Here we go again.
Just like when gas prices spiked during a supply crunch earlier this year, the Biden Administration is back begging foreign regimes to please keep the oil flowing.
Ahead of a recent OPEC production meeting, the New York Times described “an intense last-minute lobbying effort” by U.S. officials aiming to convince the group of foreign oil-producing nations to maintain their production levels.
All the while, Governor Newsom continues to do everything he can to shut down production in one of America’s most oil-rich states.
Evidently Sacramento isn’t on the Biden Administration’s call list.
As a result, the baffling split screen of U.S. energy policy continues. Why does the President keep begging OPEC for oil California could produce? If we know more production is needed to ease prices and balance supply and demand, where’s the “intense lobbying effort” to maintain U.S. production?
Does the Biden Administration realize there are companies eager to produce more oil in California – under the world’s strongest environmental regulations, no less?
“This Administration wants more oil anywhere except in America … Amid a war in Europe, a global energy crisis, and a risk of a global recession, a serious U.S. Administration would do everything in its power to encourage more domestic energy production. This Administration would rather make America more dependent on dictators.”
California oil production has fallen 22% since Newsom took office in 2019. The choice to allow that trendline to continue downward – even in the face of repeated global supply challenges – cedes U.S. energy security to foreign producers.
In response to OPEC’s ultimate decision to cut production, Biden announced yet another release from the U.S. Strategic Petroleum Reserve. In sum, Biden has authorized 180 million barrels to be released, draining the nation’s emergency stockpile to its lowest level in nearly 40 years.
Biden and Newsom could take responsibility for their energy policies and gain more control over oil markets. But doing so would require them to recognize our energy realities and stop playing politics.
Demonizing oil companies through angry Twitter videos won’t help solve our ongoing energy supply challenges or ease gas prices. More domestic oil production will.