Who deserves credit for the recent drop in oil prices?
For months, we have been told by the Biden administration that the reason for the high gas prices is Vladimir Putin's war on Ukraine.
The purpose of those talking points is to divert blame from Biden's policies to destroy the fossil fuel industry.
Now that prices have come down a little, Biden and his people are claiming credit for the price decline.
Here's the latest from Biden's White House economic adviser, Jared Bernstein, in a press briefing off the White House website:
While there's a lot that goes into setting the global oil and gas price, the historic actions taken by President Biden to address the impact of Putin's invasion of Ukraine have helped and continue to help to increase the global supply of oil and therefore are in the mix of factors driving down the price.
Because the President's announcement on releasing 180 million barrels from our Strategic Petroleum Reserve and another 60 million from our global partners was back in March, I suspect there are people who forget about this critically important intervention in energy markets. But this action is very much in play in today's market, currently releasing a record 1 million barrels of oil per day on average and 84 million barrels so far.
These releases have had an outsized effect at a time when the market is especially tight.
The Biden administration truly deserves credit for both the huge rise in prices and the minor fall in prices. Throughout the campaign, and as soon as Biden took office, he stated that his goal is to get rid of fossil fuels. That sent the message to traders, speculators, and producers throughout the world that the U.S. would no longer be a major competitor on the global markets, and prices soared.
The record high prices of energy then contributed to already raging inflation throughout the economy, brought on by federal spending and money-printing, and the public's purchasing power was decimated.
The media also get major credit for the high prices, as they have participated for a long time in the effort to destroy the fossil fuel industry. They have indoctrinated the public into believing that the fossil fuel industry is destroying the planet, by just repeating what they are told and using easily manipulated computer models that have been completely wrong with previous dire predictions. They have been willing to do this without asking for scientific data to justify the destruction or doing any research. It is impressive that they have made so many believe they should buy expensive, inefficient electric cars that run on a highly flammable pollutant.
The media and other Democrats should brag that their intentional attempts to destroy the oil industry are a great boost to Putin's cash flow, and that is allowing Russia to destroy Ukraine. It is an indisputable fact that Putin began his aggression in Ukraine while Obama was president in 2014, and now, with Biden as president (while launching no new attacks while Trump was president), Putin's stepped up his war on his neighbor.
Germany and other European countries should also get "credit" for high prices and energy scarcity there, because they laughed off that supposed idiot Trump when he warned them that it was a terrible policy to become more dependent on Russia for their energy.
Now they seem shocked that Putin is destroying them with high prices and cutting off their supply.
Now they are claiming credit that energy prices are down at this point. On a side note, let's not forget: after Biden was extremely tough and persuasive with the Saudis during his recent trip there, crude oil is up $4 on the spot market, and gasoline is up over 11 cents per gallon on the spot market. Sound as though Biden knows what he's talking about as he claims credit for falling energy prices?
It is also great that the media and other Democrats continue to pretend that politicians and bureaucrats, who can't control health prices, a virus, inflation, crime, and the border, can somehow control sea levels, temperatures, and storm activity forever if they are allowed to destroy the fossil fuel industry. That's the same fossil fuel industry that directly and indirectly employs tens of millions of workers, and which has greatly improved our quality and length of life. Don't worry — if we just give up trillions of dollars and give the greedy government more power over all aspects of our life, bureaucrats will be able to control the climate and all its variables, they effectively claim.
Why would anyone believe that? Won't life be wonderful without the thousands of products derived from crude oil?
The people who pretend they can control the climate if they just are allowed to confiscate trillions of dollars, and destroy industries have also pretended:
That Obamacare would lower costs, and you could keep your plan and your doctor.
That women can do whatever they want with their bodies, but they must be fired from their jobs if they refuse a vaccine that doesn't prevent a virus.
That they care about fairness and women's privacy, yet they will force them to compete with men in sports and force them to share locker rooms and showers and jails with men.
They want to get rid of anything with racist history unless it is Planned Parenthood, founded by a woman who had racialist notions about what kind of people she wanted to populate the Earth, and founded an organization that kills black and brown babies at a much higher rate than their percentage of the population.
They are for health care for all, yet they vote against the "Born Alive" bill, a reasonable measure to save babies who survive abortions. They just let fully born babies die.
That they care about children's mental, physical, and financial health, yet they kept children out of school because their teachers' union members wanted to teach remotely. Science didn't justify the closing of schools. The short- and long-term harm to children is immeasurable.
That they want poor and minority kids to get a good education, yet they block charter schools and vouchers that help them at the behest of their special interest groups.
That they cared about kids at the border during Trump years, yet today they won't even visit the border. They don't seem to care about all the criminal activity at the border, sex-trafficking, child-trafficking, unaccompanied minors, cartel profits, or all of the deaths as a result of it.
That they are the party of science, but they want to regulate CO2, a clear, innocuous, non-pollutant gas, while they promote lithium, a highly flammable pollutant.
Why would anyone believe politicians and bureaucrats who can't handle small things and who repeatedly lie, when they claim they can control the climate with a massive number of variables, and when the climate has changed cyclically and naturally for billions of years? Heck, these people can't even keep baby formula in stock.
Why would anyone believe what Michael Bloomberg, Bill Gates, Al Gore, Barack Obama, or John Kerry says about the dangers of carbon footprints when theirs is so huge?
And remember: it is OK for the president to deal with Iran, Saudi Arabia, and Venezuela, but if you are a professional golfer, you are deplorable if you play in a golf league sponsored by the Saudis. Can anyone spot the hypocrisy?
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