The price of oil surged to $75 a barrel the other day under President Joe Biden’s green energy policies. The price was as low as $35 a barrel under former President Donald Trump because he believed in American energy dominance (“Drill, baby, drill”). So, more oil meant lower prices at the pump. It was effectively a massive, multibillion-dollar tax cut for lower- and middle-income earners of tens of billions of dollars a year.
Here’s the worst part of the story. None of this tomfoolery is doing any good for the environment. Even Biden’s own Energy secretary, Jennifer Granholm, has complained that in some ways, the Biden policies are making carbon emissions worse by approving pipelines of dirty energy from Russia to Germany while killing pipelines from relatively cleaner oil and gas here in the United States.