USA 2020 Elections: Thread

[grarpamp]

Biden Admin Cancels Huge Alaska Oil And Gas Lease As Gas Prices Hit
Record Highs

Pelosi Bashes 'Big Oil', Pitches Plan To Make Gas Price Increases Illegal
Consumer Fuel Price Gouging Prevention Act

Perhaps an 'economist' could explain what happens to supply of
something is government enforces a cap on the price of that thing...
(Hint: it does not go up!)
Brace for more shortages if this bill passes!


    Within his first week in office, President Biden signed an
executive order temporarily suspending new oil and gas leases on
federal lands. The administration resumed the new leasing last month
following court challenges against the ban. The administration is
appealing a ruling in which Judge James Cain, a Trump appointee,
struck down the ban. -Fox Business

In Wednesday remarks to Fox Business, former Trump-Pence EPA
transition member Steve Milloy traced the lease cancellations to
Biden.

"In Alaska, the problem was that the greens scared off virtually
everyone," he said. "It's expensive to explore and drill, and the
greens made it pretty clear, they were going to make it even more
difficult."

According to Milloy, pressure from climate activists scared oil
companies away after former President Trump opened Alaska's Arctic
National Wildlife Refuge to drilling - a move which attracted just
three bidders, including the state of Alaska itself.

"I blame Biden for all lack of production. He has scared away
investment," he said. "I don't trust him in court defending leasing."

Frank Macchairola, a top official with the American Petroleum
Institute - the country's largest oil and gas trade association,
called the cancellation "another example of the administration's lack
of commitment to oil and gas development in the US."

"The President has spoken about the need for additional supplies in
the market, but his administration has failed to take action to match
that rhetoric," he told CBS News, adding that politically it won't
"play well."

"In the kind of price environment that we're seeing, there are
negative consequences to shutting off oil and gas development, both
politically and practically," he said.

According to AAA's gas price calculator, average gas prices in the US
have hit record highs in recent days - with the national average
reaching $4.374 on Tuesday, and $4.404 on Wednesday, both records.