- US pump prices have skyrocketed throughout President Joe Biden’s tenure, even as Democrats continue to blame Russia’s surge in invasion of Ukraine and big oil companies.
- The average price of gasoline across the country rose by a whopping 48.4% between Biden’s January 2021 inauguration and February 21, three days before Russia’s President Vladimir Putin invaded Ukraine.
- “The sale of federal leases in North Dakota hasn’t been sold for more than a year,” Republican North Dakota MP Kelly Armstrong, a member of the House Energy and Commercial Energy Subcommittee, said in an interview. .. It’s real — it’s signaling Wall Street as well as energy companies. “
President Joe Biden and the Democratic Party have accused gasoline prices of continuing to rise due to the invasion of big oil and Russia, but pump prices have risen throughout his tenure.
Russia’s invasion of Ukraine destabilized the world’s energy markets and caused a historic supply crisis, but during the first 14 months of Biden, soaring gasoline prices were commonplace, federal data show. increase. Fuel production.
Gasoline prices have risen by more than 20% from $ 3.53 per gallon to $ 4.24 since the invasion of Russia, according to the Energy Intelligence Agency. However, pump prices rose by 48.4% between Biden’s inauguration in January 2021 and the three-day period of February 21. Before Russian President Vladimir Putin orders troops to Ukraine.
Democrats and the White House initially called Russia a “raise in Putin’s gas prices,” blaming the entire price increase and then accusing oil companies of benefiting from the crisis. (Related: “Slap”: Dems’ solution to high gas prices is a more exciting check)
“It is undeniable that the Putin war has led to destabilization of the global energy market, but we are concerned that the oil industry is not doing enough to protect US consumers from rising gas prices. “It is,” Raul Griharba, chairman of the House of Representatives Natural Resources Commission, wrote in Big Oil. March 18 executives.
However, fossil fuel industry groups and Republicans have accused Biden of a long series of policies since the first day of his inauguration, accusing Biden of waging a war with fossil fuels and reducing the flow of capital to domestic projects. did.
“The United States has shown a global energy advantage over the last decade,” Jeff Eshelman, COO of the American Independent Petroleum Association, told the DailyCallerNews Foundation in February. Oil production. “
“Undoubtedly, the production of natural gas and oil here benefits not only our country, but allies around the world. For the United States, it is less dependent on oil imports from disadvantaged countries. That means. ” (Related: Media Report’s Biden administration backtrack announces resumption of oil and gas leasing)
Biden’s first action as president was to revoke the federal permit for the Keystone XL pipeline, which would transport more crude oil from Canada to the United States. The government has also abandoned the Willow project, an important oil and gas project in Alaska approved by the Trump administration. It would have produced 100,000 barrels of oil per day.
After a federal judge ordered the Biden administration to stop attempts to ban the new federal land drilling lease, the Interior Ministry stalled and ignored the deadlines of multiple court orders to resume the program. The Ministry of Home Affairs also chose not to appeal. A recent ruling banning offshore drilling leases in the Gulf of Mexico promoted by a US federal court in the fall.
In addition, the Congressional Research Service reported in December that the government has developed a new five-year federal lease program needed to plan future lease sales to replace the current program, which expires in late June 2022. I have not. The recent sale of offshore leases occurred in the Trump administration in 2020.
Overall, 601 oil and gas drilling rigs are active in the United States, as shown by the latest government data. The number of rigs peaked under the Trump administration in 2018, when 1,032 was active.
The United States will also temporarily reach a net exporter in 2020 and then become a net oil importer again in 2022. In 2019, the United States became the first net exporter of total energy, considering the trade in oil, coal and natural gas. 75 years time. (Related: Experts say Biden’s offshore oil leasing policy will destroy US energy security)
“Federal rental sales in North Dakota haven’t been for more than a year,” Kelly Armstrong, a Republican North Dakota MP, a member of the House Energy and Commercial Energy Subcommittee, said in an interview. — It means that you are sending signals not only to energy companies but also to Wall Street. “
“(The drilling project) takes years to run and raises a lot of money. If you have a government that shows that it’s basically unrelated to oil or gas, how do you do that?”
According to federal data, North Dakota produced 1.1 million barrels of oil per day in 2021, the third highest production of the state as a whole.
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