Every time we turn the corner over the last six months it seems like President Joe Biden is dipping back into the strategic reserves for more oil to keep fuel prices better balanced. With OPEC+ now standing ready to cut production levels to send prices up, this is a move being done to help counter that loss.
Unfortunately for Joe and the economists with a sixth-grade understanding of economics that Jill must have hired, this does nothing but kick the can down the road. OPEC+ won’t suddenly up production to counter the release of the strategic reserves. They won’t keep prices down for any reason. Fuel producers won’t destroy their revenues to keep Americans in cheaper fuel either. So after we burn through this latest release, the loss of OPEC+ production will hit us.
According to White House insiders, President Biden is expected to announce this release on October 19th. With 400 million barrels in the reserve, the country is at its lowest level of reserves since 1984. This follows a previous release of 180 million barrels over six months that started back in March.
Undertaking these kinds of changes is not easy for Biden to do. It not only kicks the can down the road for Americans, but it also spits in the face of his moronic “Green New Deal” idea. As much as the man wants the US to go green with energy, the nation just is not ready for it yet. This is something neither he, his infrastructure leader Pete Buttigieg nor the rest of the liberal left seems to grasp.
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As it stands now, the OPEC+ drop in production is expected to be 2 million barrels a day. With Biden reportedly considering a release of 10-15 million barrels of oil, it won’t even cover a full week’s worth of “losses”. So, like everything else he has done for the country lately, it only harms us and fixes nothing.
Now mind you, all of this is coming due to Biden accusing Saudi Arabia of siding with the Russians, and promising consequences for keeping fuel prices up via supply cuts. Naturally of course this prompted a response from one of the country’s many princes. After reminding Biden about being the home of jihad and martyrdom, the message was clear, Biden and the US can f*** around and find out.
With Joe being unable to accept the stance on green energy the US currently has, we are in a relatively tough situation. His fellow leftists love pointing out that we could tap the reserve again if need be. Given the reason for it its creation and the current political climate threatening war across the globe, we would be smart to leave that alone.
Instead, Biden could simply do something his son refuses to do, and just admit he was wrong and change course. As it stands the nation is roughly a million barrels of oil short of what we were producing before the pandemic. The oil industry has made it simple for Biden to get prices back down. Open federal lands for drilling, approve pipeline construction and reverse the changes to corporate taxes.
Drilling on federal lands is a sticky situation. Many of these lands are protected for good reasons, and some studies would need to be done first, but it is easily doable. Approving pipeline construction is an easy feat, especially if the natives and their land are considered. Given how much cash the US and private companies are already paying them, that should be easily negotiated. Changing corporate taxes, again something he can do with a stroke of the pen.
Joe seems determined to make everyone but him and his inner circle suffer for this green dream. It’s a shame nobody has just told him to accept defeat for now. Fixing this problem now will prove far less costly and help America. Everything he is against.