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Biden is lying about his role in rising gas prices

Biden is lying about his role in rising gas prices

Politicians are adept at talking out of both sides of their mouths – and no one better than President Biden.  He said on the campaign trail that he wanted to shut down the oil industry.  Upon taking office he started to do just that.

Now that Biden has been caught in the results of his own policies – the desire to end the use of fossil fuels and the inflation he triggered with his big spending bills – he is conflicted.  On one hand, he stays firmly committed to the Green New Deal’s reduction in the production of oil but finds it necessary to curb the inflation by … increasing the production of oil by other nations.

In terms or crippling the oil industry, Biden is unrelenting.  He continues to hinder oil drilling, refining and distribution.  In terms of fighting inflation, his efforts seem to be more symbolic than substantive.

In the latter case, he has released oil from the national emergency reserves – to be held in the event of some catastrophic events or wars.  It has had no impact on the pump price of gasoline – and Biden is smart enough to know that.  

Even as he threatens the industry with extinction, he says they should increase domestic production.  Of course, Biden knows that is impossible since every domestic refinery is already operating at virtual 100 percent capacity.

Rather than increase domestic oil production, Biden is scrounging around the world – dealing mostly with adversaries – begging them to increase their drilling.  Correction:  He is not “begging” them.  He is “bribing” them with concessions detrimental to America’s own national security.  He his hinting at removing sanctions on Iran and Venezuela.  He is going hat-in-hand to Saudi Arabia – a nation he unwisely declared to be a pariah state.  

These efforts are not only embarrassing, but they are also dangerous and will not succeed.  Saudi Arabia is already producing at the max.  They could not pump any more oil into the market if they chose to do so.  Biden knows that even as he goes to beg oil from the Saudi Crown Prince.  In fact, French President Macron told Biden as much in an open mic booboo at the NATO meeting.

What Biden is NOT doing is also significant.  He his not reversing any of the policies he implemented to reduce American oil production.  Insofar as those actions successfully reduced domestic oil production, Biden shares responsibility for the supply shortage that is fueling the inflation.

To get an idea of what Biden can undo, we need to reflect on what he did do to transform America from a net oil exporting nation to our current unfortunate reliance on foreign producers.

  1. Of course, he stopped construction on the Keystone Pipeline.
  2. Biden banned exploration and drilling on all public lands.  This does not mean bsnning oil rigs next to “Old Faithful” in Yellowstone National Park.  There are massive stretches of federal lands throughout the country – especially in the west.  Nevada, for example, is 80 percent federal land.
  3. He has banned future offshore drilling.
  4. While Biden talks about the oil companies having 19,000 leases of private lands, he fails to note that his administration is severely limiting the necessary permits to drill.
  5. Biden administration is discouraging bank loans for oil operations.
  6. He is cancelling carbon credits and demanding the industry pay back the credits for the past four years.  That is a devastating blow to the many small refiners and a price increase action.
  7. Biden has threatened the oil and coal industry with extinction.  And that alone drives up prices.

While I know it will be more controversial, but I truly believe that had Biden put boots on the ground in Ukraine – and provided massive amounts of weaponry – before Putin’s invasion, there would not have been an invasion.  Instead, Biden gave Putin the green light with empty threats of serious sanctions and a promise not to send in troops – but rather removing the troops we had in Ukraine.  To the extent Putin’s war has impacted oil prices, Biden and the west allowed it to happen.

Biden has repeatedly declared his war on fossil fuel – and implemented a range of policies to diminish the use and production of gas and oil.  The combination of threats and policies are a major reason for the inflationary pump prices – and all the consumer prices that depend on gas as a component of the supply chain. 

We are all victims of Biden’s war on oil.  In terms of the pump price of gas, the most accurate explanation are those ubiquitous stickers that are popping up on gas pumps across the nation, with Biden pointing to the price and saying, “I did that.”

So, there ‘tis.

