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Remember the good ole days… way back in 2020… when the United States was an exporter of energy and the price of gas was $2.17 per gallon? Today, the United States – and indeed the world – is in a self-inflicted energy crisis.
Globally, the energy sector is a complete disaster. “Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of ‘the first truly global energy crisis,’ the head of the International Energy Agency (IEA) said.”
While the Biden government celebrates the price of gas coming down from its summer highs, Americans are still being hurt at the pump, and it is still impacting our supply chain. In addition, the President is actively attempting to rewrite history by claiming gas was more than $5.00 per gallon when he took office.
It was not.
The average price of a gallon gas in the United States is $3.76, per AAA. This is up from $2.40 per gallon the week after Joe Biden was inaugurated as President in 2021.
The cost of diesel, the fuel that fuels our supply chain, is $5.34 per gallon, up from $2.73 when Biden took office.
It didn’t have to be this way. Biden’s war on fossil fuels and the push for the “green new deal,” is certainly to blame, too.
In January 2021, President Biden signed executive orders directing the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters.
President Biden also revoked the permit for the Keystone XL pipeline. He then paused oil and gas leases in February 2022.
As gas prices surged over the summer of 2022, the Biden administration didn’t relax regulations to unleash our energy power. Instead, the President begged countries such as Saudi Arabia and Venezuela to pump more oil. He even went as far as to ask Saudi Arabia and the OPEC+ nations to delay their decrease in production until after the mid-term elections.
The results of Biden’s energy policy have been devastating to the American people and our national security.
“The Biden administration is the first White House to repeatedly draw down the emergency stockpile over several months in an explicit bid to lower prices at the pump.”
The Biden government will release another “15 million barrels of oil from the Strategic Petroleum Reserve… in a bid to drive fuel prices down.” This will bring the total number of barrels released to 180 million since March. The nation’s strategic oil reserves are now at their lowest levels since 1984.
We are also seeing an unprecedented decline in the nation’s diesel fuel supplies. Per Reuters, stocks “of diesel and other distillate fuel oils were just 106 million barrels on October 21, the lowest… since the U.S. Energy Information Administration (EIA) started collecting weekly data in 1982.” The United States is now down to less than 25 days of supply of diesel fuel.
To make matters worse, the United States “has just a 26-day supply of heating oil… the smallest store for this time of year in at least three decades… heating costs this winter are already forecast to be the highest since at least 1997,” per Bloomberg.
So, we have reached a near-perfect disaster where the government has declared war on the fossil fuel industry, our “allies” have cut supply, and we are about to run out of diesel fuel just before the holiday season, so the retail industry will be devastated. In addition, you probably won’t be able to heat your home if you live in the Northeastern portion of the United States.
I don’t know about you, but I will take mean tweets and $2.00 gas any day of the week.
Reporting from The National Pulse.
