President Joe Biden achieved in just 14 months what many considered impossible – surpassing President Jimmy Carter as the most incompetent governor of the American economy.
Biden has just broken another record, leaving Americans burdened with 8.5 percent inflation – energy alone has risen 32 percent from last year.
BIDEN ADMINISTRATION RENEWED OIL AND GAS RENTALS IN FEDERAL LAND TO MEET THE RISE OF GASOLINE PRICES
President Joe Biden’s caricatured sticker showing high gasoline prices on a gasoline pump is seen in Lafayette, California, November 9, 2021. Image courtesy of Sftm. (Photo by Gado / Getty Images) (Gado / Getty Images)
Those of us who lived in the 1970s remember the fuel lines at the dispenser, the staggering inflation and Soviet aggression. America seemed to be collapsing. What Carter called “malaise” was in fact the product of his terrible policies that hollowed out the middle class while inviting tyrants and opponents to the test of American strength.
When our leaders fail to learn the lessons of the past, “history does not repeat itself, but it rhymes.” President Biden’s actions so far appear to come directly from President Carter’s handbook.
Over-spending and anti-supply policies contributed to the worst inflation since Carter. Instead of invading Afghanistan, the Russians invaded another neighbor: Ukraine. But they were encouraged to do so by President Biden’s disastrous withdrawal from the same country – Afghanistan – where the Soviets were plunged into a war they could not win. And of course we have a disastrous Carter-era energy policy leading to record high prices at the distributor and a missed opportunity to ensure stability in Europe.
Biden aims to exclude federal lands and waters from the energy exploration game – the Gulf of Mexico alone accounts for 15-16 percent of US oil production. Its regulators made it almost impossible to build new gas pipelines or build liquefied natural gas (LNG) installations. Massachusetts alone accounts for 60 percent of the US’s LNG imports, while neighboring Pennsylvania has enough energy to be the world’s fourth largest producer if it were its own country. But liberal politics made it impossible to transport energy from Pennsylvania to the north and east.
Biden is now resuming nuclear negotiations with Iran, in part to bring more Iranian oil and gas into the European market. The irony of this policy, and of Europe’s continued reliance on Russian oil and gas despite sanctions, is that many US sources of natural gas are cleaner than those that hostile nations can market. In other words, by opposing domestic production, environmental radicals make it possible to increase emissions on a global scale. The hypocrisy is stunning.
If Americans are not yet aware of this, let’s make it clear: energy security is national security. And either America will return to the policy of flooding the global market with our resources, helping to free friends and allies from hostile sources, or we will strengthen and embolden tyrants in the Middle East and Moscow.
The price Americans pay at the pump began to rise long before Russia assembled troops on the Ukrainian border. From January 2021 to October 2021, gasoline prices increased by 99 cents a gallon.
FILE PHOTO: An oil worker walks towards an oil rig after placing ground monitoring equipment near an underground horizontal drill in Loving County, Texas, US, November 22, 2019 (Reuters / Angus Mordant)
In response to soaring prices, Biden took advantage of the Strategic Petroleum Reserve – oil stocks designed to protect the United States from real emergencies such as natural disasters and foreign conflicts that disrupt production rather than incompetent energy policy. The president’s current depletion of this reserve has meant that about a third of his total has been wasted on Biden’s pricing efforts and providing only 1.4 million barrels a day aid, which have been eradicated by his administration’s inept policies.
Hurricane season is fast approaching in the oil and gas producing Gulf of Mexico. We can only hope that the real crisis will not happen as Americans will face further supply cuts.
Republican activists get the attention of drivers who are working on voter registration for their party at a gas station in Garden Grove, California, USA, March 29, 2022 Photo taken March 29, 2022 REUTERS / Mike Blake (REUTERS / Mike Blake)
Biden and the liberals in Congress are now on track to restore the windfall tax – Carter ‘s favorite. Its budget proposal for 2023 includes 11 catastrophic tax increases from the fossil fuel industry. The latest inflation figures should send a clear signal to end this disastrous war against fossil fuels.
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We are already dealing with a sharp increase in gas prices. American consumers in the southwest are crossing the border with Mexico to save on refueling. For a nation that has such an abundance of energy, this is unacceptable.
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President Carter took office during a difficult period for the US economy, and his policies led to further difficulties for Americans and created a period of economic recession. Biden is now well on his way to repeating this mistake, and his repeated misunderstanding of energy is the driving factor.
President Biden should recognize the crisis facing the US economy and just get out of the way and let American energy bring relief to the American people.
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