According to the White House, rejecting Keystone XL and restricting oil and gas leases in the name of combating global warming has no impact on gas prices. Joe Biden was only a few days ago claiming that his climate change legislation was not affecting rising petrol costs.
President Joe Biden believes that lower oil prices have resulted in lower petrol costs. Of course, most of us are aware that this is a total fabrication since we have a rudimentary understanding of economics. When the supply of oil is reduced and the price of oil rises, the price at the pump increases as well. The recent increase in gas prices nearly closely matches the rise in oil prices.
The president is directly affecting the price of gasoline by boosting the costs of drilling on public leases. If the White House increases costs in the name of combating climate change, people will pay more at the pump.
Is it true that pumping oil from Saudi Arabia to be burnt in Texas produces less emission than pumping oil from North Dakota? Even if we believe strongly in climate change, boosting expenses on American consumers is counterproductive. If one is worried about the environment, drilling oil in the United States is preferable, as US rules and regulations result in cleaner extraction.
Moreover, Inflation is out of control, yet Biden won’t even allow Americans to reduce gas costs amid their financial distress marginally. Meanwhile, elected leaders are unconcerned about the suffering they are creating because this isn’t about genuinely reducing emissions to them. Instead, it’s about relentlessly virtue signaling and punishing ordinary Americans for alleged environmental crimes.
The whole presidency of this man has been a gigantic middle finger to the middle class. Every step of the way, President Biden has managed to squander the opportunities for success and prosperity that his predecessor tossed into his do-nothing lap.