Yet, just as prices looked to be going down due to a drop in the cost of oil caused by COVID-19 hysteria (oil dropped over $10 a barrel today), Biden is making a move to get those prices headed up again.
"Just days ago, Joe Biden was insisting that his climate change provisions weren’t causing higher gas prices (see Joe Biden Goes Full Ron Burgundy in Reality-Bending Speech on Gas Prices). You see, according to the White House, canceling Keystone XL and limiting oil and gas leases in the name of fighting global warming doesn’t actually have an effect on gas prices.
"Of course, most of us realize that’s a complete lie because we understand basic economics. And while Biden may be senile, he’s cognizant enough to understand what he’s doing. When you lower the supply and make oil more expensive, you end up with higher prices at the pump. In fact, the current hike in gas prices tracks with the rise in the price of oil almost perfectly.". . .
. . ."Enter some breathless media member insisting that the president doesn’t control the price of gas. In some sense, that’s true, but Biden absolutely can make the problem better or worse. By raising the costs to drill on public leases, the president is directly influencing the cost of gasoline, and not in a good way. You will absolutely pay more at the pump if the White House raises the costs to drill in the name of fighting climate change." . . .
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