I’ve stayed away from talking about Biden, like I stayed away from Trump. I’m not going to try to change anyone’s opinion of either, nor will I change mine. Politics is poison, so I’ll talk economics instead (OK, I’ll make a few sarcastic points because, that’s why).
I do see how this problem can easily be solved.
Today, the President announced that he’s opening up the strategic oil reserve to bring down the prices. This is little more than a band aid to a problem rather than a solution. That reserve was meant for a crisis, of which we are not in right now. By crisis, I mean an attack, an actual climate disaster like a hurricane or a non man made disruption in fuel production.
When taking office, he shut down production of fossil fuels via the Keystone Pipeline, Fracking and other independent (of other countries) production of oil. All was done in the name of sustainable sources and devices like electric cars. What is not said is that the generators of electricity are fossil fuel based, even for a Tesla. Also not said is we are not ready for decades to leave oil as a base for our energy and electricity needs.
The cynical me steps back and looks at the executive orders signed and it seems that Biden is just against anything the previous president did. Lots of presidents do that. One of them was energy independence. Recently, he asked the Saudi’s to produce more for us, although we have the ability to be the largest producer and exporter. They thumbed their noses at us.
To me, if you produce more, the price would go down. It seemed to work a couple of years ago and there is no reason not to have it work again. Stop the restrictions on fracking (which helped reduce our carbon footprint btw), get rid of the restrictions on fracking and get rid of the bureaucratic laws against our being energy independent and the price goes back down. It has nothing to do with production anywhere else, other than driving down the price worldwide.
It would be a step in the right direction of inflation reduction.
Tapping the strategic oil reserved leaves us with our pants down in the case of an actual emergency.
I’m pretty sure most who have an IQ above a grain of rice could see this and know I’m stating the obvious.
Do I expect this to happen? Not a chance. I lived through lines during the Carter years and expect the same to happen until production returns. It’s simple economics.
It’s time to put pettiness aside and do what is right for the people of the country. It’s not getting better than it was. Cutting fuel costs would be a good start.