It is impossible to overstate President Joe Biden’s recklessness when it comes to energy policy. Incredibly, it only got worse following the war in Ukraine.
On Tuesday, Biden rushed to declare a US embargo on the purchase of Russian oil — clearly not as a thoughtful political decision, but simply because Democrats in Congress joined Republicans in pushing the idea.
The move carries risks, such as pushing an increasingly erratic Vladimir Putin to halt all energy sales from Russia to the West, which would push world prices even higher.
Worse still, the Bidenites are now seeking to replace Russian oil with Venezuelan crude – never mind that nation’s dictatorship being as evil as Putin’s. And they are rushing to a new deal with Iran, bolstering this despicable regime in hopes of putting Tehran’s oil back on the world market.
Meanwhile, the White House claims that Putin’s war is the sole cause of the crisis, ignoring the fact that energy prices began to soar as soon as Biden took office and declared war on the US fossil fuel industry: shutting down pipelines, denying new drilling permits, and promising a new regulatory and tax attack on anyone who dares to drill.
The Biden team and Democrats like New York Governor Kathy Hochul also frown on suggestions to suspend taxes on gasoline, home heating oil, and more. – although federal, state and local levies accounted for 22% of pump prices before the war.
In other words, a nationwide suspension of gasoline taxes would do far more for hard-hit consumers than Biden’s outlandish release of oil from the Strategic Petroleum Reserve: Even with other nations joining, that’s is less than two days worldwide supply, providing best brief relief.
Democrats inevitably say the rampage of American drillers won’t have an immediate impact. This is only partly true, as markets react quickly to changing outlooks. Additionally, many companies know where they would like to go next and would act quickly if they thought the goal was beyond their control.
More importantly, it would certainly boost US supply (and exports to our allies) within months – when this energy shock could well be long-lasting.
It doesn’t matter where the fossil fuels we burn come from when it comes to climate change, and the simple fact is that wind and solar aren’t even growing fast enough to meet growing global demand. (By the way, the US fossil fuel industry is a parcel cleaner than that of Russia, Venezuela or Iran. And while more nuclear power plants might help, building them takes years.)
So it’s utter folly to empower the enemies of America – the civilization enemies – by refusing to exploit our own resources on the basis of a vague idea that this brings the world closer to a carbon-free future.
And it’s beyond ignominy for Biden to pretend it’s all Putin’s fault, hoping the American people are too weak to notice that their own costs began to skyrocket long before Putin’s invasion. Ukraine.
How low must the President’s polls go before the White House starts to face reality and stops pretending it can make the disasters it keeps producing go away?