Politicians Backing Net Zero Working Hard To Make Gas Prices Much Higher by Alex Epstein
Since Americans left to their own free will choose to use a lot of gasoline, the only way for “net zero” politicians to eliminate gasoline is to make it unaffordable or illegal
Politicians Backing Net Zero Working Hard To Make Gas Prices Much Higher
by Alex Epstein
in Green Energy, News and Opinion
Reading Time: 6 mins read
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Any politician who supports the “net zero” agenda is working to make gasoline prices much higher. [some links added]
Every politician will claim this summer that they’re working to make gasoline prices lower because they know that’s what voters want to hear.
But the many politicians that support “net zero by 2050” are working to make gasoline prices higher.
For the US to become anywhere near “net zero by 2050,” gasoline use needs to be virtually eliminated.1
Since Americans left to their own free will choose to use a lot of gasoline, the only way for “net zero” politicians to eliminate gasoline is to make it unaffordable or illegal.
Low gasoline prices are totally incompatible with “net zero.”
The Biden-Harris administration knows that all fossil fuels, including gasoline, need to be far more expensive for them to pursue “net zero.”That’s why the EPA set a rising “social cost of carbon” starting at $190/ton—the equivalent of adding $1.50 a gallon to gasoline prices!2
From Day 1, President Biden has openly supported the destruction of the fossil fuel industry, from his 2019 campaign promise of “I guarantee you, we’re going to end fossil fuel” to his 2021 executive order declaring that America will be “net zero emissions economy-wide” by 2050.3
Kamala Harris has, unfortunately, been even more supportive of the “net zero” agenda and therefore higher gasoline prices. In 2020 she supported a fracking ban, which would have destroyed 60% of US oil production.
And she cosponsored the fossil fuel-destroying Green New Deal.4
Of course, Joe Biden and Kamala Harris, like all politicians, claim to be for lower gasoline prices. But because their real priority is the “net zero” agenda, in practice they are doing everything they can to raise prices.
Here are 8 specific actions they’ve taken.
Biden Gas Gouging Policy #1
Biden has worked to increase gasoline prices by taking a “whole-of-government” approach to reducing greenhouse gas emissions. This entails reducing oil investment, production, refining, and transport, all of which serve to increase gas prices.5
Biden Gas Gouging Policy #2
Biden has worked to increase gasoline prices by expanding the anti-fossil-fuel ESG divestment movement. ESG contributed to a 50% decline in oil and gas exploration investments from 2011-2021, resulting in artificially higher prices. Biden is making it worse.
Biden Gas Gouging Policy #3
Biden has worked to increase gasoline prices via “climate disclosure rules,” an oil and gas investment-slashing measure that coerces companies into spouting anti-fossil-fuel propaganda and committing to anti-fossil-fuel plans—plans that will raise gas prices.
Biden Gas Gouging Policy #4
Biden has worked to increase gasoline prices by issuing a moratorium on oil and gas leases on federal lands, stunting oil and gas production and investment. When it’s harder to produce and invest in oil, gasoline gets more expensive.6
Biden Gas Gouging Policy #5
Biden has worked to increase gasoline prices by hiking the royalty ratefor new oil leases by 50%. This is money the government gets from the industry on top of taxes. It discourages oil investments, meaning less production meaning higher gas prices.7
Biden Gas Gouging Policy #6
Biden has worked to increase gasoline prices by restricting oil and gas leasing on nearly 50% of Alaska’s vast petroleum reserve. This is a crippling blow to Alaska’s oil and gas industry. Less Alaskan oil means higher gas prices.8
Biden Gas Gouging Policy #7
Biden has worked to increase gasoline prices by threatening to stop oil and gas mergers. Mergers, which increase efficiency, benefit domestic production and lower prices. Blocking mergers raises oil prices long-term, which means higher gas prices.
Biden Gas Gouging Policy #8
Biden has worked to increase gasoline prices by canceling the Keystone XL pipeline. This prevented Canada from using its vast oil deposits to its fullest potential—meaning lower global supply and higher prices for oil and gasoline.9
Joe Biden should level with the American people and make clear that his agenda is to increase gasoline prices—much like Obama’s infamous admission that “electricity rates would necessarily skyrocket” under his energy plan.
Or he should apologize and embrace energy freedom.10
Read more at Energy Talking Points
Energy supports economic development. The domestic O&G industry evolved over the past 150 years. More importantly, this industry is key to the US economy. Fossil fuels can't be replaced over night. Policies and penalizing bills add chaos.
Energy abundance and reliability is needed for our future. It will take innovation and cooperation to define the energy transition that ensures quality of life for ALL citizens, not the privileged few.