Reposted from NOT A LOT OF PEOPLE KNOW
OCTOBER 17, 2021
By Paul Homewood
Want proof that the Biden administration is really the second incarnation of the Carter administration? We have runaway inflation, Americans trapped overseas, a member of the first family who tried to do business with Libya and a president begging the Organization of the Petroleum Exporting Countries and allies (OPEC Plus) to increase oil production. It’s like the 1970s all over again.
Gas prices have risen $1 a gallon since Joe Biden’s election, while crude oil prices have doubled since November to $83 per barrel — and some analysts predict they could rise by another $10 before the end of the year. Natural gas prices have shot up more than 150 percent in the same period, which means winter heating bills for the half of American homes that use natural gas are projected to be 30 percent higher than last year — 49 percent higher in the Midwest.
This is the result of deliberate policy choices. Biden has made clear his intention to tax and regulate the fossil fuel industry out of existence. During the 2020 campaign, he declared, “I guarantee you. We’re going to end fossil fuel.”
Well, those threats have consequences. Today, the number of rigs producing oil across the United States is 528, roughly half its 2019 peak under President Donald Trump. When you tell oil producers you plan to put them out of business, they are not going to bolster production or drill more wells. When your $3.5 trillion “Build Back Better” plan would impose punitive taxes oil and gas, the producers are going to get the picture that building back better doesn’t include them.
And when you make clear you plan to destroy an industry, banks and investment firms stop investing in it. The New York Times reports that the “flow of capital from Wall Street has slowed to a trickle after a decade in which investors poured over $1.4 trillion into North American oil and gas producers through stock and bond issues and loans” as woke capitalists “pare their exposure to fossil fuels to meet the commitments they have made to fight climate change.” BlackRock, the world’s largest asset manager, has announced that it intends to have “net zero emissions across our entire assets under management by 2050.”
The result? Less fossil fuel production and higher prices — with lower-income Americans who can afford it the least penalized the most at the pump.
Full story here.
Jimmy had impure thoughts. Biden has none.
Biden: “Is it net zero emissions or ah, net zero economy? That economy thingy I can do. The uh, other one. Not so much.”
That’s much to clever to have come from Biden or his handlers.
Send in the crazed rabbit and Edward Markey to complete the picture.
Yet we still ignore Party planks when voting–so does the media.
The Biden-Carter comparison is an insult to Carter. The only reason the usual sycophants turned on Carter is that he had some integrity.
It’s all political.
There are some who will try to spin this as proof that oil was never economical.
And they are both Democrats.
One HUGE difference. Jimmy Cater was a good, decent, educated, intelligent man. Joe Biden is a corrupt dunce.
“This is the result of deliberate policy choices. Biden has made clear his intention to tax and regulate the fossil fuel industry out of existence. During the 2020 campaign, he declared, “I guarantee you. We’re going to end fossil fuel.””
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Absolutely, and I have suggested this before: Everyone in the fossil fuel industry needs to lay out a timetable for shutting down all fossil fuel power plants and oil refineries by the end of Biden’s first term (assuming he gets that far). The glorious transformation to a Green energy economy can then begin.
Once the economy has collapsed (or nearly so), then Biden and company can Build Back Marxist …..or something like that. Of course, the whole debacle will be the fossil fuel industry’s fault, so Building Back Marxist will be completely justified.
Once we are all happily living in a wind and solar Green energy utopia, Congress should make Biden’s birthday a national holiday after he’s gone. Such a glorious economic and energy transformation should not go without being celebrated each year. /sarc
The voters should always get what they asked for.
It appears all of us in (formerly) wealthy western democratic nations will have a chance to sample life in the centrally planned socialist utopia we have all been promised by clear-thinking, benevolent prophets such as Sleepy Joe, Greta Thunderpants and that modestly living film ego Leonardo something or other. We will get the chance whether we want it or not – that’s a feature of socialism, not a flaw or so it seems. Let’s all pay attention to how our lives are transformed for the better (or shorter). We are about to inherit the gifts of progressivism. We should all be grateful for the opportunity to contribute to Earth’s abundance with our withering corpses once things get into full gear. If we don’t fight for sanity now we will lose the opportunity to fight later.
For all his faults, Carter was a good man that was not a fraudulent liar. This guy is the point man for that and has been his whole career. Besides Susan Rice and Obama are running the show
Ten years ago crude oil was $120 a barrel, when oil price dropped, oil companies were laying off staff.
https://www.macrotrends.net/1369/crude-oil-price-history-chart
Back then you could blame big (domestic) oil and Arabs. Today it’s harder to not blame the lockstep policy drive for the cliff with policy and advocacy together. Better get the armies of message managers on it.
Is WUWT now a gossip column (or whatever) or a serious climate science blog. Can we try to stick mainly to climate science, more along the lines of the earlier WUWT.
I agree. It’s disappointing to find so many inane comments on certain topics, and personal slurs, instead of rational arguments.
First some bolts come loose, then some wheels start flying off. The message managers will not be able to spin alternate reality at that point. Just ask Jimmy.
PSaki is turning into the modern equivalent of Marie Antoinette:
https://www.thegatewaypundit.com/2021/10/psaki-makes-light-supply-chain-crisis-laughs-tragedy-treadmill-delayed-video/
Sh is more like Bahdad Bob.
Are we all in some make-believe movie about the end of the world?
When I wake up tomorrow will sanity have returned?
New t-shirt: Hey Joe, 1977 called and wants all of it’s failed policies back. Let’s go Brandon!