Price of oil will skyrocket in coming months

Seattle WA

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The Biden administration is reportedly weighing the potential market consequences of shutting down an oil pipeline in Michigan, drawing criticism from opponents. Former Michigan Gov. Jennifer Granholm, Biden's energy secretary, predicted Sunday that heating prices will rise this winter regardless of the Biden administration's decision on the pipeline. "Yeah, this is going to happen. It will be more expensive this year than last year," Granholm told CNN. BIDEN ENERGY SEC. GRANHOLM LAUGHS AT QUESTION ABOUT BOOSTING OIL PRODUCTION The administration has yet to decide on what to do with Line 5 and officials were gathering information only to present a clear picture of the situation, according to sources who spoke to Politico. Line 5 is part of a network that moves crude oil and other petroleum products from western Canada, transporting about 540,000 barrels per day. Petroleum is taken from the pipeline in Escanaba, Michigan. Jason Hayes, the director of environmental policy at the Mackinac Center for Public Policy, blasted the Biden administration for its energy policies, telling Fox News that their work on Line 5 is "just one more example of being divorced from reality." MICHIGAN GOV. GRETCHEN WHITMER LOOKING TO SHUT DOWN ENBRIDGE PIPELINE DURING NATIONAL GAS SHORTAGE "They're planning to power an industrial nation like the United States on solar panels and wind turbines," Hayes said, while noting that even the solar panels and wind turbines require "oil, natural gas, nuclear and even coal" to be produced. Hayes presented a dire picture of what shutting Line 5 could mean if people are unable to get natural gas or the electricity it provides as the nation heads into winter. "I hope it doesn't end like this, but where I see it going is unfortunately the same thing that happened in February in Texas: People freezing in their homes," he said, adding, "Most of the time when it's extremely cold or there's a real bad polar vortex situation, typically it's pretty cloudy and there's not a lot of wind." Last winter 700 deaths were reported from cold temps as people died in their homes. Explaining he has trouble understanding why some Western leaders seem unable to grasp the importance of reliable, affordable energy and electricity for everyday citizens, Hayes said, "It seems like the only nations that understand that we require reliable, affordable dispatchable energy is China and Russia. And they're the only ones that are producing energy and they're more than happy to hold that energy hostage for the rest of the world." Time to install solar panels on our roofs and buy all electric cars. Mass transit will have to increase its platform if we are to go green. Has anyone seen what Tesla stocks are doing lately?