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In Trump’s last weeks in
office, America’s net imports of oil from the Middle East hit zero for the
first time in 50 years. The USA was effectively energy independent.
Look what has happened to our imports in the first six months of Biden. As
Biden has declared war on American fossil fuel production, our imports have
reversed course. They are surging. No pipelines. No drilling. No permits.
More onerous regulations are having the desired impact. Laffer and
Associates has calculated that our imports are up more than 15%
already.
The Biden energy policy is playing right into the hands of our enemies –
Putin, OPEC, and China. Biden Energy Policy = Import More
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US Crude Oil Imports -- Red curve = barrels millions; Blue curve = cost
2 comments:
The whole truth in this case might include something about the free market's response to price, particularly fracking. Forbes notes, "Last year, during the pandemic, shale oil production dropped by about 2.5 mb/d in short order, but much of this was due to wells being shut-in when prices collapsed to $16 in April of 2020, while producers waited for a price recovery. Since then, about 1 mb/d has returned to production, but supply remains well below pre-pandemic levels"How Is U.S. Shale Oil Production Performing So Well? (emphasis added) With the price of oil rising more domestic production will come back on line, reducing imports, but somehow I doubt this column will change its opinions of any of the Biden administrations policies.
Tom G is correct. This column is 100% devoted to presenting the conservative point of view. These perspectives are censored in social media and the main stream media. These are Biden's PR vehicle promoting only the wishes of the Ruling Class. There is no doubt that bias exists on both sides of America's cultural divide. We each believe what we want to believe.
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