Posted on 02/11/2021 8:48:45 AM PST by Red Badger
By the time America gets back to work, and traffic jams, gas prices under the Biden administration could be heading back to $4 thanks to new climate regulations, the president’s shutdown of energy mining on federal lands, and overseas production cuts.
Industry experts believe that as the coronavirus vaccine becomes widely available, offices will start to fill up, as will gas stations.
But the supply may not be there because of production cutbacks, Biden’s new rules, and moves overseas to slow production to match low usage.
The result could be an “oil price trap” for the new president, according to Steven Kopits, the managing director of Princeton Energy Advisors.
He told Secrets, “Biden has substantial political risk heading in the 2022 midterms. He would do well to articulate a more balanced energy package because we may well see gasoline prices above $4 a gallon, and Republicans will not hesitate to finger the moratorium on leasing as the cause.”
Since Election Day, gas and crude oil prices have jumped. In the United States, gas prices are up 18% and oil nearly 50%.
Said another industry expert, “In four years, we had made the U.S. energy independent and denied the bad guys the ability to control global oil prices. The Democrats undo it in two weeks. Just incredible.”
Many of Biden’s first moves were directed at radically cutting the chances for further global warming. Several will kill jobs.
Every department has been ordered to factor climate change into their moves. In addition, he suspended new drilling leases on federal lands, restricted U.S funds in worldwide carbon energy programs, eliminated “fossil fuel subsidies,” stopped the Keystone XL oil pipeline construction, and slapped a moratorium on federal leases in Arctic Wildlife Refuge.
OPEC and the Saudis have also cut production in hopes of raising prices to offset a year of losses.
The president’s plans have played well to his base, but consumers and energy industry representatives are starting to push back. The last time gas prices reached $4 was 10 years ago.
“The Biden administration’s plan to obliterate the jobs of American oil and gas explorers and producers has been on clear display with cancellation of the Keystone XL Pipeline, the initial announcement of a 60-day freeze on federal leasing and permitting,” said Dan Naatz, with the Petroleum Association of America.
And, any time a lib complains, tell him he has no one to blame but himself.
$3 by summer.
Regular went up 14 cents a gallon last night at Walmart. The cheapest in town.
Americans: are you better off now than you were 4 weeks ago?
That’s what rats do....they love soaking the citizens...they hate energy independence...
Most Biden voters applaud this. They’re saving the planet, don’t you know?
We’ve had too much prosperity for too long. Biden and the Dems are about to give Americans a reality check.
$3 by Easter..............
Biden set himself up for this.
That’s not a fault. It’s a feature.
More job losses, higher prices on everything, runaway inflation, illegals pouring over the borders in mass waves, more restrictions or travel ............... what’s not for a Dem to love?....................
$2.19-$2.29 in the Ozarks. Steep hike since China Joe took over.
Unity defined
“More job losses, higher prices on everything, runaway inflation, illegals pouring over the borders in mass waves, more restrictions or travel ............... what’s not for a Dem to love?....................”
But don’t forget, Romney’s got another plan.
In January 2009 as the Kenyan Usurper raised his paw to take the oath of office gas in midstate Pennsylvania hit a low of $1.49.
“I’ll never see that again” I remember thinking.
Three years later in April it his an all time high of $3.99.
Welcome to BIDENISTAN!
All the hard working Americans (and illegals) saddled with higher cost of working / less disposable income.
Great job never Trumpers!
Biden’s actions are obviously being orchestrated by O’Bama. Their intent is to wipe out the Trump years completely. They never happened. We have to get the country back to the depth it was when Barry left office. Once there we can then get back to aggressively destroying what’s left. This was supposed to have been Hillary’s job, but Trump election screwed that up. He reversed the intentionally inflicted damage. That must be undone. Joe is just doing what Comma-LA and Valerie are telling him to.
We’re all getting what the Democrats and Dominion voted for in November.
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