Biden Energy Policies Hurt America, Help Putin – Joe Biden’s energy policies have hurt America while at the same time infusing America’s enemies including Russia’s Vladimir Putin and Iran’s Ayatollah Ali Khamenei with fresh revenues that they have used.
Russia has been described as a gas station with an army due to the preponderance of the Russian economy’s reliance on oil and gas.
“President Joe Biden’s reckless energy policies, including a relentless war on US oil, have now seriously undercut national security. To wit, the US Energy Information Agency just pegged the nation’s supply of emergency oil in the Strategic Petroleum Reserve at just 351 million barrels — about half its capacity,” the New York Post Editorial Board said. “His team actually just bragged that they’re planning for just three potential oil and gas lease sales on federal territory — the “fewest” in “history” — over the next five years.
The Post Editorial board continued, “Their program “phases down oil and gas leasing in the Gulf of Mexico,” a Biden press release boasts, including “zero oil and gas lease sales in the Atlantic, Pacific and Alaskan waters.” Great. Stop green fanatics from wrecking our national security … US oil production has already fallen by as much as 3 million barrels a day, or nearly 20%, from its Trump-era trajectory, the Committee to Unleash Prosperity finds.”
Russia Profits From Biden Policies Despite Ukraine Invasion
In 2020, Russia’s economy struggled due to a decline in oil prices. Biden’s telegraphing to the world that he planned to cut U.S. oil and gas production, whose increase under Trump had prompted to Saudis to increase production to compete. Oil prices have steadily increased since the day Joe Biden was elected in November 2020. On Election Day 2020, crude oil prices stood at $35.70 per gallon and at $88.50 as of Saturday.
The commodities journal Seeking Alpha reported shortly after the election that Biden’s then planned effort to curtail oil shale extraction would drive up prices.
“For the oil market, the key driver of global supply growth, US shale, will be crippled in the near term. This is a great chart shared by a subscriber, and it points out some of the things Biden will do right away when he becomes President,” Seeking Alpha said. “Under the Biden scenario, US oil production pretty much never recovers back to its previous high.”
That is exactly what happened.
In 2021, on the eve of the Russian invasion of Ukraine, oil revenues increased in Russia by 60%, bringing a 30% increase in revenue to the Russian treasury.
Biden’s snubbing of Saudi Crown Prince Mohammed Bin Salman upon entering into office burned any leverage he might have otherwise had. Saudi Arabia once worked with the Reagan administration to drive down oil prices to the point the Soviet economy imploded. This time, Saudi Arabia has sided with Russia and kept oil prices high despite the invasion of Ukraine.
Saudi Arabia and Russia have conspired to keep oil prices high. These oil prices have benefitted Russia to the detriment of Joe Biden’s Ukraine policy.
“Oil is Russia’s main moneymaker, so higher prices help the Kremlin pay for its invasion of Ukraine and weather sweeping Western sanctions aimed at crushing its wartime economy,” PBS reported. “The recent rise in oil prices, along with a cutback in the discount that sanctions forced Russia to offer Asian customers, means Moscow will earn ‘significantly more revenue from those exports,’ said Benjamin Hilgenstock, senior economist at the Kyiv School of Economics.”
The PBS report continued, “The additional revenue could reach an estimated $17 billion this year and $33 billion next year, he said in an online talk hosted by the Brussels-based European Policy Center.”
Iran Expands Terror Thanks to Biden Energy Prices
Iran similarly has benefited from Biden’s oil policies. In addition to benefiting from the Biden administration’s payoff of billions in exchange for hostages it has reaped the fruits of the president’s energy policies.
“That — and lax sanctions enforcement by Team Biden — has let the mullahs add $40 billion to their global currency reserves, Unleash Prosperity reports. Money that can be used to buy missiles and fund Hamas, Hezbollah, and Tehran’s other proxies,” the Post Editorial Board said. “Not surprisingly, Hamas’ savage attack in Israel this month has sparked fresh calls for a crackdown on Iranian oil exports.”
As a result, over 1,200 Israelis were brutally murdered by Hamas.
Biden should rethink his energy strategy because the only winners are America’s enemies, and the losers are the people he claims to care about: Americans.
John Rossomando is a defense and counterterrorism analyst and served as Senior Analyst for Counterterrorism at The Investigative Project on Terrorism for eight years. His work has been featured in numerous publications such as The American Thinker, The National Interest, National Review Online, Daily Wire, Red Alert Politics, CNSNews.com, The Daily Caller, Human Events, Newsmax, The American Spectator, TownHall.com, and Crisis Magazine. He also served as senior managing editor of The Bulletin, a 100,000-circulation daily newspaper in Philadelphia, and received the Pennsylvania Associated Press Managing Editors first-place award for his reporting.
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