Biden Must Reverse His Energy Policy Immediately

[Riddick]

Joey Softserve said in his SOTU “My top priority is getting prices under control.” OH RILLY?? He said he would release 30 million barrels from the Strategic Petroleum Reserve, in anticipation sanctions on Russia would cause a spike in energy prices.

Releasing some oil from the reserve won’t have a significant impact on prices. There may be a few cents per gallon drop, but then prices will continue upward.

Biden has set his energy policy on the belief use of fossil fuels must be eliminated. However, Michael Busler, public policy analyst and a professor of finance at Stockton University says, because of current world events, he must reverse his energy policy -- immediately.

In order to reduce the use of fossil fuels, as soon as he was sworn in Biden began to implement his policy, taking action to reduce the supply. The problem is much of our country and the world depend on fossil fuels for energy.

Reduced supply, coupled with the increased demand as the economy recovered from recession, meant prices skyrocketed. Energy prices rose 30% to 40% in one year. Overall consumer inflation soared to 7.5%, a 40-year high.

The reduction in domestic supply also meant the US would no longer be energy self-sufficient. Both the price issues and geopolitical issues are being seen today. At this point the proper action for the President to take is to reverse his policy.

To really hold prices down, he must increase supply by removing counter-productive regulations, permit drilling on public lands & off the coast of Alaska and allow construction on the Keystone XL pipeline to proceed. That action would significantly reduce future energy inflation in the US.

That would not only mean US energy independence but there would be surpluses produced that would be available to our allies. From an economic and geopolitical standpoint this makes sense.

Biden believes carbon emission from fossil fuels adds significantly to the rate of change in the climate. However, while there is general agreement in the scientific community that the world’s climate is changing, the impact of human activity on the acceleration rate is debatable.

Rather than token jestures Biden should make reducing inflation and helping to create a more peaceful world higher priorities than climate change. Failure to do so will lead to further, more difficult, problems.

FULL STORY

RELATED: A Return To Energy Realism?

The anti-fossil fuel holy war has been foolish in the extreme, and weakened the West’s geopolitical strength as well as economic vitality. The media is starting to notice and report that some of the green energy dreams are just that—dreams.

Slowly you can hear the gears grinding toward some changes. FULL STORY