About The Author

Larry Horist

So,there‘tis… The opinions, perspectives and analyses of Larry HoristLarry Horist is a businessman, conservative writer and political strategist with an extensive background in economics and public policy. Clients of his consulting firm have included such conservative icons as Steve Forbes and Milton Friedman. He has served as a consultant to the Nixon White House and travelled the country as a spokesman for President Reagan’s economic reforms. He has testified as an expert witness before numerous legislative bodies, including the U. S. Congress. Horist has lectured and taught courses at numerous colleges and universities, including Harvard, Northwestern, DePaul universities, Hope College and his alma mater, Knox College. He has been a guest on hundreds of public affairs talk shows, and hosted his own program, “Chicago In Sight,” on WIND radio. Horist was a one-time candidate for mayor of Chicago and served as Executive Director of the City Club of Chicago, where he led a successful two-year campaign to save the historic Chicago Theatre from the wrecking ball. An award-winning debater, his insightful and sometimes controversial commentaries appear frequently on the editorial pages of newspapers across the nation. He is praised by readers for his style, substance and sense of humor. According to one reader, Horist is the “new Charles Krauthammer.” He is actively semi-retired in Boca Raton, Florida where he devotes his time to writing. So, there ‘tis is Horist’s signature sign off.

15 Comments

  1. tom

    You are spot on with this post Larry. Bad enough that the Russian war in Ukraine cost the world 12% of its oil thanks to sanctions, which by the way Biden’s entourage never seems to have problems getting or affording gas, but to stop American oil production is insane and adds at least another 10% to the shortage. I sure hope people remember this in November! And I do get a kick out of those stickers! I predict around the end of October you will see one on every gas pump!!!

  2. frank stetson

    You know we keep telling you that oil is not forever. We keep telling you that new growing economies in China, India, and the like will compete with us for energy supplies. We keep telling you that big energy has a stranglehold on our economy. We keep saying we need alternative energies, not only for a cleaner environment, but because we are running low on gas and we will run out. More energy supplies, more competitors, we all know that’s the ultimate way out of this mess. Guess what, our demand just exceeded our supply and sure would be nice to have more energy. After that, most of us could care less whether it comes from the ground, falling waters, or the sky. We just need a more abundant supply of go juice.

    I just love how we Americans view Presidents, the opposing party’s is responsible for everything, but how can we expect our party’s President to control the economy? Larry feels that suddenly Biden is responsible for oil drilling, refining, import/exports and the price at the pump as if he owns and controls all….

    Because Biden is moving us away from fossil fuel, Larry deduces he is actively sabotaging oil to reach his goal. For a guy who hates it when people make assumptions about his thoughts…..glass houses. So strong is Biden’s environmental desire, he apparently will sacrifice the midterms, that’s some passion, for a politician no less. I tend to doubt that’s his goal. The oil guys, who actually do own the problem, concur that Biden’s vision for fossil-free energy has sapped their ability to invest, a very convenient piece of political leveraging. I am pretty sure the oil guys are against anything that makes them work harder for profits.

    Not going to go on from here, Larry is factually wrong too many times in his tome. He is right we have a problem. But Larry, the facts on the ground, from the EIA, say it’s not the drilling, it’s not the leases, it’s certainly not the Keystone pipeline for Canadian oil to hit our refineries that are already operating close to maximum. Which means it’s not Biden policy screwing the pooch at the pump. There’s plenty of wells, plenty of leases, and we don’t need more Canadian oil. It’s the refineries, and that bad decision was made on Trump’s watch, on Trump’s dime, not that the Turnip had anything to do with the decision. He has never pumped gas in his entire life. Probably hasn’t even smelled it. And even if the oil guys wanted to build them, and they don’t; it would take years, and thus —- that decision was most certainly made on Trump’s watch. Even if Biden bought them a new refinery, the oil wouldn’t flow until the next Presidential term. And that fact makes your jack, whack. This may be Biden’s watch, Biden’s to fix, but clearly, it is not Biden’s policies that caused no new refineries to be initiated on Trump’s watch.

    Now pass the burger, I’ll have mine served on a frisbee, suitable for flinging.

