The Inflationary Black Gold Rush at the Gas Pump
The Inflationary Black Gold Rush at the Gas Pump by Trader Stef
President Biden and his cohorts have rammed through an unprecedented 52 executive orders and actions within the first three weeks of occupying the White House. U.S. “energy dominance” that was brought to fruition with pivotal policies and a reduction in regulation by the Trump administration is going poof as the new dictator and chief strokes his pen. The price of oil and gas at your local petrol pump is already rising and the cost of consumer products across the board will be impacted soon. Biden’s actions are wiping out well-paying jobs at a time when the country needs to keep the economic ship afloat.
In between naps, Biden has issued 52 executive orders and actions destroying law and order in two weeks… “Here we are, with Biden and his handlers (whoever they may be) engaging in a fundamental transformation of our country that Barack Hussein Obama couldn’t have imagined in his wildest dreams.” – Law Enforcement Today, Feb. 9
Fed Chair Powell, citing bleak jobs picture, says policy will need to stay ‘patiently accommodative’… “Powell said the headline unemployment rate has ‘dramatically understated’ the true damage, including the biggest 12-month drop in labor force participation since at last 1948… Powell noted that the actual unemployment rate is probably closer to 10%, and said the Fed needs to stay focused on its ‘broad and inclusive’ employment goal.” – CNBC, Feb. 10
I published “A Return of the Black Gold Rush” in Jan. 2018, where I covered the MAGA push for energy dominance in the U.S. Four of Biden’s executive orders will have devastating effects on a large portion of the oil and gas industry by eliminating important progress made over the last four years. Are you ready for a $93 trillion Green New Deal?
One of Biden’s proclamations include a construction permit revocation for the Keystone XL pipeline. Hardworking Americans aren’t the only ones incensed by such a careless decision, as Canada considers the move a “gut punch” for the U.S.-Canada trade relationship. The new Chair of the U.S. Senate Energy Committee has asked Biden to reconsider revoking the license for the Keystone XL pipeline because he understands that pipelines “continue to be the safest mode to transport our oil and natural gas resources, and they support thousands of high-paying, American union jobs.”