by WorldTribune Staff, February 14, 2021
Americans are feeling the effects of Joe Biden’s climate executive orders less than a month after he signed them.
Gas prices under Team Biden are seen heading back to $4 and above in some areas thanks to new climate regulations, Biden’s shutdown of energy mining on federal lands and overseas production cuts, energy industry analysts say.
The result could be an “oil price trap” for Team Biden, according to Steven Kopits, the managing director of Princeton Energy Advisors.
“Biden has substantial political risk heading in the 2022 midterms. He would do well to articulate a more balanced energy package because we may well see gasoline prices above $4 a gallon, and Republicans will not hesitate to finger the moratorium on leasing as the cause,” Kopits told Washington Examiner columnist Paul Bedard on Feb. 11.
The last time gas prices reached $4 was 10 years ago.
Since Election Day, gas and crude oil prices have jumped 18 percent. According to Feb. 13 reports, the national average price for a gallon of regular gasoline was $2.50, up five cents from the previous week.
Another industry expert told Bedard: “In four years, we had made the U.S. energy independent and denied the bad guys the ability to control global oil prices. The Democrats undo it in two weeks. Just incredible.”
Under the Biden regime, every government department has been ordered to factor climate change into their moves. Biden suspended new drilling leases on federal lands, restricted U.S funds in worldwide carbon energy programs, eliminated “fossil fuel subsidies,” stopped the Keystone XL oil pipeline construction, and slapped a moratorium on federal leases in Arctic Wildlife Refuge.
“The Biden administration’s plan to obliterate the jobs of American oil and gas explorers and producers has been on clear display with cancellation of the Keystone XL Pipeline, the initial announcement of a 60-day freeze on federal leasing and permitting,” said Dan Naatz, with the Petroleum Association of America.