Am I hearing correctly that Biden would rather made deals with Iran and Venezuela instead of reopening our domestic drilling???
The deception about the oil situation is just incredible. Lie one, we're producing more oil now than during Trump's first administration. First of all, because of Biden's successful energy policy we're producing more than we produce during Trumps first year. Oil production that first year was low because of the restrictions of Obama. However, it just proves that we're producing more than the final three years or they would have said so. Second, lie, increasing our domestic production and oil from Canada via the Keystone pipeline won't lower the price of gasoline faster than converting the population to electric vehicles. I know that there are some people who buy everything the Democrats say, but in this case there can't be many. I'm sure just about every American will be lining up to buy a 60,000 EV. Third lie, there are 7,000 leases going unused that shows that there is plenty of domestic oil to be produced without relaxing the government shackles. Many of those leases are unproven oil rich or have been completed. Additionally government regulation such as their rejection of pipelines make using many others. I believe under Trump there were over 40,000 leases. Fourth, getting OPEC and foreign produces to increase production will lower the price of gas. Dose he really believe that OPEC, Iran, and Venezuela are going to do us any favors? Does he think that they'll voluntarily lower their prices? The driving force behind this mess is the environmentalists who are obsessed with "Climate Change." It's ruining our economy and weakening our security. They were right about one thing... it is and EXESTENTIAL THREAT. (Because it makes them act irrationally) Editor's note. If my posts are even more dizzy than usual it's because I had my right hip replaced yesterday and I'm flying on some high powered meds.)
When will cars again be available, much less EVs?? There is already a line, and it hasn't moved in a year! When the leases are held on private land, permits to develop the oil field are easy to get (weeks to months). When the leases are held on public land, permits to develop take much longer (many months to over a year). Further, investment capital doesn't even start to flow to develop the leases when the industry has this much uncertainty; oil development under Obama/Biden and Biden/Harris are much less likely to result in profit than under Trump. And that isn't even considering the risk of developing a lease that has no producible oil. You know what else chills investment? Skyrocketing inflation. You know what else chills investment? Increasing the cost of borrowing (interest rates are going up to 'combat inflation'). Do you remember when GDP growth of 1% was 'the new normal' according to Obama/Biden? Do you think that was caused by choices that administration made? Do you remember when 'the new normal' was proved a lie and GDP growth became a raging inferno? Hard to believe that it only took a year for Biden/Harris to reinstall 'the new and improved normal' economy. When the pain to the American People is in alignment with their pet message, removal of that pain will never be a priority to those politicians.