Thursday, July 14, 2022

Gas Prices Blame Shift

By Douglas V. Gibbs
Author, Speaker, Instructor, Radio Host

Economics is a simple thing. Supply and demand is at the core of it, but also there are other factors.  Where is the product coming from?  The competition factor.  Cost of producing a product.  Government policies and restrictions.  

Gas prices are the highest they've been in history.  The response of the Biden Administration?  The high prices are the fault of the invasion of Ukraine by Russia.  The problems regarding that argument are that we do not receive any oil from Russia, and the prices were on their way upward before the invasion.

Here's the facts:

  • The Biden Administration reentered the Paris Climate Accord which is designed to push "renewable energy" by increasing restrictions on "fossil fuels" which then in turn increased not only fossil fuel based energy costs but requires use of "renewable energy" which is more costly and less reliable.
  • The Biden Administration canceled the Keystone Pipeline.
  • The Biden Administration issued a halt on all new oil and gas leases and drilling permits on federal lands and waters; and halted all leases at Anwar.
  • Issued to all federal agencies and order to halt any support for fossil fuels.
  • Imposed new regulations on all oil and gas producers.
  • Imposed new regulations regarding all emissions.
  • When he decided to ease federal restrictions on permits on federal properties he only did so in the Gulf of Mexico, then doubled the cost of the fees.
  • Our only access to oil being allowed by Biden's administration is from the Middle East with countries that not only hate America, but knowing they now have no competition have increased their prices.  He is traveling to Saudi Arabia to beg that they lower their prices.  They will likely laugh in his face.
  • In the Democrat law pushed by the Biden Administration the Infrastructure Investment and Jobs Act unconstitutionally requires 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.
  • The federal EPA  has unconstitutionally created its own legislation in the form of a new rule regulating greenhouse gas emissions from cars and trucks. That single regulation could raise the average vehicle price by $1,000 due to the required upgrades to keep the new vehicles within compliance.
  • A new carbon taxing policy.
  • The Biden Administration issued an executive order to enforce mandates on businesses, insurers, retirement funds, and suppliers regarding energy usage increasing costs across the board for energy, including gasoline.
  • Imposed restrictions on the import and export of crude oil.
  • A provision in the Build Back Better agenda includes new taxes on petroleum.
But, they tell us its Russia's fault.

-- Political Pistachio Conservative News and Commentary

No comments: