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HomeIllinois NewsJoe Biden's 'Transition Away From the Oil Industry' Is Strangling America's Economy

Joe Biden’s ‘Transition Away From the Oil Industry’ Is Strangling America’s Economy




Blaming inflation on the Ukraine-Russia conflict, which is also partly his fault, does nothing to alleviate the stranglehold Biden has on our economy. Levi A. Russell writes:

The root causes of the economic upheaval most Americans are experiencing right now are the subject of much discussion lately. Is it the Russia-Ukraine conflict? Is it Biden’s closing of the Keystone XL pipeline? Is it the absurd energy policies of the EU? Certainly there is plenty of blame to go around, but the reality is that all of this started in October of 2020. Back then, Trump and Biden were going head to head in debates leading up to the November election. Biden famously stated “I would transition away from the oil industry.”

That statement was a clear signal to energy producers in this country that Biden’s eventual ascent to the presidency would bring unprecedented uncertainty for at least the next four years. Never willing to let a crisis go to waste, the Biden administration went straight to work dismantling the future of our oil and gas refining capacity. His statement in October of 2020 made it clear that his administration would use the massive increase in government control precipitated by the pandemic to massively curtail energy production not in the distant future, but here and now.

Though oil production has rebounded to some extent from the demand-driven crash in 2020, refining and drilling are still well below pre-pandemic levels. The regulatory uncertainty imposed on traditional energy production is simply too great. Biden can complain that these companies aren’t throwing money away to save his poll numbers, but a lifetime politician like him is in no place to criticize those who provide essential goods and services to the American public. Biden’s insistence that his policies have no role in the pain Americans feel right now should fall on deaf ears.

[ Levi A. Russell, "Joe Biden's 'Transition Away From the Oil Industry' Is Strangling America's Economy," RealClearEnergy, March 15]


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