Now who could have seen that coming - Oil

| No Comments

My surprised face again - from the London Daily Mail:

Biden asks Saudi Arabia and OPEC to produce MORE oil as inflation sends gas prices soaring - after HE shut down America's Keystone pipeline

    • Prices at the pump are about $1 higher, 42%, than they were one year ago
    • OPEC+ cut production by 10 million barrels per day at the height of the pandemic, and has only slowly started to increase production again
    • 'This is simply not enough,' National Security Adviser Jake Sullivan said
    • Republicans have blamed Biden’s shift toward green energy, which includes nixing the Keystone pipeline permit and pausing new federal oil and gas leases

The Biden administration is sounding the alarm about fast-rising energy prices and demanding that Saudi Arabia and OPEC produce more oil - after the president paused all federal oil and gas leases.

Prices at the pump are on average about $1.00 higher, 42%, than they were one year ago.

'Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery,' National Security Adviser Jake Sullivan said in a statement Wednesday.

He called on the world's largest oil producers, including OPEC nations and Saudi Arabia, to up their production.

Heh - they own this.  Lock stock and barrel.  The Democrats shut down the pipeline on day one and now they are having to deal with the unforeseen (yeah riigghhhttt) consequences.  Why did they shut down the pipeline?  Because their bagmen make so much money shipping the oil by railroad.  Warren Buffet and others. Rail is a lot more expensive for shipping so the energy prices necessarily skyrocket.

The Democrats understanding of capitalism and basic economics is about at a 6-year old level.
Fits their personalities.

Leave a comment

March 2023

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

About this Entry

This page contains a single entry by DaveH published on August 12, 2021 8:38 AM.

And that is it - nothing on the web was the previous entry in this blog.

And out for the day - Bellingham is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Monthly Archives

Pages

OpenID accepted here Learn more about OpenID
Powered by Movable Type 5.2.9