GasHoles Seek Strife, Not Solutions in US
GasHoles Seek Strife, Not Solutions in US
It’s amazing to me how all the pundits who were medical experts when it came to the coronavirus magically transformed into foreign policy experts in just a matter of days.
Maskholes, meet Gasholes.
Since they failed to get much traction as cheerleaders for Vladimir Putin, Republicans and Fox News have been cranking up the angst about already increasing prices at the gas pump.
It’s true! Driving your Hummer might soon cost $6 a gallon or more!
Rather than offering solutions that might make things easier for the public, the gasholes are taking a twin pronged approach aimed at pissing off voters who might be inclined to vote for a Democrat.
Via Politico:
With Russia’s economy so reliant on the energy sector, the U.S. should target that nation’s energy exports in order to be effective.
Biden should simultaneously green-light domestic energy production to offset any oil shortages — a policy the GOP has been pushing for years and that is, in many ways, antithetical to the administration’s climate goals.
It’s a lose-lose for Biden.
If he does block Russian oil imports into the US (about 700,000 gallons per day) gas prices will zoom upward.
Then there’s the question of what it means to ‘block’ imports of Russian oil. Blocking imports to the US affects the domestic market; sanctioning imports means no country that partners with the U.S. could buy Russian, which amounts to 25% of Europe’s oil and 40% of its natural gas, according to the LA Times. So far the rest of OPEC, led by the Saudis, has shown no inclination to increase production.
While sanctions are only being mentioned in far-right corners of the legislative universe, remember how quickly nutso ideas become mainstream among righties these days.
If Biden ‘green-lights’ domestic energy production it will have virtually no short-term impact on supplies. And…
…The ‘green lighting’ concept is just plain bs. “The Interior Department processed more oil and gas drilling permits during Biden's first year in office than three of the four years of the Trump administration.”
The reality is that “unleashing” America’s energy would take a long time before it made any meaningful impact in Europe. New fossil fuel projects take years to come online.
Here’s the really dirty secret about domestic production: it’s going to go up regardless because higher prices per barrel have made fracking profitable in areas where companies were holding back to pay off losses incurred during the pandemic price crash.
What will happen is the Biden administration will release about 68 million barrels from the U.S. strategic reserves. Also look for gas tax holidays at the state and federal level to become popular as the summer driving season approaches.
Long term, the more effective way to weaken Russia’s geopolitical influence is to accelerate the transition to clean energy. This would not only help Europe achieve net-zero emissions — and stave off the most catastrophic impacts of climate change — but would also subvert Russia’s attempts to use natural gas as a political weapon.
Locally, look for KUSI to crank up their whine machine. I’m sure they’ll find plenty of Republicans ready to practice their victimhood poses.
Consumers, in the meantime, will react pretty much as they always have to crises in the transportation sector. They’ll drive less, look to buy more gas efficient cars, and public transit use will rise.
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Inflation alert. As you read/hear/see the next report on how inflation is hurting consumers, remember two things:
prices are rising world-wide, not just in the US. Neither Ted Cruz or any of his cronies possess a magic wand that can change that reality.
Greed is a big driver of increasing prices.
Email me at WritetoDougPorter@Gmail.com