Author Topic: How Joe Biden caused the diesel supply crisis he is complaining about  (Read 142 times)

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How Joe Biden caused the diesel supply crisis he is complaining about
Jazz Shaw 10:01 PM on November 28, 2022

During recent public appearances, President Joe Biden has continued to complain about energy prices as well as the potentially catastrophic shortage of diesel that has been forecast to hit the United States soon, particularly in the northeast. Of course, he never takes the blame for any of this himself. He instead tries to blame the “greedy” energy companies or, of course, Vladimir Putin. He has called for bans on oil and gas exports and even suggested a mandate that diesel stocks be maintained at a higher level. But a new report from the Institute for Energy Research addresses the actual root of these problems. What we’re facing is a significant loss in refinery capacity in the United States and its various territories. We’ve lost more than a million barrels per day in production capacity, but rather than working to rebuild that capacity, the White House is issuing new edicts that will result in diminishing it further.

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    President Biden is complaining about diesel prices and production and his Administration is looking at banning petroleum exports or placing minimum requirements on diesel stocks, which they think will fix the problem. The real problem is that the United States lost one million barrels a day of refinery capacity due to reductions in demand from COVID lockdowns, refinery conversions to biofuels due to lucrative subsidies and onerous environmental regulations.

    Emissions rules and general regulations have increased under the Biden administration, raising operating costs and causing some refineries to either shut down or not expand operations. The Biden Administration is doing nothing to fix the real problem. Instead, it is putting new environmental requirements on a refinery in St. Croix that could help the diesel situation in the Northeast.

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https://hotair.com/jazz-shaw/2022/11/28/how-joe-biden-caused-the-diesel-supply-crisis-he-is-complaining-about-n513984
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