For those Americans who are foolishly claiming that the skyrocketing price of crude oil and gas is Putin’s fault, here is some news for you - it is the Biden administration’s fault. We need plenty of affordable gasoline and Diesel to run our complex and exceptionally large economy.
He closed oil leases, fracking, offshore drilling, and the XL pipeline which was delivering gas from Canada. He did this on day one and the price of crude and gas started to escalate immediately. Crude oil is being transported by rail (powered with Diesel or electricity created by burning coal and other fossil fuels), instead of transporting it via the much cheaper pipelines!
The U.S. became overnight an oil importer again instead of an oil exporter. It was Biden’s plan all along to destroy the fossil fuel industry to replace it with the pie-in-the-sky green energy delivered by expensive, inadequate, and insufficient solar and wind power.
The U.S. became overnight an oil importer again instead of an oil exporter as it had been under the Trump administration and the “mean tweeter president.”
OPEC took advantage of this situation of a weak and partisan president and refused to increase production, thus further escalating the price of crude oil per barrel.
Speculators entered the fray and affected the price as well on the Chicago Board of Trade. Futures price are sensitive to the political environment, the people’s fear of their government’s policies, turmoil around the world, and when their future looks bleak.
The fact Democrats and some Republicans have voted to print dollars without any backing of goods and services, creating high inflation, highest in forty years, and then spending trillions of dollars we do not have, like drunken sailors, has devalued our U.S. dollar, the currency in which crude oil is priced and quoted around the globe.
The economic and energy situations are quite dire. Supply and demand for crude oil, gas, and Diesel are also out of order due to the economic effects of the lockdowns and other labor and economic decisions made by U.S. corrupt politicians, further exacerbating the price increases.
One citizen in the Washington, D.C. area, stated on Friday that she has 7 children and must fill up the van with gasoline every four days. Each time it cost $100. This translates into $750 a month just for gasoline. Middle class Americans must decide whether they eat, drive their cars, or pay their mortgages/rent.
This terrible economy is entirely Biden’s fault and the fault of those who voted for him and thus for the destruction of our economy. Your unwise vote is putting most of the middle class in a poor house filled with shortages and high inflation.
The economic and energy situations are quite dire, and it's all man made!