What has happened to crude oil prices during Biden's Presidency? The blog will explain the impact.
Biden is now meeting with Putin tomorrow and the price of crude oil is the biggest factor that no one is talking about.it. Here are the numbers. On the date that Biden was elected the price of crude oil was $38 per barrel and now it is $72 a barrel. That is almost double! Did you ever think about how that impacts different countries? I did not think so. Who are the counties who have the greatest amount of crude oil reserves? Further, how much do they have on a per capita basis? Russia has a lot more crude oil per capita than does the USA. For Russia, one of their biggest sources of trade income is the exportation of crude oil and natural gas. When Biden canceled the Key Stone pipe line, the impact was to make Russia twice as rich as it was. Think about how much trouble can Russia release on the world with all that new wealth?
Canada has one of the largest crude oil reserves in the world and they are right next door to the USA, so why did Biden cancel the Key Stone pipe line? It hurt both Canada and the USA. What was the logic in that? How could it be any better for the USA to get cheap energy in the form of crude oil by pipe line from our neighbor? If we want a better quality of life, it would seem to me that one of the main drivers of that would be cheap energy. Notice that most of the poor countries around the world are countries that do not have crude oil reserves.
For those who feel that global warming is going to destroy the human race here on Earth need to wake up. Canceling the Key Stone pipe line actually causes more Carbon Dioxide to be put into the air than without it. We will still get some of the crude oil from Canada, but it will have to come by rail tank car that cost more and are more prone to spills. Does anyone understand this simple fact?
I should have also pointed out that the USA has some of the largest crude oil reserves too and that crude oil is worth more, but it can not be exploited because Biden has prevent the drilling for it on public lands. Natural gas is also more difficult and more expensive to produce because Biden has prevented "fracking" on public land too. Remember that natural gas is what heat our homes and is on of the cleanest ways to produce electricity for all these electric cars!
Does the word "suicide" sound appropriate at this time? That seems to me that what Biden has done is to have committed suicide for the economy of the USA while helping the economy of our one of our biggest enemies, Russia. You are not dead yet, but over the next few years, you quality of life will start going down and there will be nothing that you or Biden can do about it. We have fallen off a cliff and do not feel a thing yet, because we have not hit bottom yet. The fact that you now are paying more for gas for your car is the least of our problems that you will soon see!