    Tax holidays are a 5-15% solution, emergency releases a 10% solution, capping oil profits may be a 10% solution, the Russian boycott is a 10% problem. But 30% would knock over a buck off the current price so every little bit can help IF we can get some competitive action going at the pump. The demand to make more from volume is obviously there.

    And herein comes the business/politics leverage. Refineries are a huge investment, will take three years to complete and over a decade to be profitable. So, if we wanted extra supply today, we needed to start the refinery in 2019 or earlier. Guess who’s watch that was on? Of course oil producers want to remove all impediments to profit. That might include Biden. But don’t be fooled; they will profit from oil, they will profit from solar, they will profit from all energy — it’s what they do. They will also lobby for anything that makes their business life easier, and lessening regulations always does that for them.

    Might be just as good to invest in oil competition if we want to drive from here to there cheaply. Don’t think we’re going to see a huge supply increase for years unless it comes from overseas.

    • Ben

      Biden and the democrats are responsible for all of the high prices.

      • Ben

        And for world hunger.

    • larry Horist

      Frank Stetson. You do not have to believe me that Biden is working to abolish fossil fuel. He has said that is exactly his plan — and by many means, he is implementing it. I gave you some of the specific ways … but there are others. He is trapped between his policies and the growing gas crisis. And for your rebuttal you cite the EIA … Biden’s energy office? Oh yeah … that is a credible source. LMAO The release of oil from the US oil reserves (two times) has had no impact on the pump price. The tax holiday gives the average motorist a $20 saving per quarter — and the holiday is only for one quarter. Oil profits are less to day than they were under Obama — and lower than most tech companies. And even if you capped them at a workable rate, the saving at the pump is nominal. At least you admit that the Russian war is responsible for only 10 percent of the price problem. And you say the problem guest back to Trump in 2019. I really hate to embarrass you when you make utterly ignorant statements. Under Trump we were producing more oil. The problem now is that Biden cut production. He inherited a net oil export nation and brought us to a oil begging nation with high prices. That is in no way the fault of the Trump administration In 2019, we were refining enough oil. Apparently you logic switch was turned off on that snide remark..

      • frank stetson

        Larry, your desire to attack rather than discuss seems to overwhelm your ability to comprehend when you say: “You do not have to believe me that Biden is working to abolish fossil fuel. He has said that is exactly his plan — and by many means, he is implementing it” in response to my: “Because Biden is moving us away from fossil fuel, Larry deduces he is actively sabotaging oil to reach his goal.” Uh…..

        Then you divert to: “I gave you some of the specific ways … but there are others” after I destroyed most of your “specific ways,” to which you have not a comment in retort.

        I agree with your: “He is trapped between his policies and the growing gas crisis” but, of course then you don your tired, worn tin foil hat concluding: “And for your rebuttal you cite the EIA … Biden’s energy office? Oh yeah … that is a credible source” to which I say “that’s all folks” since if Larry can’t come up with the facts, he slams the source disbelieving anything he doesn’t already believe as not being credible based on the source. He does not offer any support, he does not say anything specific is factually wrong. Basically, he is telling us he believes nothing from the Government. Literally every Federal source since Biden is in power and somehow the oath to the Constitution does not matter above party anymore. Sorry, Larry, that’s your Republican game, not ours.

        The bottom line is Larry has NO FACTS to dispute what the EIA has published so he attacks the EIA as not having any validity to begin with. That’s a last gasp dodge of the feckless debater. Nice try, Larry.

