Biden’s moves, which have enraged eco-warriors within his own Democratic Party, underline the growing alarm in the White House as potentially brutal midterm elections draw near.
But they also amount to a tacit admission that his energy policies, knocked off course by Russia’s invasion of Ukraine, appear to have gone awry.
Kathryn Porter, an energy consultant at Watt Logic, says the President’s actions since taking office “consistently signalled that he wants to protect the climate by reducing oil and gas production” and that he “backed this up with new regulation for the industry”.
“But he failed to consider the impact of a price shock,” she adds.
“Now, with rapidly rising gasoline prices, he is backtracking and accusing oil companies of profiteering, when in reality they are responding to his policies in the way he wanted, by reducing capacity.”
The year before Biden entered the Oval Office, the US had just cemented its energy independence, becoming a net exporter of oil for the first time since 1949.
you can read more in the link….
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But they also amount to a tacit admission that his energy policies, knocked off course by Russia’s invasion of Ukraine, appear to have gone awry.
Kathryn Porter, an energy consultant at Watt Logic, says the President’s actions since taking office “consistently signalled that he wants to protect the climate by reducing oil and gas production” and that he “backed this up with new regulation for the industry”.
“But he failed to consider the impact of a price shock,” she adds.
“Now, with rapidly rising gasoline prices, he is backtracking and accusing oil companies of profiteering, when in reality they are responding to his policies in the way he wanted, by reducing capacity.”
The year before Biden entered the Oval Office, the US had just cemented its energy independence, becoming a net exporter of oil for the first time since 1949.
you can read more in the link….
Joe Biden’s green agenda hits Americans with an oil price shock
When his green credentials were challenged by a young activist on the election trail, Joe Biden had a simple answer.
