Joe Biden Waves the White Flag on Gas Prices – Opinion

Prices for gas have increased dramatically since Joe Biden was elected, rising to an average of $1 per gallon. This is before Russia invaded Ukraine. After that, prices rose even more as sanctions went into effect. But, recently, they have stabilized somewhat.

And while the White House has been diligently trying to blame everything on “Putin’s price hike,” polling consistently shows that Americans blame Biden’s policies for the current price hikes, not just on fuel, but across the board. It is clear that policies like freezing federal oil leases and cancelling pipelines which could raise supply but lower refining costs, have had an effect.

Biden’s administration, in response to this climate change hooliganism, has refused to do anything to assist working class people. That’s about to change, though.

Multiple reports claim that the White House will finally open the lease process in order to increase production. Of course, there’s always a catch with this incompetent administration, which we’ll get to.

On Friday, as pressure mounts on President Biden’s administration to reduce fuel prices, the Interior Department announced plans for its first ever onshore oil-and gas lease sales.

The department announced that it would open up approximately 144,000 acres to lease next week. Oil and gas companies will be charged higher royalties to drill in federal land. The plans were unveiled on Friday and would see oil and gas lease sale royalty rates rise to 18.75 percent, from 12.5 percent.

This will help ease some oil price pressure and supply more natural gas to Europe. Europe is trying to get rid of Russian imports. Even though production may not start immediately, it could take several months or even years. However, the energy market is speculative, and any future announcements of production will be made.

But, the extent to which this is a positive will depend on how profitable leases that are available. Because the White House is run by far-left loons who believe oil from Venezuela is somehow preferable to drilling domestically, they are raising the royalty rates fairly dramatically–from 12.5 percent to 18.75 percent. Some leases are still worth drilling on. Others that could have been more profitable might no longer make financial sense. Why now, out of all the possible times to increase rates? We know why, and it’s ridiculous that politics continues to play such a large role while Americans watch their bank accounts dwindle.

Speaking of politics, it’s also worth noting that the Biden administration insisted in March that more federal leases would make no difference.

If Jen Psaki is breathing, she’s lying. The assertion that more domestic production wouldn’t help lower the cost of energy was a ridiculous contention. It is also misleading to claim that nearly 9,000 leases have been unused. Oil and gas companies don’t sit on leases for fun. They sit on them when it’s too expensive to drill. The only way to solve this problem was to create profitable leases, and that’s what the White House has decided to do in spite of its previous protestations.

In summary, it’s good to see the federal leasing process open back up, even if it meant dragging Biden to this position as he kicked and screamed. The introduction of increased royalties, which will have a devastating effect on the American people’s lives and limit their impact, is a bad idea. So yeah, it’s your typical Biden boondoggle.

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