EMPTY STRATEGIC RESERVE, WAR, ENERGY POLICY MAY BRING ECONOMIC DISASTER
POLITICAL OPPORTUNISM OVER SOUND JUDGMENT
With all out Mideast war looming and energy prices rising, Biden announces further restrictions of petroleum usage by this government. Is it stupid, or is it just an attempt to keep the environmental vote from voting for Kennedy. It is clear that short term vote counting is always more important than long term national wellbeing.
Politics always has prevailed with this administration. the squandering of a full strategic oil reserve, filled to capacity by the previous administration at below cost prices of under $20 a barrel. Emptied to help in the 2022 election to keep oil prices temporarily lower.
The promise to refill the reserve is being delayed by their own admission by high prices that are the result of their policies.
We did not have an energy emergency in 2022, Biden had a desire to keep prices under control for political purposes, but we may very well have one within months and the strategic reserve, that was there to get us through such an emergency, is empty.
Coupled with this, yesterday Biden announced the restriction of new drilling in Alaska and has previously restricted offshore drilling.
Biden's energy policy enacted within days of taking office, reversing all the gains from the previous administration was responsible for the exploding inflation cycle. The increase in energy prices and the unrestrained deficit spending has seen the worst inflation since the 1980's.
It is very likely to get much worse, with the possibility of skyrocketing prices and even rationing. I assume they hoped to fend off the consequences of their policies until after the election, but that now looks very unlikely.
Of course, we can expect the complicit media to help and place the blame on Putin, Iran, and maybe even China.
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