Life is Golden
The Sage
President Joe Biden’s war on American energy started the day he took office on Jan. 20, 2021 and hasn’t let up since. Voters pay the price. In the last 12 months, Biden’s policies have pushed prices higher by 8.3 percent; gasoline is up almost 26 percent, and food up 11.4 percent.
America went from energy dominance under the policies of former President Donald Trump—we even became a net exporter of energy in 2019 for the first time since 1952—to country in which the domestic energy industry is vilified, and federal regulators use their power to hinder energy production. American production of oil is off about 1 million barrels a day since the pre-COVID-19 peak under Trump in late 2019, an eight percent decline.
To boost the supplies of oil, Biden has engaged in a reckless release of America’s Strategic Petroleum Reserve, drawing down this emergency stockpile by about a million barrels a day—the same amount as the shortfall of our domestic production. The Strategic Petroleum Reserve is now at its lowest level in more than 40 years, shortly after it was created. This is dangerous.
In trying to make a public spectacle of releasing 10 million barrels of oil from storage, Biden has completed the transition of the Strategic Petroleum Reserve into the Strategic Political Reserve—using oil stored for national security purposes in a vain attempt to rescue the midterm elections for the Democrats.
Unfortunately for Biden and the Democrats, it won’t work. Biden’s anti-domestic energy policies have caused oil and natural gas producers to be wary of spending money to boost production, while big banks’ woke capital restrictions are gradually starving the oil and gas sector of the money needed to drill new wells.
Closer to home, electricity prices have been rising faster than inflation. California and New York—two states trying to lead Biden’s green energy revolution—have hit their consumers with electricity price hikes far higher than the national average—up 16 percent through July in California and 13 percent in New York. Californians now have the most expensive electricity in the lower 48 states. Households there are now paying 79 percent more for their electricity than the national average
https://www.foxnews.com/opinion/biden-war-american-energy-take-toll-democrats-november
America went from energy dominance under the policies of former President Donald Trump—we even became a net exporter of energy in 2019 for the first time since 1952—to country in which the domestic energy industry is vilified, and federal regulators use their power to hinder energy production. American production of oil is off about 1 million barrels a day since the pre-COVID-19 peak under Trump in late 2019, an eight percent decline.
To boost the supplies of oil, Biden has engaged in a reckless release of America’s Strategic Petroleum Reserve, drawing down this emergency stockpile by about a million barrels a day—the same amount as the shortfall of our domestic production. The Strategic Petroleum Reserve is now at its lowest level in more than 40 years, shortly after it was created. This is dangerous.
In trying to make a public spectacle of releasing 10 million barrels of oil from storage, Biden has completed the transition of the Strategic Petroleum Reserve into the Strategic Political Reserve—using oil stored for national security purposes in a vain attempt to rescue the midterm elections for the Democrats.
Unfortunately for Biden and the Democrats, it won’t work. Biden’s anti-domestic energy policies have caused oil and natural gas producers to be wary of spending money to boost production, while big banks’ woke capital restrictions are gradually starving the oil and gas sector of the money needed to drill new wells.
Closer to home, electricity prices have been rising faster than inflation. California and New York—two states trying to lead Biden’s green energy revolution—have hit their consumers with electricity price hikes far higher than the national average—up 16 percent through July in California and 13 percent in New York. Californians now have the most expensive electricity in the lower 48 states. Households there are now paying 79 percent more for their electricity than the national average
https://www.foxnews.com/opinion/biden-war-american-energy-take-toll-democrats-november