What? Biden Sold America’s Oil Reserve to China

Posted on Tuesday, August 8, 2023 by AMAC, Robert B. Charles

One month after Trump became president, February 2017, crude oil stood at $67.62 a barrel. By July 2020, after ramped up production and COVID, oil was $24.21 a barrel. By April 2022, oil hit $110.45 a barrel. Why? We thought we knew. Now we really know. The going-in theory was that Biden – preoccupied by climate change, sure renewables will replace oil and gas, and oblivious to China’s pollution – dramatically cut US fossil fuels, radically raising US prices. This was true. On and after January 20, 2021, Biden has issued punitive, increasingly restrictive executive orders, regulations, and expensive legislation – passed by single-party government – intended to shut down big parts of the US fossil fuel industry. Not satisfied to shut down supply, the federal government has – with and without legislation – methodically perverted the demand side of the curve, too. After making gas and heating oil prohibitively expensive, they penalized makers of automobiles and countless gas-powered household appliances. Specifically, they have punished makers of gas powered engines, cars, trucks, boats, lawnmowers, hammered the energy, construction, transportation, and farm sectors, then turned to appliances, aiming to outlaw everything from gas and wood stoves to refrigerators and water heaters. The Democrat idea, fueled by activists, is to mandate everything by fiat. The Soviets dealt this way, Chinese still do. Biden’s “make it all electric” mandate sees wind turbines and solar panels covering the Earth, powering the grid, now 80 percent fossil and nuclear. By magic, wind and sun will run it all. Never mind that the fragile, aging electric power grid cannot absorb more demand, is on last legs. Forget the fossil fuel reserves and a century and a half of reliance and infrastructure; la-la energy will do it.