Posted on 02/14/2021 7:54:00 PM PST by karpov
President Biden shutting down the Dakota Access pipeline would result in Americans paying higher prices at the supermarket, according to experts.
The Biden administration will decide the fate of the Dakota Access pipeline, which was approved by former President Donald Trump in 2017 after being denied by former President Barack Obama, following a court-ordered environmental review.
More than 200 celebrities recently sent a letter to Biden asking him to permanently shut the pipeline due to its impact on the environment and its impact on the Indigenous people who live in the area.
The Biden administration did not respond to FOX Business’ request for comment.
The Dakota Access pipeline transports 570,000 barrels of oil each day from the Bakken Shale in North Dakota through South Dakota, Iowa and to an oil terminal in Illinois. It is the safest and most efficient way to transport the oil, according to operator Energy Transfer Partners.
Efforts to stop the delivery of that energy will “hit the American people directly in the pocketbook,” said Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute.
Agricultural economist Elaine Kub said in a legal filing last fall that shutting down the Dakota Access pipeline would cost Corn Belt farmers more than $1 billion in annual revenue and “drive up food costs for consumers” as oil would command keyspace on railroad cars needed to transport agricultural products long distances.
Shipping corn from Minneapolis to Portland costs $1.31 per bushel by rail, but would cost $3.84 by truck, Kub said.
The American Farm Bureau Federation “anticipates increased transportation costs for agriculture as a result of the increased transportation competition between agriculture products and oil,” a spokesperson told FOX Business.
(Excerpt) Read more at foxbusiness.com ...
Warren buffett owns the railroads (BNSF)
I don’t think Biden has any idea what he’s doing or signing.
He’s being led around by the nose, by the radical leftists in his party.
Well if they tell him it’s going to raise prices and hurt Americans, I’m sure he’ll be gung-ho for that! (and that’s not sarcasm)
Maybe so but there is enough evil in him to be completely on board for all this. While it was muted I think he wants to shut down fracking completely.
Good. Raise the price of gas to $10 a gallon while you’re at it.
I don’t blame Biden for cancelling the Pipeline, I blame the economic illiterate who voted for Biden. Once Biden did this, I realized that Hyperinflation is right around the corner
High gas prices impact everything, from consumer goods to industrial materials. In addition to higher gas prices, more workers unemployed will mean less productive output.
And of course, the left will blame Trump. My advice is to ditch paper money and buy precious metals. This is really the hedge against hyperinflation.
200 celebrities ruling the rest of the country. They’re going to pay.
There were already shortages in stores before this moron took office. He’s only going to make it worse. My local Walmart has had empty shelves for a very long time, even before the virus showed up. If I can’t find what I need there, I have to drive to the other Walmart a half-hour away to see if they have it. My local grocery stores don’t carry some of the things I buy...like thick-cut bacon, and Johnsonville Brown Sugar & Honey breakfast sausages. Whenever I walk into my local Walmart, it looks like a going-out-of-business sale because the shelves and freezers are empty.
I’m glad that you believe he has at least that much cognizance.
I think he’s just a useful and manipulable puppet.
I don’t think his wife, Doctor Jill Biden, MD (/), has dementia, and he would probably listen to her over acting president Ron Klain if she told him he’s running the country into the ground with his EO’s. But, she’s not.
I think what’s happening is that they’re going balls to the wall communism with Biden, and if his support (or his physical self) hasn’t completely collapsed by 2024, run him again. Otherwise, they’ll run Harris at the top of the ticket and see if racial and gender politics can bail out their dumpster fire of a record.
Well yeah, food will be costly, but you get to wear a sweater around the house which looks cool in a 1978 kind of way.
Where do you live?
“Hyperinflation is right around the corner” Been hearing that sentence since 1965.
WTI oil is around $58.50 a barrel, bulls think it might go as high as $70. I doubt that as producers worldwide will crank up well before $70.
Under Bush, oil went to $147 a barrel. Bodies everywhere from hyperinflation.
That can be accomplished with about 5000 feet of good quality rope. (200 * 25 feet)
Rome, New York - Oneida County.
How is the pipeline federal and can the states just dig a hole and put in a pipe?
Bkmk
Thanks. No empty shelves where I live in Texas. The west coast ports are very backlogged, causing shortages in some items.
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