Why is Biden Revoking Oil Licenses?

In multiple recent public appearances, President Joe Biden intentionally repeated a false statement regarding the amount of oil currently produced in the U.S.

He stated America is producing a record quantity of oil per day or “nearing” record production levels. 

These assertions are both false, designed to deceive, and typical of Joe Biden. 

Real Figures

In reality, the United States produced substantially more oil in 2019 than it does currently.

The most recent available production number, 11.3 million barrels per day in February, was significantly lower than the log for the month of February (12.8 million barrels a day in 2020).

It was also significantly lower than the monthly account (12.97 million barrels a day in Nov 2019).

As per forecasts from Biden’s Energy Information Administration, the United States is not even expected to return to this record level by 2023. 

Prices are indicators, as economists are aware. The current record-high gasoline prices result from rising demand and the gradual withdrawal of Russian oil from significant markets.

Such high prices demand that more crude oil be discovered and refined by producers.

In other words, current conditions justify much higher production levels than at any time in recent U.S. history. This is a once-in-a-lifetime opportunity to produce at record levels and pull out all the stops. 

As even Democratic members of Congress feel compelled to demand deceptive production increases from oil executives, it is clear that output should be increased.

Then why is production lagging? The solution can be found in Biden’s White House. 

A president who prioritized the needs of the people over ideology would’ve identified this several months earlier and expedited all of the related authorization processes.

He would also have increased the number of available leases for oil service companies.

Astonishingly, instead of increasing production, Biden is trying to cancel lease sales. This week, Biden terminated leases in both the Gulf of Mexico and Cook Inlet in Alaska.

His subordinates disingenuously alleged a lack of industry concern, despite the fact the industry expressed interest and corporations were unable to bid to indicate interest. 

Leases and Approvals

In the meantime, his administration continues to drag its feet when it comes to issuing the additional permits necessary to maximize existing leases and approvals.

Biden, or whoever makes these judgments for him, does so to appease an ecological extremist group within his more radical party.

Biden’s behavior is unforgivable in light of the current condition of events in the United States and Europe.

The Biden presidency lacks sufficient rainbows and unicorns to guide Europe through its current crisis and assist it in maintaining a much-needed firm line against Russian President Vladimir Putin’s reckless aggressiveness.

This requires a substantial quantity of oil and natural gas. So far, prices indicate U.S. supply is not even close to meeting demand levels. Biden or a member of his administration is aware of what this signifies.

The basic question is whether any partisan Democrat is still capable of doing things in the country’s interest when public safety and the party’s strong climate alarmism are in conflict.

Recent