        Then you repeat our agreement on actions but then attempt to toss in: “And you say the problem guest (sic) back to Trump in 2019. I really hate to embarrass you when you make utterly ignorant statements. Under Trump we were producing more oil. The problem now is that Biden cut production.” Larry, under Trump we did produce more oil until 2020 when we produced less, under Trump, than we did in 2019. Those numbers are available in lots of places from lots of sources. With less production, even with less demand, imports dropped making us a net exporter until, under Biden, demand returned, PRODUCTION did go up, just not enough to cover the pent-up demand, so we imported again. Under Biden: “Furthermore, responding to robust demand and crude oil prices touching their highest levels in seven years, EIA reports that U.S. crude oil production is also on the rise, and is forecast to eclipse the 12.3 MMbbl/d pre-pandemic peak set in 2019. On November, U.S. output surged to 11.8 MMbbl/d, the most in any month since April 2020. For full-year 2022, the agency projects production climbing to an average of 12.0 MMbbl/d and then continue growing to a new historical annual high of 12.6 MMbbl/d in 2023.” https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

        Of course, it’s the EIA so you need to actually prove why you can’t believe your eyes?

        As I said:
        – The problem is not oil drilling, it’s the refineries.
        – Refineries take three years to bring online. Do the math, it’s 2022. When would a refinery need to be started for 2022 production? Hint: three years.
        – Who was President three years ago? Hint: orange hair and lies

        So, no doubt Biden is helping us, legally, move away from oil. That’s the right thing, IMO. No doubt inflation, supply/demand mismatch, and the war push against that. But the core issue in the US is refineries, and that’s a three-year build — if they ever start one. Will they falter on that? They have so far. Is it lobbying? Seems to be, seems to be working, convinced you that it’s Biden and not big oil.

        • larry Horist

          Frank Stetson … when you write are you in some altered state of mind. After I give you FACTS, you say there are not fact. Your so-called FACTS are opinion at best or misinformation based on ignorance … or just false political narratives. You cherry pick information from sources that are not credible. Are you actually trying to say that Biden is not hell bent on shutting down the fossil fuel industry asap … that he has instituted polices to reduce production … that he is not limiting exploration, drilling and refining??? He has caused the increase in gas prices and triggered the inflation but flooding the economy with money while restricting supplies. And I suppose you think those dishonest and childish ad hominin attacks help bolster your vapid arguments. That just exposes how weak minded you really are But keep ’em coming. I is good for business…lol

          • frank stetson

            Is that the best you can do? Accuse me of ad hominin’s as you launch them at will?

            Not a number in the whole retort.

            In the previous one you mentioned the release of US oil reserves has had no impact on the pump price. The tax holiday gives the average motorist a $20 saving per quarter, as would be the profit cap and the war is worth 10 percent of the price problem to which I have responded to in the past in concurrence, however, every little bit helps.

            But you ignore the fact that the oil production began it’s decrease, under Trump, in 2020. You ignore the fact that there are plenty of wells, plenty of leases, the gulf is wide open and just signed the largest gulf lease ever, and that the bottleneck, as seen by experts the across the country, is the refineries currently operating at over 90%, there ain’t no more room at the refinery INN. You ignore the fact that refineries take three years to build. You ignore the fact that the build time means if you wanted more refinery production this year, you would start the refinery build in 2019 =-==== that’s under Trump’s watch.

            But you won’t believe oil production dropped under Trump and basically, you just ignore the rest. At this point I have to conclude there is something else going on if you can’t see the truth in pictures even. The fucking production output line goes down in 2020, under Trump. There are no refineries started in 2017, 18, 2019, or 2020. How the fuck do you expect more gas when current refineries are going at 90% capacity? Does Biden’s green energy policies affect that in any way whatsoever? Of course NOT.

            You have to look at the facts. I can not fix stupid. Never could.

          • larry Horist

            Frank Stetson….. Have you not noticed that I do engage in serious exchanges with others — even those who disagree with me. But not you. That is because I have no respect for your arrogant insults … your whining … and your lack of knowledge. Answering you point-by-point is a waste of time. I leave it to other readers to evaluate you contributions. I prefer intelligent and civil discourse. That leaves you out.

          • frank stetson

            Yes, I have noticed when you can’t hold a conversation for lack of facts, and with a number of commentors, you consistently:

            – accuse folks of being in an altered state and making up what they think Larry said because you can’t believe your words made them think that.

            – instead of refuting a point, instead of making a point, you just conclude they are wrong and your support is “everyone knows that.”

