying back stock and redirecting capital to renewables because they see the Administration’s writing on the wall. Small independent producers are eager to take advantage of higher prices but can’t get loans. Many relied on private equity during the last shale boom, but now these firms are cutting them off.
Progressive outfit Global Energy Monitor gleefully proclaimed Tuesday that $244 billion in U.S. liquefied natural gas projects are stalled because they “are struggling to find financiers and buyers” amid “pressure from cheap renewables”—i.e., rich green energy subsidies that Democrats want to make richer—and “tightening climate commitments.”
This article, Is It Intentional or Simply Ignorance? – American Thinker, explains in great detail how the Biden regime’s energy policies are most definitely causing gas prices here in the United States to skyrocket.
Among a number of things going wrong in America right now, worst of all is our totally unnecessary, self-inflicted end to energy independence.
This one is particularly frustrating because it is so unnecessary and arbitrary. Based purely on liberal arrogance and adolescent egotism — not on well-considered business factors or with the country’s long-term well-being in mind — “President” Biden canceled the Keystone Pipeline as soon as he occupied the Oval Office. This was simply a ploy to curry favor with the Green voting bloc and do something to counter President Trump. It was the act of a shallow emotional simpleton and his behind-the-scenes puppet masters trying to look good in the eyes of the Squad and the liberal media.
It’s not as if the cancelation of Keystone in and of itself ruined our energy sector. Biden also stopped any fossil fuel exploration in ANWR, voided existing oil exploration and development leases on federal lands, and sharply curtailed the ability of existing oil and natural gas fracking companies to conduct their operations. This has markedly reduced our supply, but far more important, it sent a message to the world oil market that any possibility of substantial new American oil was stopped dead in its tracks. The result? We’ve now got hyper-inflation-inducing higher crude oil pricing, even before the Ukraine-Russia fandango fanned those flames even higher.
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