“Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery. The price of crude oil has been higher than it was at the end of 2019, before the onset of the pandemic. While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. At a critical moment in the global recovery, this is simply not enough. President Biden has made clear that he wants Americans to have access to affordable and reliable energy, including at the pump.” – Jake Sullivan, National Security Advisor (emphasis added)
Almost a decade ago, the official mascots of the London 2012 Summer Olympics were revealed. It didn’t go very well. Meet Wenlock and Mandeville:
At the time, I was perusing a magazine article collecting various reactions to the mascots – I think it was in Time but I can’t be sure – and one commentator delivered a line that will stick with me forever.
“This can only be the work of a committee. It has cc written all over it.”
I am reminded of Wenlock and Mandeville as I observe America’s rambling approach to energy policy over the past several years. When you ponder the logical consequences of where we are headed, it is hard not to conclude that this too must be the work of a committee, and a disjointed one at that. More on the members of that committee a little later.
Let’s start with the opening quote for this piece, which I took from an official White House statement, because it is quite the stunner. The President and his allies are limiting domestically produced oil and gas at every opportunity, which should come as no surprise – they ran for office on exactly this policy, after all…
…click on the above link to read the rest of the article…