            – engage in name calling, this time “arrogant insults,” “whining,” “lack of knowledge,” “intelligent and civil discourse,” with less than 75 total words no less, like 10% insult or demeaning descriptor while pretending you rise above all that. Heck, I go back one more post and your defense is: “ignorant,” “not credible,” “dishonest,” “childish,” “vapid,” and “weak minded.”

            – tell them their data sources are not valid in this case you say “you cite the EIA … Biden’s energy office? Oh yeah … that is a credible source” as if the Federal Government immediately works for whatever party comes into power. Like the oil industry wouldn’t scream bloody murder if the EIA was wrong.

            – tell people you already told them even if they can’t see it

            – tell people to look it up themselves because it’s easy. That’s a personal favorite.

            – dismiss them by generalizing the everything said is “cherry picking,” or “spin” but never offering an alternative set of facts — just the conclusion of your dismissal.

            This is your typical stance one you determine you can not stand the line, you can’t effectively lodge a factual response, you just wither into this typical Horist backup behaviors. As far as I am concerned, it’s great if you don’t respond, it has never been a dialog anyway and you have little to add since you most often can not even support what you say. Saves me from responding to this sort of thing too.

            Hey Larry, this time, basically I asked for one thing, one fact, one shred of support against where or what the EIA said, to prove that the EIA is wrong and Larry is not completely full of shit. And yes, that brings the rest of your tome crashing down like a house of cards, sans one in the foundation.

            Have some balls and show us that I am wrong when I proclaimed that “Larry has NO FACTS to dispute what the EIA has published so he attacks the EIA as not having any validity to begin with. That’s a last gasp dodge of the feckless debater. Nice try, Larry” specifically that:

            – the peak of oil production was 2019.
            – oil production fell under Trump in 2020.
            – the pandemic caused the US to be a net exporter, the pandemic’s retreat caused the imports
            – Refineries are operating 24×7 at full capacity, 90%
            – it takes three years to produce a new refinery, none were started under Trump or Biden

            So far, your response has been “arrogant insults,” “whining,” “lack of knowledge,” “intelligent and civil discourse,” “ignorant,” “not credible,” “dishonest,” “childish,” “vapid,” and “weak minded.”

            Seriously, you just have no rebuttal?
            No facts?
            Crickets?
            BUSTED

            Any yes Larry, you are correct. The reader can decide whether oil production fell in 2020, under Trump, and that refineries take three years to bring online so one in 2022 would need to be started, under Trump, in 2019. If so, Larry’s arguments are full of shit. If not true, then I guess Larry can call me all those names and add a few more, like liar, too.

          • larry Horist

            Frank Stetson … My, my … we sure got our undies all bunched up. You never get the point…. geez. Ok .. in big letters (the computer does not allow crayon script, sorry). YOU ARE NOT A WORTHY COUNTERPOINT FOR A SERIOUS CIVIL DIALOGUE. I DO NOT WASTE TIME THAT WAY. But you should notice that I do hold serious and civil dialogues with those who have the temperament and intellect to make it worth while. I not only impart information, I like to learn from others because their responses are intelligent — not based on some emotional warfare with an imaginary Larry Horist strawman.

    • Karen King

      Yes, Biden and his cronies ARE to blame for the high gas prices and Inflation! It was Baden who shut down the Keystone Pipeline, it was bad and who caused the oil refineries to close down that’s shut down now, it was Biden and his stupidity that caused the prices of food and all to rise. Little does he realize that when he does all this, and all this go green junk that he’s talking about and everything, where is he going to get the fuel to fly his private jet plane, and stuff and where is he going to get his electricity from? All this isn’t gonna matter to him because all the money he has.

      • Karen King

        FJB needs to go! He and the dumbocrats blamed Trump for everything for the past 4 years and are still blaming him to this day! 😡

        • Ben

          Only because the burger-tossing, steering wheel grabbing insurrectionist is guilty to all except his sycophant sheep who keep him alive with their donations for the Don legal fund.

  3. Dan

    So much for serving the American people. Biden is pushing his own agenda. That’s money.