Bloomberg: Greenflation is very real and, sorry, it’s not transitory
Advocates of wind and solar power often tell us that these energy sources will result in lower energy prices, but the facts on the ground do not support this claim.…
Democrats, including (Cryin’) Chuck Schumer, have attempted to fault President Trump for high gas prices in the wake of the administration’s decision to impose sanctions on Iran, limiting the quantity of oil they country can export.
“President Trump’s reckless decision to pull out of the Iran deal has led to higher oil prices, these higher oil prices are translating directly to soaring gas prices, something we know disproportionately hurts middle and lower income people.”
It’s as if Senator Schumer has no sense of self-awareness. The Obama Administration took numerous measures to limit the ability of oil and gas producers to help make the United States energy independent.
Obama tried to indefinitely delay the Keystone XL and Dakota Access pipelines, which would have allowed oil from Canada (a country that is far more friendly to our interests than Iran) to flow into the United States.
Obama also restricted oil leases on the continental shelf and other federal lands. Oil and gas production has skyrocketed since 2008, but these were in spite of Mr. Obama’s policies, and certainly not because of them.
Furthermore, both Bernie Sanders and Hillary Clinton spoke of banning, and greatly restricting hydraulic fracturing, respectively, during debates preceding the Democratic primary. Doing so would have drastically undermined the ability of the United States to produce American oil on American soil.
Meanwhile, the Trump administration has approved pipelines, allowed for further exploration of oil and gas resources, and sped-up the permitting backlog that plagued federal bureaucracies during the Obama years.
That’s what makes Schumer’s attempts to pin increasing gas prices on the Trump administration feel so opportunistic and insincere.