You’ve probably heard that presidential administrations have little or no impact on gas prices.
That is generally true, but not with this administration. Rising energy costs aren’t accidental when the White House pursues an anti-American energy agenda.
The 12-month percent change in the Consumer Price Index (CPI) confirms that. Prices have risen across the board, yet the cost of crude oil and gasoline has risen many times higher.
These alarming spikes add to the Democrats’ woes as next year’s midterm elections approach. Yet when it comes to assigning blame, all they have to do is look in the mirror.
A Sweeping, Radical Agenda
Although Biden has tools to curb rising prices, he’s handcuffed himself to a radical agenda.
Biden’s restrictions on domestic drilling have only exacerbated his problems. Instead of promoting energy independence, administration officials ask for more crude oil production from OPEC. Unfortunately, relying on imported oil does nothing but give OPEC increased leverage to influence prices. President Trump embraced an interventionist approach to rein in the cartel, but they’ve wholly outmaneuvered his successor.
In April 2020, Trump persuaded OPEC to slash production when plummeting oil prices could have threatened American jobs. Less than 18 months later, OPEC+ countries continue to withhold their stockpiles. The effect is undeniable. The cost of a gallon of gasoline has gone up by over a dollar since Biden was sworn in.
These higher prices at the pump have created a chain reaction. Natural gas prices have doubled since last year. Nearly half of all U.S. households heat their homes with natural gas. With inflation costing the average household $3,500 this year and hurting the poor more than the rich, the fallout from Biden’s good intentions will only get worse as the weather gets colder.
While families faced the unthinkable decision of spending their money on food or heating, President Biden attended the UN climate summit in Glasgow, where he made unrealistic pledges to cut carbon emissions.
Virtue Signaling Meets Reality
Out of the spotlight, the White House stopped virtue signaling and directed the Federal Trade Commission to investigate price gouging by OPEC member countries and their allies. Meanwhile, the National Security Commission continues to meekly urge OPEC+ to increase production.
Back in October, White House Press Secretary Jen Psaki told reporters, “There are limitations to what any president can do, as it relates to gas prices.” She failed to mention that Biden doomed the Keystone XL Pipeline with the stroke of a pen or that the United States uses more oil today from Putin’s Russia than from Alaska.
Initially, Democratic Party leaders supported the Keystone Pipeline. That changed as the party’s base increasingly demanded its candidates stake out more liberal positions in the last decade. Biden has stayed in the good graces of left-wing activists on this issue, though it helps that he hasn’t acknowledged giving Vladimir Putin the green light to build the Nord Stream 2 gas pipeline.
Besides tacitly acknowledging that pipelines can operate safely every day, Biden’s agreement has made Putin a fortune and exacerbated soaring gas prices across Europe.
Can We Undo the Damage?
The left’s political agenda has inflicted severe damage on our economy. And the hypocrisy of our supposedly eco-friendly administration makes the sting of this self-inflicted blow worse. Biden’s elaborate deception calling for OPEC and its allies to pump more oil will undoubtedly trick some Americans, but it should upset environmental activists. Meanwhile, the average American family struggling with record inflation and American workers in the besieged energy sector have plenty to be worried about.
Despite the future Biden, Pelosi and AOC yearn for, the United States and the world rely on fossil fuels. Millions of voters feel the pain their policies cause.
That will continue as long as Democrats do everything in their power to throw America’s competitive advantage away.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.