President Biden keeps talking about tools, but there already is a proven way to deal with the rising cost of gasoline.
Oil Price (1/19/22) reports: "The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for the National Security Council said this week. 'We continue to work with producer and consumer countries and these steps have had real effects on prices and ultimately tools continue to remain on the table for us to address prices,' Emily Horne said, as quoted by Reuters. 'We will continue to monitor prices in the context of global economic growth and engage our OPEC+ partners, as appropriate.' Horne also said. Last year, President Biden called on OPEC to increase production in response to rising crude prices, but the cartel declined. A harder stance followed, in which the White House said OPEC and Russia were contributing to higher bills for the American working class and again insisted that the extended oil cartel boost production by more than its originally agreed 400,000 bpd monthly...The next tool the White House employed when all else failed was the decision to release up to 50 million barrels of crude from the strategic petroleum reserve—a move many analysts said would not have much of an impact on prices. Part of the amount has already been released."
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"One of the countless ironies running through current climate policies is that that progress may be about to go into reverse, not because of climate change, but because of policies designed to combat it, and, more specifically, what looks more and more like a premature dash into wind energy. "
– Andrew Stuttaford,
National Review
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