Except perhaps, to enrich our enemies in Iran and Venezuela instead of Russia, because increasing US production to the level Trump had it at is bad per Biden the Democrats, even as he lies and claims he's doing all he can to increase production and conveniently forgets his closing of Keystone and multiple oil and gas leases.
Youtube: President Joe Biden bans all Russian oil imports over Ukraine invasion
Do note he was rather late for the scheduled 10:45 am announcement. claiming he was on a phone call. Probably they had to pump him up full of Adderall and wait for the Aricept to kick in before having him make the address.
At the end of his short address, he then refused to take a single question, and quickly walked out of the presentation room without looking back.
Biden did an excellent job of demonstrating the "Old Man Yells at Clouds technique" during the address, threatening American oil producers and accusing them of price gouging.
Yet again in Biden-land it's the wreckers and kulaks to blame, when instead the increases began and are are due to his energy policies pre-Ukraine crisis and his inflating the economy by throwing trillions at it. Note we weren't importing 8% of our oil form Russia pre-Biden. The Ukraine crisis is just making all this worse and showing the bad choices by Biden and the Democrats that got us here.
Biden also trumpeted his release of 30 million barrels from the strategic reserve - the same release where oil prices went up the same day of the release. Brilliant and effective strategy there.
He also had the occasional weird stumble where he clearly was tripping over his words and changed statements mid-stream.
In short gas and oil prices in the USA are going to go up even higher, prices of items dependent on transportation (ie just about everything) will also go up higher, and the Biden Administration has no solution for it and refuses to push for the one solution that might alleviate it - a rapid increase of American oil production with the Administration getting the hell out of the way and cutting the red tape they've laid to stop it, not to mention the need for immediately reversing his policy of closing oil and gas leases on federal lands. Chance of him doing so? Slim to none but watch the polls to influence his actions, just as they did with Covid - assuming he can win over the prog-greenies to the necessity of it.
Top Men are really running this show. Top. Men.
1 comment:
You can expect $160 oil and gas over $5 before this is all over.
And likely the price will stay near that high over the summer even if the conflict in Ukraine ends due to other supply issues.
Much of my investments are placed planning on that. SO far I have made 20% this ear alone based on higher oil prices. Putin's actions merely raised the prices higher. It's gonna pay for my next plane....
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