USA 2024 Elections Thread

grarpamp grarpamp at
Thu Nov 3 14:46:27 PDT 2022

Retarded SocComWoke Democrats call to nationalize US oil industry
and further oppress them (and raise prices) with yet more taxes
arbitrarily denied permits, myriad forced sunset measures,
depleting Strategic Petroleum Reserves for political gain...
While free market CEOs are fighting back to keep US moving stably...

It's no secret the Biden administration's radical energy policy is
reality-defying and entirely focused on creating an anti-fossil fuel
economy. President Biden wants to end America's use of conventional
energy, such as oil and natural gas, but at the same time, desperate
for more domestic crude and refining production to suppress fuel
prices at the pump ahead of midterm elections next week. This
absurdity was called out by one of North America's biggest pipeline
operators, likening the incoherent strategy to "a sitcom or Saturday
Night Live skit."

Bloomberg said Energy Transfer LP's co-chief executive officer,
Marshall McCrea, was heard on an earnings conference call slamming the
Biden Administration's chaotic energy policy earlier this week.

    In an extended coda to the company's earnings conference call late
Tuesday, Marshall McCrea lamented what he said were "hostile" federal
administrators installed to attack the energy industry, and questioned
the pace of the transition to renewables, which he said threatened
global energy security.

    McCrea cited the White House's initial focus on curbing drilling
permits and pipeline approvals, its subsequent push to boost oil
supplies after gasoline prices surged this year, and the president's
threat earlier this week to tax oil companies' "windfall profits"
unless they invest to boost production.

    "I mean, my goodness, if this doesn't seem like a sitcom or
Saturday Night live skit, it'd be funny if it wasn't so tragically
sad," he said. "I guess we're kind of tired of being attacked in the
fossil-fuel business." -Bloomberg.

Energy Transfer controls a vast network of oil and gas pipelines in 41
states and Canada, spanning more than 120,000 miles. Intense
opposition from environmental groups and Democrats has made it nearly
impossible for the pipeline operator to expand its network to increase
flows across the country. One of the Biden administration's most
well-known shutdowns of a pipeline in construction has been the
blocking of TC Energy Corp.'s $9 billion Keystone XL project.

    "Modern life with a reasonable standard of living and affordable
energy is simply not possible without fossil fuels ... this illogical
and irrational politically-led rush to renewables will have
devastating impacts on the cost, reliability, and security of energy
around the world as we're seeing in Europe and other places," McCrea
continued in the earnings call.

The American Petroleum Institute - which represents 'Big Oil' -
recently sent a letter to the president offering some advice to ease
the bottlenecks and lower gas prices for consumers, though it's hard
to say if the Biden administration would actually follow the ten steps
to ensure energy security because they're too focused on the
decarbonization of the economy (or maybe too focused on Ukraine).

And while the White House is doing very little to boost domestic crude
production, they've mulled over the idea of imposing higher taxes on
oil firms that do not boost production and refining capacity. This
absurdity is causing unnecessary hardship and costing Americans dearly
-- hence why Energy Transfer's top exec called it "a sitcom or
Saturday Night Live skit."

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