The Double Irony Of Asking OPEC To Increase Oil Production
- Nov 15, 2021 4:33 pm GMT
As I wrote in February of this year in The Inherent Risks In President Biden’s Energy Plan:
“If we prematurely discourage investment in fossil fuels — and then our dependence doesn’t decline as rapidly as the Biden Administration envisions — that is a recipe for shortages, higher prices, and greater dependence on foreign nations for our energy.”
Like the Obama Administration, the Biden Administration initially adopted a relatively hostile position toward the fossil fuel industry. The revocation of the Keystone XL Pipeline permit and the temporary suspension of new oil and gas leases on federal lands were policies that signaled that the Biden Administration wants to move the country away from oil.
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