President Biden’s administration has already kept his promise to reduce America’s reliance on fossil fuels by raising gas and oil prices high enough to make wind and solar energy cost competitive.
His presidential actions increased costs of gas and oil by shutting down pipelines transporting fuel from major deposits in the Dakotas, banning new drilling in multiple areas, and increasing costs of production and refining. The president’s actions caused U.S. gas and oil production to plummet from pre-pandemic levels.
Now President Biden is trying to negotiate with Russia and OPEC to lower their energy prices to us. In 2020, the U.S. was energy independent, with the lowest prices we consumers have enjoyed in years. The price increases we have already seen in 2021 create a heavy financial burden on families with limited or fixed incomes.
Today the Democratic Party is fighting internally over energy costs and global warming. The president provides no guidance or ideas on how to slow the increasing prices; the far-left progressive Democrats applaud the higher prices; and Democratic moderates are balking at the $3.5 trillion “reconciliation” bill, partially because of items that further increase transportation and heating costs.
In the last publicly available version of the bill (Oct. 12), there are added hydrocarbon taxes (page 367), taxes on natural gas that cost consumers $9.1 billion and 90,000 jobs (page 368), and a mandate that 40% of energy in 2029 come from costly solar and wind (page 392). Also included are added restrictions on fossil-fuel production (page 979), elimination of Arctic energy production that results in a 130,000 job loss plus $440 billion in lost government revenues (page 983), and limiting mineral processing needed for solar panels (pages 934, 940 and 943), which leaves our energy future in the hands of OPEC, Russia, Iran and China.
Hopefully, this legislation will be stopped by sensible moderate Democrats. If not, be prepared to determine how you can pay for these added costs on American families.
Sturgeon Bay, Wisconsin