It is clear where President Biden’s priorities are. He issued a ban on new oil drilling to satisfy the environmentalists causing gas prices to double. However, with his ratings falling because of inflation fueled by rising fuel prices and his out of control spending, he apparently had second thoughts about restricting our oil production. He apparently hoped to cut his party’s losses in the off-year elections, and bowed to public pressure to cut gas restrictions to allow a drop in gas prices. He agreed to open new gas drilling and gas prices started to fall slightly. However, due to pressure from environmentalists, who contribute to his party’s campaign funds, he has now restored the ban on new drilling and prices have begun rising again. Apparently he is more concerned about the source of his campaign funds than about the voters that elected him and who might not vote for his party in the upcoming election.
Posts Tagged ‘Gas Prices’
Gas Prices-J
I just checked gas prices to fill up the car and the price has been going up for three weeks straight. A lot of it is due to the fighting in the Mid-East. Most stations are about $3.29 a gallon compared to $1.75 a gallon when President Biden took office. President Trump pushed America to be independent of Arab oil prices which lowered gas prices since it didn’t have to be transported from the Mid-east and profits went to American workers and investors. Under President Trump, gas prices would not have been affected by the war, but now the fighting is pushing prices up still further. President Biden forced cuts in America’s oil production forcing us to buy oil from Mid-Eastern countries which has to be transported by ship, greatly increasing the cost. A lot of that oil goes through the Suez Canal and the shipping lanes near the Arab States. Arab terrorists have made travel in the region difficult and many are oil tankers who are opting to go around the south of Africa to avoid it, which creates extensive delay and a lot of extra cost. In addition, there is nothing to prevent the Arab countries from raising prices to hurt the American economy, like they did in 1974. The profit from Arab oil goes to Arab countries who supply our oil and much of it goes into the pockets of rich Arab rulers who in turn support Arab terrorist activities.
Gas Prices-I
Many people complain about the high cost of gasoline but do not realize the full impact that high oil prices have on the economy. Many companies rely on parts to be shipped to them and most stores have goods shipped to them. Increases in gas prices increases the cost of shipping and raises the cost of goods at the store. In addition, many people commute to work and increased gas costs increases the cost of getting to work. In addition, many homes and businesses heat with oil and the higher cost oil also increases the cost of heating. Yet few people getting raises to cover the higher cost and many people are seeing cuts in hours as businesses try to cut costs. In 1974, I worked for the welfare department (now Job & Family Services). Gas jumped from $.50 a gallon to $1.00 a gallon overnight when the Arab States raised the cost of oil. A 100% increase in cost. We were dependent on them for oil at the time and many companies went out of business and a lot of people were thrown out of work. My caseload increased from 150 cases to 250 cases within a year and I had to take time off my caseload one day a week to do intake on new clients. Though the increase is not as fast today, it is still hurting an economy already hurting due to the poor economic policies of the current administration.
Gas Prices-H
When President Biden took office, he cut of construction of the pipeline from Canada and cut back American oil production. He said it was to protect the environment but it merely transferred the problem to the countries that produce the oil and increases the risk of pollution because the oil has to be transported overseas by tankers and runs the risk of oil spills. Pipelines are safer because the pipeline is underground and isn’t subject to storms and collisions. The only justification for shifting to overseas oil is that it sends the profits to the Arab States instead of keeping them here in the United States and Canada. In addition, the Canadians turned to China to sell the oil that the United States would not be buying, since the Canadians already have a pipeline to the West Coast, which benefits China. In addition, it hurts us because it costs American jobs and the Arab States use the profits to support terrorism. However, the biggest problem is the threat that is not obvious. When we became dependent on Arab oil, it allows them to raise their prices since they don’t have to compete with American produced oil. The Arabs are now doing that further threatening America’s unstable economy. Since we have discontinued the pipeline construction and cut our own production, we can’t just increase production to force the price down. It will take time to reopen the wells and complete the pipeline.