Did Joe Biden 'Shut Down' American Energy? Hardly
President Joe Biden "shut down American energy," Rep. Steve Scalise hollered with great confidence. The Louisiana Republican was nominating Kevin McCarthy for House speaker when he appended some commentary unburdened by facts.
Scalise painted a sad, sad picture of American families "who can't even afford to put gas in their tanks." They can't "make it to the grocery store because we have such horrible energy policy," he said.
The evidence fails to support the melodrama. "National gas prices drop to 18-month low," Forbes reported on Dec. 20, "and could hit $3 By Christmas."
In Louisiana, a gallon of regular now averages $2.90. This reality may be spied in the prices hanging outside Baton Rouge gas stations. And if we're not mistaken, Biden is still president.
Scalise went on to warn of threats to our energy security. "There's absolutely no reason that we need to rely on foreign countries to produce our energy," he stated.
Scalise is right about that. We don't need to rely on others to produce energy. But guess what, we don't.
"Exxon, Chevron Focus on Oil Projects in the Americas," read a Wall Street Journal headline that very day. The growth of U.S. shale has eased Western oil companies' concerns about securing oil, according to the Center for Strategic and International Studies.
Exxon is now spending big to raise oil and gas production by 500,000 barrels a day by 2027. It is selling assets in Africa and the Middle East and plans to expand in the Permian Basin of New Mexico and West Texas -- and elsewhere in this hemisphere. The U.S. has just granted Chevron new license to again pump oil in Venezuela.
Measuring energy independence by exports-minus-imports, 2021 saw our highest level of energy independence in history. Biden was president, then, as well.
Is Biden set on moving us to new low-carbon technologies? He is, and Exxon and Chevron say they are planning to expand in that direction, too. We can assume they know the energy business.
Copyright 2023 Creators Syndicate, Inc.