by Frank Mazur
Some analysts estimate gas will approach $8/gallon. Goldman Sachs predicts crude oil will surge to $140 a barrel; it was $68 in 2019. People gasp paying $80 per fill-up. How did we get here?
President Biden declared war on fossil fuels the day he took office. His green new-deal executive order shut down pipelines and ceased drilling on Federal lands. The number of operating drilling rigs on 1/2019 was 1061 compared to 531 today. Biden is now begging Venezuela, Iran and Saudi Arabia for oil.
We currently have 124 refineries, half the number a few years ago. There hasn’t been a new refinery built since 1976 because regulations forced refiners to close or cut production. Biden is committed to put them out of business. Refiners are operating at 95 percent capacity and deferring maintenance to meet demand. Political uncertainty also discourages any capacity investments.
To reduce fuel shock, Biden proposed suspending the Federal fuel tax for 3 months which will exacerbate inflation. Biden’s only real solution is promoting electric cars, taking buses or ride Amtrak.
Plans to reduce gas pump shock are in permitting new pipelines and drilling rigs, increasing refining capacity and investment using incentive regulations in effect 18 months ago.
Biden’s green warriors are throwing confetti because oil production and refineries are winding down. A massive crisis is on its way since nearly all food we eat and products purchased are brought to market by trucks and/or made with fossil fuel. It’s a crisis of Biden’s own creation.
The author is a South Burlington resident and former Republican legislator.
Categories: Commentary
This administration’s “green warriors” were advocating for abortion all over the TV too just a few days ago. Do any of these people have a lick of sense or any type of awareness about what they do for the left they so hail to? How in the world does killing the unborn help “climate change”??
S many ignorant, foolish, -inablity to think independently- people in this country – the schools have simply turned out robots.
Everyone is for cleaner, healthy, economical, convenient and sustainable energy.
Most are against mining, drilling, transporting, refining, generating and everything that gives you reliable, economical, electricity or fuel.
There is a great gulf between the “green warriors” and the general population in the US and even more so the world. Today you see demonstrations, and more, over the loss of subsidies and low prices with dependable supply. Peoples willingness to sacrifice or pay extra is limited and not universal.
Our world is carbon centric. Ant idiot knows you have to have an answer, before you destroy your world.
Well maybe not.