How do you think President Joe Biden is dealing with rising gas prices? The president ordered a series of oil releases from the Strategic Petroleum Reserve–one million barrels per day for 180 days–in order to lower costs. It is a terribly bad decision that will take money from our savings accounts in an era of high inflation and global instability. It will not increase oil production over the long term. The reserves are meant to be accessed in times of need, not when there are alternatives.
Why is he doing this? Because of purely selfish political reasons. His poll numbers and those of other Democrats are in the garbage. He is aware that if they don't do something and act fast, the Republicans will take them down during the next election. It's funny how the 180-day period will bring us right to the beginning of the midterm elections. It's not right to put national security at risk by doing this, particularly since there is plenty of oil to meet US domestic needs and the demands of international allies. The U.S. should focus on the need to increase production to achieve energy independence, despite the Biden/Democrat stance on fossil fuels.
However, White House Chief of Staff Ron Klain heralded the announcement of the release as “HISTORIC.” Historic: just like Hindenburg, the lost city of Hindenburg.
The Gas Buddy's Patrick de Haan said it was a baffling decision.
“Biden's plan to release one million barrels of oil per day for up to six months is yet another pretend action to reduce gasoline prices,” said Steve Milloy, the founder of JunkScience.com and a former member of President Trump's EPA (Environmental Protection Agency) transition committee. “U.S. consumption is about 18 million barrels per day so Biden's plan can and will have no meaningful effect on oil prices, especially given current pipeline and processing constraints,” Milloy stated. “The only way out of the inflationary spike in oil prices is to unleash domestic production, including more pipelines and refinery capacity, which Biden refuses to do because of his climate agenda.”
Milloy is right that this isn’t something President Biden is keen on doing. In fact, he stated that oil companies that aren't producing through leases (likely due to the fact that they aren't able to because of the absence of petroleum or Biden’s restrictions) are now facing sanctions. As we noted earlier, he's also going to attempt to impose huge taxes on the leaseholders in his budget, which could then be passed on to the consumer in the same way, as House Speaker Nancy Pelosi (D-CA) admitted.
As he tries to punish oil producers, Biden is all-in to push for renewable energy. Biden officially invoked the Defense Production Act to dictate to private businesses in an effort to “secure American production of critical materials to bolster our clean energy economy,” specifically the raw materials needed to create the batteries used in electric cars. Therefore, he's using the Act not because of a crisis such as an outbreak of war or a pandemic, as originally thought, but to assert his personal political agenda to change the way energy is produced in the United States. This is the intention of this Act, and it's an illegal act of an administration dictating to the private sector.
The fundamental change is the entire point, and that's about making use of this moment to further their plans. Biden stated that switching to electric vehicles could save the average driver $80 each month in gas. What he didn't mention is how Americans who are already stressed and aren't able to pay for Biden's high inflation and gasoline prices will be able to afford that costly electric vehicle, which can run at $55,000. Yet, Joe Biden wouldn't be Joe Biden without combining bad policies, incompetence, and deceit with confusion and cognitive problems.
If you're interested in knowing the amount of assistance Biden will need, check out his huge teleprompter. It is very large, and yet, he's always looking at it with his eyes and mumbling up the words he's supposed to use. A recent muddle of a word salad regarding allies proves the point. He wasn’t getting the message out, even using the remote prompter. Why couldn’t he understand it? Why would anyone “unite with us,” as he says, when they observe leadership of this kind? You can see what happened to America’s friends in Afghanistan. He has done a lot of harm to the U.S. through his actions.