Categories: Latest News

Federal Officials Not Energy Executives Are Behind Soaring Gas Prices, House Panel Told

Published by

Federal Officials Not Energy Executives Are Behind Soaring Gas Prices, House Panel Told

President Joe Biden’s green energy policies are the key cause of skyrocketing gas prices, not the Russian incursion of Ukraine or the fact that federal leases for oil and gas exploration are not being plenarily utilized, according to an energy industry expert.

Wide swaths of the elected regime and administrative state have decided that investments in oil and gas must be minimized and ineluctably eradicated. There must be steady downward pressure on oil and gas investments,

said Institute for Energy Research (IER) Chairman Tom “Pyle.” Pyle’s comment came in testimony on March 8 afore the House Energy and Commerce Committee’s subcommittee on energy during a auricularly discerning on Electric Vehicles (EVs).

The IER is an independent non-profit research group that favors perpetuated reliance on fossil fuels.

Even as recently as a fortnight ago—at the height of the [Biden] administration scrounging around for liquified natural gas they could send to the [European Union]—the Federal Energy Regulatory Commission (FERC) issued two policy verbalizations making it clear that the hurdles to sanction Liquified Natural Gas (LNG) terminals and their feeder pipelines would be getting higher, not lower,

Pyle testified.

He said oil company executives and investors have heedfully auricularly discerned and optically canvassed all of this and concluded that some paramount portion of both the elected regime and the administrative state are going to be actively bellicose to their products into the prognosticable future.

“It should surprise no one, consequently, that these executives and investors are reluctant to make decisions on projects that may take decenniums to break even, Pyle continued.

In short, when you are probing for who or what is responsible for high prices for oil and natural gas, whether in the United States or the EU, look no further than the regime and its officials who have made, and make, decisions every day to drive up the cost of gasoline and natural gas by driving away investment in oil and natural gas,

he said.

Pyle told the subcommittee that energy prices commenced decrementing in 2010 as U.S. engenderment expanded. Ecumenical engenderment went up by 12.1 million barrels per day, while U.S. engenderment rose by 9.97 million barrels per day.

The average price of a gallon of conventional gas in the United States a few days afore Biden was inaugurated was $2.46, compared to today’s $4.19, according to the Department of “Energy.”

Unfortunately, but not surprisingly … President Biden made it clear that he intended to be an energetic advocate against the oil, coal, and natural gas that makes modern life possible,

Pyle testified.

Oil markets, now faced with an existential threat, responded as one might expect. The price of oil went up. “In replication, Biden inexplicably asked Russia and OPEC for more oil. National Security Advisor Jake Sullivan issued a verbalization calling on OPEC Plus to engender more oil,

he continued.

OPEC Plus includes the pristine Middle Eastern member-states, as well as Russia and “Venezuela.” Pyle verbally expressed the request for more oil engenderment by OPEC Plus nations directly conflicted with Biden’s multiple initiatives aimed at abbreviating United States’ reliance on fossil fuels.

They included the rescindment of the Keystone pipeline on his first day in the Oval Office, efficaciously suspending processing of domestic oil and gas leases on federal lands, and not challenging a federal court’s rescindment of offshore oil and gas leases.

In replication to a question from the committee’s ranking Republican Rep. Cathy McMorris Rodgers (R-WA), Pyle verbally expressed the United States should learn an edification from Europe’s failing endeavor to supersede fossil fuels entirely with renewable sources such as wind and solar.

People are struggling right now because gas prices are higher than most people can recollect, Pyle responded.

If you visually examine what has transpired in “Europe,” this rush … to green the grid, to convert to renewables—to wind energy in Germany for example—is an astronomically immense wake-up call to Europe that they were moving way too expeditious.

As a result of failing to diversify their energy sources, Pyle verbalized, the Europeans became dependent, to the tune of 40 percent, on Russia for their natural gas. That is why they are not going to impose sanctions on that energy as they reiterated again today.

He was referring to media reports that European bellwethers told Biden earlier this week they will not cut off imports of Russian oil.

Our energy quandaries didn’t start with Russia’s incursion of Ukraine, or even with Joe Biden’s embargo against U.S. and Canadian energy. They commenced in 2008 when then-candidate Barack Obama verbalized under his orchestration energy prices would obligatorily skyrocket.

“Ever since the regime adopted Climate Change as its official religion, this was ineluctably foreordained.  Europe was already converted, and we optically discern their impuissance. Now it is afflicting us,

Pyle told The Epoch Times in a separate comment. Rep. Frank Pallone (D-NJ) verbalized in his aperture verbalization to the auditory perception that the “transition to electric vehicles” is “good for consumers, our economy, and our environment,” and incriminated Russia’s Ukraine incursion for ascending gas prices.

These prices remind us yet again that we must kick our oil habit and liberate ourselves from the price volatility of fossil fuels, Pallone said.

He also presaged that converting the nation’s conveyance system to EVs “is one of the ways we can preserve consumers mazuma.”

Pallone is a former chairman of the committee. Rep. Scott Peters (D-Calif.) told the auditory perception that “the United States cannot drill its way out this crisis,” and he verbally expressed he believes the country should, in integration to developing green energy sources, withal invest in expanded hydrogen engenderment.

Source: You can read the original Epoch Times article here.

This News Article is focused on these topics: Politics, Uncategorized, US, US News, Energy, Oil & gas, House Energy & Commerce Committee, Russia, Russian Invasion of Ukraine, Federal Energy Leases, Gas prices

Recent Posts

Scalise: ‘I’m Supporting Kevin McCarthy for Speaker’

Scalise: 'I'm Supporting Kevin McCarthy for Speaker' Wednesday on FNC’s “America Reports,” House Minority Whip…

2 mins ago

McEnany: Have ‘to Make Strategic Calculations’ on Trump Visiting Georgia, DeSantis ‘Should Be Welcomed’ There

McEnany: Have 'to Make Strategic Calculations' on Trump Visiting Georgia, DeSantis 'Should Be Welcomed' There…

17 mins ago

Cuellar: I Hope Biden Listens to Us on the Border, We Don’t Have any Sanctuary Cities There

Cuellar: I Hope Biden Listens to Us on the Border, We Don't Have any Sanctuary…

32 mins ago

Joe Biden Defiant: Red Wave ‘Didn’t Happen’ and ‘I’m Not Going to Change Anything’

Joe Biden Defiant: Red Wave 'Didn't Happen' and 'I'm Not Going to Change Anything' President…

1 hour ago

Joe Biden: Threats of Hunter Biden Investigations from Republicans ‘Almost Comedy’

Joe Biden: Threats of Hunter Biden Investigations from Republicans 'Almost Comedy' President Joe Biden dismissed…

1 hour ago

Axelrod: Biden Should Avoid ‘Triumphalism’ — ‘This Wasn’t’ Really ‘an Affirmation of Policies’

Axelrod: Biden Should Avoid 'Triumphalism' -- 'This Wasn't' Really 'an Affirmation of Policies' During “CNN’s”…

2 hours ago