US Energy Secretary Jennifer Granholm emerged from an emergency meeting with major oil refiners on Thursday with no plans to lower gas prices but with a vague promise to keep talking, Reuters reported.
The Biden administration’s efforts to lower gas prices are hampered by the Democratic Party’s anti-fossil energy stance. Far-left climate change activists will not tolerate an expansion of domestic oil production, and myriad regulations have helped reduce refining capacity in the United States and prevented refiners from opening new plants.
During the election campaign, President Joe Biden promised he would end fossil fuels. “I want you to look at my eyes. I guarantee you, I guarantee you we’re going to end fossil fuels,” he said in New Castle, New Hampshire.
“No more subsidies for the fossil fuel industry,” Biden said a year later. “More drilling, including offshore. No ability for the oil industry to continue drilling, period,” Biden said of his energy policy should he win the presidency. “It ends.”
Biden kept his promise. On the first day of his presidency, Biden terminated the yet-to-be-completed Keystone XL pipeline project. Biden has also hiked up the private and public financing costs of oil drilling and halted drilling on public lands.
A Convention of States Action/Trafalgar Group poll also showed that 53% of voters think Biden is trying to raise gas prices to force citizens to use less fossil fuels.
Gas prices are currently hovering around $5 a gallon, doubling since former President Trump left office, according to AAA data.
In an effort to reduce soaring gasoline prices, the president asked Congress for a 90-day gasoline tax holiday. Many Democrats are skeptical of the request, including House Speaker Nancy Pelosi (D-CA) and Sen. Chuck Schumer (D-NY).
Investment bank ISI Evercore said on Monday the proposed gas tax exemption was an ineffective talking point that shows the White House is running out of ideas on inflation and fuel prices. ‘essence. “A long time ago in February, when Democratic senators began to propose a gas tax exemption, it immediately became clear to us that the idea was a non-starter in Congress and should be viewed primarily as a mid-term talking point,” ISI Evercore said.
“It should have been a quick decision from the White House on whether this makes a good message for midterms,” the organization said. “Taking four months to think about a policy is one thing, taking four months to decide on a talking point is another.”
Follow Wendell Husebo on Twitter and Gettr @WendellHusebø. He is the author of Politics of Slave Morality.