One issue more than any other will dominate airtime and influence policy in 2022: energy. Americans are seeing the highest prices at the pump in seven years. Since Biden took office, average gas prices are up by more than $1 a gallon. In November, gas prices in Mono County, California hit more than $6 per gallon, forcing some residents to drive to Nevada (where gas taxes are lower) to buy fuel.
While most Americans have never heard of it, the Interior Department’s five-year plan for offshore energy development is essential to maintaining our basic standard of living and keeping the prices for thousands of everyday goods and services low. At a time of record inflation and sky-high energy costs, it is critical that the Biden Administration show its energy and environmental leadership by moving forward with this offshore energy plan.
Many of us in the Western world are spending the most ever on electricity bills, forced to eat fake meat, and paying a lot more in taxes for green initiatives. At the same time, China ignores the green revolution by ramping up record coal production in December.
Fifteen state financial officers sent a letter to U.S. banks last week noting $600 billion in assets they pledge to take elsewhere if the financial institutions embrace corporate wokeism and prohibit financing to the fossil fuel industry.
Is President Biden doing anything right?
The Biden administration is actively debating whether to immediately intervene to lower US energy prices, rather than letting markets ride and hope they settle, as the 'most popular president in history' grapples with soaring inflation amid trade and foreign policy matters, according to Bloomberg.
Exxon Mobil Corp.’s remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape, according to people familiar with the matter.
This year’s global demand for all three fossil fuels has sent a message to overly enthusiastic proponents of the energy transition - hold your horses.
