Posted on 05/26/2022 7:31:28 AM PDT by bitt
The Biden administration appeared to reverse its previous position that it wouldn’t consider an oil export ban Tuesday.
“I can confirm the president is not taking any tools off the table,” Energy Secretary Jennifer Granholm remarked, Reuters reported.
“If you had a ban on crude oil exports, because you’re cutting off supply to the global market, you are going to have higher global crude prices and higher global refined product prices that would be fed through here,” said Garrett Golding, a business economist tasked with analyzing energy markets at the Federal Reserve Bank of Dallas.
EEnergy Secretary Jennifer Granholm said the administration hasn’t ruled out a petroleum export ban Tuesday, an apparent reversal of its previous position on the policy.
Granholm’s comments appeared to suggest President Joe Biden was open to both an oil export ban and export ban on refined products like gasoline or diesel fuel. The energy secretary promised in December that a crude oil export ban was off the table during a meeting with oil industry officials, adding that she didn’t “want to fight” with domestic energy producers.
“I can confirm the president is not taking any tools off the table,” Granholm remarked Tuesday during a visit to Louisiana, Reuters reported.
However, market analyses of the 1975 federal oil export ban, which was repealed in 2015, suggested the policy had a negligible impact on prices and, sometimes, led to higher domestic energy prices. Allowing oil exports incentivizes domestic production, ensures global market stability and boosts the U.S. economy, according to multiple studies.
“Petroleum product prices in the United States, including gasoline prices, would be either unchanged or slightly reduced by the removal of current restrictions on crude oil exports,” the Energy Information Administration (EIA) concluded in a 2015 report.
(Excerpt) Read more at amp.dailycaller.com ...
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Energy Secretary Jennifer Granholm was asked if the Biden administration welcomes high fossil fuel prices so as to force more Americans into electric cars. Granholm denied it:
@thehill
Reporter: “You hear time and time again from folks on the right saying the price of gas today is almost intentional to try and get people to move towards electric vehicles.”
@SecGranholm: “That is absolutely false. [...] Oil is traded globally.” http://hill.cm/3X8blPh
VIDEO
I want to see how big this table of his is!
“All Of The Prices Have Gone Up (But We Can’t Pay That)” - Meat Loaf classic adapted by Marsh Family
https://www.youtube.com/watch?v=5ROP5Z-8Jl0
Klaus Schwab said do it but keep it quiet so he can save the world ,LOL
I loved where they threw the little girl under the bus for missing her line.
Here's the follow up question that should have been asked
Is re-approval of the Keystone Pipeline back on the table?
> “I can confirm the president is not taking any tools off the table,” Energy Secretary Jennifer Granholm remarked, <
“I can also confirm the president will do exactly what Obama and his other handlers want him to do,” Secretary Granholm added.
Cool! We cut down gasoline prices and the US and drive them up in Europe!!! Serves them right, particularly Poland.
The procedure required is not to end oil and gas but to eliminate environmental wackos and progressives. When America is completely free of progressives te fossil fuels problem will be over.
Progressives are the problem and the enemy. They are destroying America
There can be no co existence
An export ban will enrich domestic producers, who can’t increase their domestic output due to environmental restrictions, but it won’t lower the world price of crude.
How much tax revenue comes from Oil and everything connected with it ?
Very clever! Kudos for the family!
Word games to avoid admitting their drilling restrictions are causing 100% of the economic disaster.
“I can confirm the president is not taking any tools off the table,” Energy Secretary Jennifer Granholm remarked
________________________________
Good to know they’ve not prohibited going back to Trump policies where we had $1.80/gal gas, eh.
An oil export ban is only responsive to an oil availability problem, not price. Our problem is price, not availability. Oil is available here, but the domestic price has been purposely jacked up by Biden’s policies as he has already admitted.
Leaving tools on the table is bloody worthless when none of the commie trash in charge have any intention of lessening the damage they have caused already.
This is all intentional. Just like lying about the Russian collusion, a video caused the Benghazi deaths, etc.
It is a global commodity. It will make things worse.. Has there ever been a larger collection of idiots?
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