Does Oil War Ensure High Pump Prices?

WSJ asks if “$6 a Gallon of Gas Next?” but, in ex-Sweet Home Chicago I just visited it’s already $6.50+ & climbing & I don’t want to know what it is in upcoming visit to La La Land California. Yet, Joe 2bs down on his Oil War?

The paper’s editorial board cut to the chase: Mr. Biden’s “assault on fossil fuels has shrunk US refining capacity” as he has the gall to accuse oil companies with withholding production he forced to be shut down. “What do you know,” the op ed muses, “President Biden has suddenly discovered that a refinery shortage is driving up fuel prices. Naturally, he’s blaming refiners, even as his Administration doubles down on the policies that created the shortage … In a remarkable & threatening letter to oil & gas CEOs this week, Mr. Biden seems stunned to learn prices rise when supply doesn’t meet demand. He’s aghast that gas prices are still rising above $5 a gallon even as oil prices have stabilized at $120 a barrel. Ergo, he says, the problem must be greedy oil companies making too much money.”

In reality, however, thanks to foolish progressive policies exacerbating the pandemic lockdowns, “the US has lost nearly one MILLION barrels of refining capacity … [among other things] … Some older refineries have closed because companies couldn’t justify spending on upgrades as govt forces a shift from fossil fuels; they also have to account for the EPA’s tighter permitting requirements – the agency recently challenged a permit for an Indiana refinery – and steeper biofuel mandates.” Put another way, even if Joe has a Clinton ah ha & reverts to the Trump energy independence policies, which he won’t because he insists he’s never wrong, it’s going to take TIME as mid-term elections near.

Davd Soul