For God's Sake Enough
Biden does not control gas prices.
No
Like the guy on the credit card company commercial I want to say, in as friendly a way as possible: “You’re getting it wrong.”
You can let the Biden administration have it. That’s American democracy. Criticism, particular logically expressed and well evidenced, is what we do. But saying that Biden’ policies are causing high gas prices is just not true.
Oil prices are set internationally by supply and demand. American based companies extract oil and the refine it and they sell it for the highest price they can get. Are you asking our government to force American companies to sell their products at a lower cost than they get in the global market? Perhaps government has that power in a national emergency, but it sure wouldn’t encourage the companies to make long term investments to increase production. And I don’t think you and I would support such a government policy.
When I taught American government it was clear that the President’s powers were limited under our Constitution. This really hasn’t changed. Compared to chief executives in other countries, it still is. Even Trump didn’t do half as much as both his enemies and friends claim.
That is not to say, though, that the Biden Administration has been powerless. They have taken actions that have had consequences. We may support some and criticize others. But Biden is not the czar of Gas. Prices at the pump are high in most other societies, wherever the free market determines price through the mechanisms of supply and demand. A little extra profit taking. Sure, to the extent that oil production is in the hands of semi-monopoly companies.
Cooperation between government and the oil industry can lead to long term growth of supply. Investments now, in drilling and the support structures necessary for extraction and increased refining capacity, will increase supply in the years ahead. I doubt, though, that the industry is as willing as government to encourage this expansion. Demand for fossil fuels is expected to decline in the long run, as the cost of alternative energy sources continues to sharply decline, while in the moderate run limiting the strong (bullying?) role of oil and gas in international affairs, it is a reasonable goal for government.
Nevertheless, this has nothing to do with tomorrow, or next week or next month.
There is no spigot that to turn on.
What about the “pipeline?” “He cancelled the pipeline.” A pipeline doesn’t produce any oil. It moves it from A to B. This may have a marginal effect on price, but very little. Oil moves into the global market from either A or B. Refinery capacity and costs notwithstanding.
I am not saying that we should all jump on the bandwagon and applaud Biden as some of us have applauded Trump. As long as we admit to ourselves that we are not all-seeing and all knowing, there are valid criticisms to be made. Things are moving pretty fast. NO ONE is keeping up with everything. We all have to readjust our thinking and take into account new information.
No disrespect, then, to anyone. Let’s hear all views. Let’s treat critical appraisals with respect. But, please move on from gas prices.