New federal oil and gas drilling was put on hold indefinitely by the White House over the weekend. Why? We can’t start drilling for new oil wells because a judge found that the $51 per tonne number it used to measure the “social effect of carbon” from fossil fuels was “artificially” inflated.
It was the president’s decision not to follow the judge’s verdict and lower its estimate, so he turned off the water.
The timing couldn’t have been worse. Because of Russia’s incursion into Ukraine, global energy supply and prices are in jeopardy.
There has been a “monitoring” of oil supply during the crisis, according to Biden himself on Tuesday. Moreover, according to him, he was striving to “blunt” the impact.
When the federal oil supply is cut off, the United States will be left in the hands of foreign countries. In 2020, for the first time in decades, the United States became self-sufficient in oil production.
The rise in oil and gas prices had a much less impact on our economy.
As a result, we felt more confident. Irresponsible governments in the Middle East did not require our involvement. As a result of this, we did not have to turn to organizations like OPEC for assistance in dealing with supply issues.
As a result of gaining control of our own energy supply, we became both wealthier and safer. Biden has, however, brought an end to this.
As soon as he was inaugurated, he launched an Energy War. Keystone XL was cancelled, fossil fuel companies were put on edge (by congressional subpoena) and an unrealistic and expensive 50% reduction in emissions by 2030 was pledged.
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Politicians who are obsessed with global warming aren’t concerned about the problems it will inflict on the average American.
Alternatively, we may talk about national defense. Biden, on the other hand, is caving to their demands, endangering the safety and prosperity of the United States.