(ORDO NEWS) — Biden decided to practically stop the leasing of sites for oil and gas production, writes the New York Post. By doing so, he risks bringing on the US the same energy nightmare that Europe is experiencing due to the fact that its leaders have put climate policy at the forefront.
Europe is preparing for energy shortages and a harsh winter due to the fact that Russia has stopped supplies via the Nord Stream pipeline. Meanwhile, new analysis shows that President Biden is pushing America to the same fate with his decision to essentially suspend oil and gas leases.
Although on August 20, Biden issued permission to lease 126,228 acres of land for drilling, this is only crumbs compared to how much land was rented out by all US presidents, starting with Harry Truman, for the first 19 months of work. No president since Richard Nixon has leased out less than 4.4 million acres—that’s 35 times more than Biden’s. Ronald Reagan alone issued 47.6 million acres of drilling licenses, 378 times more than Biden’s. Even Barack Obama leased 58 times more acres than Biden.
Biden is trying to fulfill his campaign promise to end the use of fossil fuels in an attempt to slow down the process of climate warming: “No more drilling on federal lands … The oil industry will no longer be able to produce, period.” One of Biden’s first orders after taking office was an indefinite ban on new contracts for drilling sites.
No, the lack of new leases has not been the main reason for the recent surge in gas and other energy prices, as it usually takes several years after a contract is signed before oil or gas production begins on the site. However, industry leaders are warning of shortages and price hikes in the future.
In this matter, it makes sense to pay attention to the situation in Europe. EU leaders have also made the fight against climate change a priority and have decided to show their goodness by banning hydraulic fracturing and shutting down gas, coal and even nuclear power plants. However, they did not provide any alternatives and commensurate restriction of demand. As a result, the continent has become dangerously dependent on oil and gas supplied from Russia.
Now Europe is paying the price: from August 2019 to July of this year, natural gas prices in the region soared by 1,500%. After Moscow announced the suspension of Nord Stream pumping (in punishment for the sanctions that the European Union imposed on Russia in connection with the conflict in Ukraine), oil and gas prices jumped by 30% on Monday alone, although by the end of the day they growth was “only” 10%.
The current situation is forcing European leaders to contemplate drastic measures that could help avert catastrophe in the winter, but shortages and price spikes plunge Europe’s economy into turmoil. It is not limited to the closure of industrial enterprises: the euro recently hit its lowest level in the last 20 years, markets have fallen, and traders are predicting a recession.
The situation is quite tragic, and at the same time, the elimination of fossil fuels would have little effect on global warming, even if the Europeans did reduce their consumption, because greenhouse gas emissions in countries such as China and India continue to increase.
This fight against warming was not worth the sacrifices and costs that fell on the shoulders of the Europeans, because in fact, climate change is not at all the catastrophe that can lead to the end of the world, which the left is trying to present it.
Alas, Biden is following the same path as Europe, banning new drilling leases, blocking infrastructure projects like the Keystone pipeline, and launching a massive war against the fossil fuel industry as a whole. Thus, Biden is leading the United States into the same kind of energy nightmare that Europe is currently suffering from.
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