So pumping petroleum out of the ground from wells is beyond the pale because CLIMATECHANGE! And moving low-cost petroleum from Canada through safe pipelines is a crime against humanity? But pumping it out of the Strategic Petroleum Reserve is just A OK? The reserve that is intended to provide petroleum during national crises like war and natural disasters? Not man-made price dislocations caused by a profoundly stupid and malign political philosophy!
Of course that political philosophy is socialism. Let us not pretend that the attempted destruction of domestic oil production is anything other than part of the long march, in which petroleum — a product inextricably linked with American independence and individualism — is demonized and made scarce. It will also create economic shocks that are profound; driving people into the cities where transportation is subsidized and, at least on the surface, cheaper than burning expensive fuel in one’s own car.
In total, the U.S. will release 50 million barrels from the SPR. Of the total 32 million barrels will be an exchange over the next several months, while 18 million barrels will be an acceleration of a previously authorized sale. “The President stands ready to take additional action, if needed, and is prepared to use his full authorities working in coordination with the rest of the world to maintain adequate supply as we exit the pandemic,” the White House said in a statement. Tuesday’s announcement follows the administration saying for months that it was looking into the tools at its disposable as West Texas Intermediate crude futures surged to a seven-year high above $85.
This is straight out of Saul Alinsky’s playbook!
- Increase poverty.
- Increase debt to unsustainable levels.
- Make people dependent on the state.
- Class warfare.
The logical disconnect is obvious, yet our media are marching in lockstep with the Democrat party in support of restrictions that do absolutely noting other than increase the price of energy in America. We’re still burning it…it just costs more. Fuel has an inelastic demand curve…it has to get extremely expensive before people start decreasing their usage. But they reduce their demand for other goods, and that damages growth. Which is the point.
It’s also amazingly stupid, and maybe the American public, which has been asleep for generations, will finally notice that there is an easy and cheap way out of the huge economic issue of high fuel prices, and it isn’t dipping into emergency supplies of oil!
Open the Keystone pipeline, sell oil leases, remove restrictions on fracking, and we will once again be net exporters of oil. It won’t take long.
And it won’t happen until Senile Joe Biden is voted out of office and the rest of the Democrat junta is curb-stomped.
[Check out Sefton’s and my podcast…episode 2!]