Despite denial from the left-wing mob, Joe Biden’s anti-oil crusade has absolutely played a major role in rising gas prices, this is undeniable.
Joe Biden has worked to actively create roadblocks, for the fuel industry and prevent domestic production. Let’s not forget that inaction plays just as big a role considering how much the oil market relies on speculation of future prospects.
The United Arab Emirates announced its intention to up production by 800,000 barrels a day and the global price of oil plummeted by $22/per barrel. Aside from his damaging policy Biden continues to state his intentions to disrupt the fuel market in the name of climate change.
Let’s get into some specific policies.
On his first day:
Joe Biden suspended new oil and gas leasing on federal offshore lands, canceled the Keystone XL pipeline project which even CNN admits that the United States will come to regret. The President also foolishly rejoined the Paris Climate Accord without the consent of congress, which implies a slew of new regulatory action against the fuel industry which hurts future prospects and drives prices up.
Suspended oil and gas leasing on Native Lands in New Mexico & Louisiana
The President took action to suspend oil and gas leasing on lands belonging to the Navajo in New Mexico despite the Nation spoofing the ban.
The Navajo Nation wanted to be able to capitalize on natural resources that rested within their lands according to the Washington Examiner
The President also canceled an 80 million-acre oil and gas lease in Louisiana that placed their gas market in danger.
Biden justified his actions by citing “climate change concerns”
The small refinery waiver program
The federal government sets the parameters for how much biodiesel and ethanol is to be blended into the country’s fuel supply annually. However, a waiver program exists for small refineries that produce less than 75,000 barrels per day so that they can continue operations.
These small refineries offer an essential and difficult to replace the supply of oil and gas to Rocky Mountain states and rural areas like West Virginia.
Biden paused waivers citing an ongoing Supreme Court case. The case ended in June and the Justices ruled in favor of the program, directing the government to approve the waivers.
9 months after the conclusion of the case, Biden denied the waivers causing further disruption of the supply chain.
Rescinding reforms
Last spring, Biden signed a resolution that overturned Trump administration reforms to EPA oil and gas rules. This resolution put the red tape right back up and created another set of hoops for the fuel industry to jump through.