Gas Prices Hit New All Time Highs. Another Failure For Bidenomics.

It’s clear that Biden administration policies are directly responsible for the inflation plaguing America today.

The primary blunder was the attack on U.S. oil and natural gas production that began on Day One of Biden’s term in office. The Keystone XL Pipeline was killed, new oil and gas leasing on federal lands was suspended, new regulations were put on fracking, and the White House worked with financial regulators and asset managers such as Larry Fink of Blackrock to push policies that would handicap oil and gas financially in the name of bogus climate alarm.

The increase in oil and gas prices was not accidental. It was exactly what the administration wanted. Higher prices at the pump made electric vehicles and alternative energy seem more attractive. That approach was always nonsense because alternatives (wind turbines and solar) are not scalable, and are intermittent so they cannot provide the reliable baseload needed to sustain modern power grids.

It’s also the case that global energy demands are growing faster than alternative output, which means that only oil and natural gas (or nuclear) can fill the gap. These facts did not stop the Green New Scam cultists from pushing for higher energy prices.

What the climate alarmists did not realize is that energy prices are not a standalone category with easily substitutable wind and solar waiting in the wings. Oil and gas inputs are built into everything.

They provide the energy needed for manufacturing. They provide the fuel needed for transportation. They provide nitrogen for fertilizer and fuel for farmer’s tractors and harvesters. The point is that when oil and gas prices go up, the price of everything goes up because of the energy inputs in the manufacture, transportation, and distribution of goods and services.

Now we have the across-the-board inflation that any analyst (but no ideologue) could have predicted. Biden next claims he has a “solution” for the problem his administration created.

As described in this article, Biden released 50 million barrels of oil from the Strategic Petroleum Reserve last November, 30 million barrels on March 1, and 180 million barrels on March 31 of this year.

The idea was to alleviate an energy “shortage.” But there never was an energy shortage. There’s ample oil around the world. The price hikes are being driven by transportation bottlenecks, war sanctions, and regulations.

True to form, not only did Biden’s energy policies fail, but his petroleum reserve solution failed as well. Oil prices and the price of gas at the pump keep rising. And, our strategic reserve is slowly dwindling.

Biden has weakened our energy independence, our national security, and economic growth. It’s a Trifecta of Failure.

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