US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected - much like they did when President Obama was elected - to some of the highest prices in history...
President Biden refuses to take any blame for this. Instead of realizing the climate-crisis-focused policies are impacting the fossil fuel supply chain before the replacements are ready to fill the void, he has blamed COVID and OPEC+ - driving America to be more dependent on foreign oil rather than increase production domestically.
OPEC+ made it clear this week what exactly they think of President Biden's proclamations by not budging from their oil-production plan and Bloomberg reports that Saudi Energy Minister Prince Abdulaziz bin Salman told reporters:
“Oil is not the problem... The problem is the energy complex is going through havoc and hell.”
Of course, always wanting to signal their virtue and follow the narrative - and amid the farce that is COP26 - Democrats have decided that this is the right time to offer a bill that stops banks from financing fossil fuel plans.
Senators Edward Markey and Jeff Merkley introduced the bill which would would require the Federal Reserve to mandate that major banks stop the financing of projects that emit greenhouse gas emissions.
The legislation would prohibit financing of new or expanded fossil fuel projects by 2022 and prohibit the financing of all fossil fuel projects by 2030. It would also prohibit thermal coal financing by 2025.
Which, of course, will lead to less development, lower supply, and higher and higher prices...
And finally, if that wasn't enough, shortly after commenting that "the Biden administration is very concerned about the price at the pump," here is how Jennifer Granholm, the US Energy Secretary, responded when asked by Bloomberg's Tom Keene how the Biden administration would increase crude production to meet demand and lower gas prices for average joe...
She added:
“It is not the president’s doing that is causing the oil and gas companies right now to decide to slow down. They were slowed down because of Covid,” Granholm said.
“Right now, we are not at the point where the build-out of clean energy is enough to supersede the need for fuels -- fossil fuels,” Granholm said.
“And so making sure that this winter that people don’t have to pay through the roof for gas, gasoline and natural gas is an important agenda item for the president.”
Not exactly reassuring to Americans whose cost of living is soaring.
Poster Comment:
Ol' Hairplugs Hitler, Sleepy Joe, The Sniffer, Pedo Joe, Bidet and his freakshow are really dealing from a position of power here.
81 million votes. Most popular pedophile ever.
#1: NeoconsNailed To: Esso (#0)
NeoconsNailed posted on 2021-11-05 14:35:19 Reply Private Reply
#2: TommyTheMadArtist To: Esso (#0)
He is doing the bidding of our enemies, not Americans. If he were doing the bidding of American Oil Companies, we would have affordable energy because we would be using more and they would be selling more as well as exporting more.
No, this was the democrat / socialist ‘ Traitor’s mission. To bankrupt everyone and then destroy this country.
TommyTheMadArtist posted on 2021-11-05 22:40:37 Reply Private Reply
#3: Esso To: TommyTheMadArtist, 4um (#2)
Right, I almost watched it in real time. Right, right, right on the rest.
I made a good call when I doubled down on my XOM investment at half price when the dividend yield went north of 10%. I was worried that they might shed the dividends (there were a lot of rumors), but the stock has taken good care of me.
Man, that's the second time I got lucky. The first time was when I went in, into phiz Au and Ag @ 904 & 9. Even a blind squirrel finds a nut once in awhile.
Esso posted on 2021-11-05 23:07:47 Reply Private Reply