The Biden administration has faced numerous hurdles in 2021. American citizens have criticized the current President for multiple crises, ranging from the border to Afghanistan.
But currently, the #1 concern for most is the economy. Spiraling inflation and skyrocketing gas prices in recent months have caused Biden’s approval ratings to plummet.
And just days after POTUS promised to lower those gas prices, he makes a very controversial decision.
For much of the year, Biden has been accused of caring far more about the far-left agenda than any of America’s most pressing issues. This includes giving preference to the “green” push.
That’s why many have argued that the administration doesn’t mind high oil prices, because it plays into their plan.
However, President Biden did say he’d take steps to lower gas costs for the holiday season — which is why his latest idea seems confusing to some economists.
The administration has accused oil companies of artificially inflating prices via illegal actions, and Biden has sworn to look into the situation. But now it appears he’s gone in another direction.
And this won’t help lower gas prices at all. It might have the opposite effect, in fact.
The Biden-Harris administration issued a report Friday to increase the price of oil leasing fees on federal lands in the United States by 50 percent…
Despite record-high gasoline prices impacting American families across the country with winter around the corner, the Biden-Harris administration is recommending Congress hike the cost of oil leases on government lands from 12.50 percent to 18.75 percent.
This royalty rate increase doesn’t reflect the administration’s promise to lower gas prices, even though they’ve asked OPEC to up their oil supplies.
The increase will bring in more money, though: according to the New York Times, it will generate “$2.5 billion by the end of the decade.” Washington has already brought in $1.6B more from oil leases this year than it did last year.
This probably won’t help the price at the pump, however.
If it happens, it would be the first rate increase since 1920, and it plays directly into the hands of the far-left’s green agenda. Again, this appears to run counter to Biden’s previous promise.
Former President Donald Trump has often called out the current administration for its economic failures. This goes double for the energy issue:
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Trump worked hard to make America energy independent, so the country wouldn’t have to rely so heavily – if it all – on overseas production of oil.
Since Biden took office, though, much of that has changed. The war on fossil fuels in America began the instant Biden assumed control, and the result is soaring gas prices and reliance on OPEC again.
It’s really not what Biden should’ve wanted, given the myriad of other issues assaulting his administration.
And if things don’t change soon, and the President’s job performance ratings don’t improve, the “red wave” Republicans have been hoping for in 2022 and 2024 might be inevitable.