Dear xxphilesxx, In just 18 months...

Los Alamitos CA

Description

"Please do enlighten us on how Biden did this? Be very specific, cite your references, and show which policies HE put into place that created the situation we're in." Certainly! OIL January 20, 2021: One of Biden’s first actions was to revoke approval for the Keystone XL pipeline and impose a moratorium on oil and gas leasing on federal lands and waters. Roughly 25% of U.S. production comes from federal areas. February 26, 2021: Biden updates the "social cost of greenhouse gas emissions," dramatically altering the way the U.S. government calculates the real-world costs of climate change. June 1, 2021: Biden proposed eliminating a slew of tax benefits for oil, gas and coal producers in favor of electric vehicles and other low-carbon energy alternatives as part of his $6 trillion budget for the next fiscal year. October 29, 2021: Biden and Democrats propose a "methane fee" in the proposed budget bill. November 17, 2021: Biden sent a letter to Federal Trade Commission Chair Lina Khan encouraging an investigation into oil and gas companies and retail gasoline prices. March 12, 2022: Congressional Democrats propose to tax top U.S. oil producers and importers and direct the collected money to Americans, an effort they said will curb profiteering in an era of high gasoline prices. You would have to be insane to invest in a business with this kind of government prejudice. INFLATION The $1.9 trillion blue state bailout bill back in the spring and the $1.2 trillion infrastructure/green energy bill. A $700 billion social welfare spending bill. That is supposed to be "free," according to the president’s sales pitch, because all the new spending will be "paid for with higher taxes on the rich." They think we are stupid. More government spending on social programs, increases consumer demand for goods and services, while reducing the supply. For example, the extended unemployment benefits and the free checks, rental assistance, and expanded food stamp payments pulled as many as 5 to 10 million Americans out of the workforce -- so they weren’t contributing to output production. But we were all taking our portions of the "free money" and partying like it was 1995. Now add free child care, free rent, free college loans, $7,500 subsidies for buying a Tesla, more free health care, paid parental leave for four weeks, and you will see an explosion of consumer demand with all the free money. Meanwhile, the taxes on successful small businesses, corporations, stock sales, combined with the reduction in oil, gas and coal production creates a double whammy on prices. For example, under Biden’s war of fossil fuels, America is now producing roughly two million FEWER barrels of oil. What does that do to the world price at a time of rising demand? It raises the gas price at the pump by $1.30 a gallon nationally over just one year ago. That’s inflation right in your face.