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The Daily Planet's Opinion: Biden reverses his stance (hooray!); urges U.S. oil companies to drill ... more
Thursday, 10 November 2022 21:58

In a stunning turnabout of his administration’s policy, President Joe Biden complained on Nov. 3 that oil companies are not drilling enough for oil, despite his long history of trying to block oil and gas production in the United States.

“We haven’t slowed them down at all — they should be drilling more than they’re doing now,” Biden insisted, according to a report by Breitbart News. “If they were drilling more, we’d have more relief at the pump.”

According to reports, the president spoke about high gas prices during a trip to New Mexico to campaign for Democrat candidates.

“Biden, however, has acted several times during his first two years in office to lower the production of oil and gasoline in the United States,” Breitbart noted.

Meanwhile, The Wall Street Journal pointed out that “Biden has leased fewer acres for oil and gas in his first two years than any other administration at the same point in time since the end of World War II.”

To the WSJ’s assertion, Breitbart added, “In January 2021, Biden also issued an executive order freezing oil and gas leases, a decision that has been tangled up in the courts.

“He also suspended oil production leases in the Arctic National Wildlife Refuge, after former President Donald Trump opened up the vast oil reserves for production.

“Biden also ordered the halt of the Keystone XL oil pipeline, which would have moved 830,000 barrels of crude oil from Canada” to the U.S.

Oil companies are less motivated to invest in long-term oil production since  the president campaigned on the idea of ending fossil fuels.”

To that end, Biden said in March 2020: “No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period.”

The president “complained during his campaign speech in New Mexico that the oil industry had not met its commitment to the American people by charging too much for gas and making billions of dollars in profits,” Breitbart stated.

Referring to the spike in oil prices after Russia invaded Ukraine, Biden asserted, “These outrageous profits are the windfalls of war.”

The president threatened to target oil companies with more taxes, by saying, “Either invest in America or pay higher taxes for your excess profits and face restrictions,” Breitbart reported.

The flipflop on oil drilling — probably due to political pressure —  has come just in the nick of time for our energy-rich nation that is enterimg wimter with worringly low fuel supplies (at sky-high prices) to avoid a crisis.

 



 


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