In case you haven’t noticed, gas prices are starting to climb again. This is a big problem considering the midterm elections are just around the corner. One of the big wins that the White House has been touting is that Biden and the rest of the Democrats have worked to bring gas prices down.
It’s one of the reasons why they can pretend as though inflation isn’t an issue.
Bloomberg reported: “White House officials have asked the US Energy Department to analyze the possible impacts of a ban on exports of gasoline, diesel and other refined petroleum products, an indication that the controversial idea is gaining traction in some parts of the Biden administration.”
If this is the kind of plan Biden has in mind, we’ll blow through strategic reserves in record time, which will only result in further dependence on OPEC.
You don’t have to be an oil company to know that Biden’s plan is BAD. However, the oil companies are already seeing the warning signs and have penned a letter to the White House to explain what their plan could actually do.
“Banning or limiting the export of refined products would likely decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. allies during a time of war.”
Obviously, this isn’t the kind of plan that we should have in place. What we SHOULD be doing is producing our own oil again so that it can be sold around the world. It will drive our prices down, help to even out the economy AND ensure that we’re not depending on OPEC.
Yet, that’s not Biden’s plan.
Does that mean that we’re all in big, big trouble? Only time will tell.
