I paid $3.79 per gallon for gas this morning. Thanks, Obama (and Biden)
I noticed my gas tank was getting low this morning, and with the most recent oil price increases resulting from the Russian invasion of Ukraine, I decided to bite the bullet and fill up today at $3.79 per gallon before things get worse.
High gas prices have pushed liberal lawmakers and commentators to look for ways to absolve themselves of the role their actions played in creating this crisis. A prime example is President Biden’s cancelation of the Keystone XL Pipeline, which was one of his first actions upon taking office.
Liberals have dismissed conservatives who are urging President Biden to reverse his decision on the pipeline, arguing it would take multiple years for the construction of the pipeline to be completed.
This kind of “learned helplessness” regarding energy policy ignores the fact that TransCanada first applied for a permit for the Keystone XL Pipeline in 2008, and was left in limbo by the Obama administration until it finally killed the project in 2015. If Obama had instead approved the pipeline, it would probably be operational today.
While Keystone’s cancelation plays a role in rapidly rising prices, it is important not to overstate the project’s importance. Many factors, including economic recovery from the COVID-19 pandemic, other Biden administration policies designed to inhibit American energy production, and the world’s reaction to Russia’s invasion of Ukraine are also exerting upward pressure on oil prices. However, we need to understand that bad policy decisions compound over time, and these bad policies can harm us much later when we’re not expecting it.
Liberal energy commentators pretend there is nothing that can be done in the short term to alleviate the global energy crisis while simultaneously imposing new policies that make it more difficult to produce American energy. This conveniently “memory holes” the Obama administration’s culpability in canceling the pipeline.