Manhattan Contrarian by Francis Menton 7/10/2021
The great thing about our freedom-based economic system is that the government doesn’t have to do much at all in order for the people to prosper and the economy to grow. Just sit back and watch the people create businesses, put each other to work, and provide for every imaginable human need.
But we now have a government in the hands of people who hate America and hate its freedom-based system. The current administration is actively working to undermine the American economy and advance the interests of our geopolitical adversaries. In no area is this more true than the field of energy. In this field, the Biden Administration came in with the explicit goal of undermining American energy production. Indeed if an administration wanted to undermine American energy prosperity as much as possible and comparably benefit our adversaries, it is difficult to think of anything it would do different from what the Biden Administration is doing.
During most of my adult life, “energy independence” has been a bipartisan goal throughout the federal government. That goal was actually achieved under President Trump. Within just a few months, Biden has undone that achievement. The administration has made no secret of its goals to reduce U.S. energy production of the things that work (i.e., fossil fuels) and to drive up their price. Let’s just make a small list of key actions in furtherance of those goals:
• On his first day in office, Biden revoked the permit for the Keystone XL pipeline, intended to bring some 800,000 barrels of crude oil per day from Canada into the U.S.
• The next day, Biden suspended all permitting of oil and gas drilling on federal lands and waters.
• Biden’s EPA then set in motion the reversal of Trump Administration loosening of rules on methane emissions in the process of producing oil and gas. These tightened Biden restrictions have the effect of increasing the cost of production.
• Currently in the works are rules from the SEC to require extensive new disclosures by energy producers (and others) of supposed “climate”-related risks.
More:
https://www.manhattancontrarian.com/blog/2021-7-10-biden-administration-working-to-undermine-america
