Jason Isaac, RealClearPolicy
Gas prices have driven many a voter to the polls in our nation’s history, but Americans are feeling pain at the pump now more than ever as the average national gas price breached $5 for the first time in history.
President Biden is busying himself with non-solutions like a temporary gas tax break — something even former President Obama called a “gimmick” — in an attempt to show some concern for the lower- and middle-class families he claimed to fight for on the campaign trail. His real priorities may lie in a series of mandates he has been given by his administrative body.
President Biden’s bizarre abuse of the Defense Production Act for inexpensive and unreliable renewable energy — and his continued injection of climate politics into financial regulations — suggest the president’s leftist agenda takes precedent over our well-being.
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Only President Biden would have known how easy it was to fix $5 gas and bring economic prosperity back to this country.
Biden’s exploitation of the Defense Production Act to prop up the renewable energy industry may be his most out-of-touch move yet. With two-thirds of the nation living paycheck-to-paycheck — not to mention serious crises like the baby formula shortage still ongoing — Biden is giving special treatment to energy sources that have never yet proven to be worth the taxpayers’ hard-earned dollars.
Decades of subsidies measuring in the hundreds of billions haven’t made renewable energy more reliable or affordable, despite its advocates’ bold claims. The Defense Production Act won’t either; it will just drive energy prices even higher.
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The Trump administration’s pro-energy policies created real savings for families — and continued our track record of global environmental leadership — but President Biden’s war on fossil fuels has already erased that progress. A family of four is paying almost $3,000 more per year for gasoline now than they did during the last administration. This comes on top a skyrocketing inflation that has caused higher prices to other necessities.
And it’s not just that President Biden favors wind and solar over fossil fuels. The SEC’s bureaucrats that he has appointed are working hard to ruin America’s energy sector by creating draconian financial regulations. A new proposal from the SEC will impose massive compliance costs on energy producers and force them to spend time and money on “greenwashing” instead of on harvesting and delivering the energy we need.
You only have to glance across the pond at the European Union in order to understand how this anti-energy agenda for America will turn out. The EU is now dependent on Russia for 40% of its natural gas, 27% of its oil, and 46% of its coal — and electricity prices are skyrocketing. America can and should be a world superpower in energy, but President Biden’s policies have already made us energy dependent once again.
Although President Biden will still blame Russian President Vladimir Putin (and oil companies), he should be able to accept his responsibility. He told us he was going to do this: “I guarantee you we’re going to end fossil fuel,” he said. He knew that there would be suffering if the American people had to stop enjoying the benefits of oil, gas and coal.
In the last 150 years that humanity has had access to fossil fuels, every measurement of quality of life has improved as poverty has declined, health has improved, and our environment has gotten cleaner.
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It’s an injustice that President Biden is forcing poverty onto the American people to appease ruling-class elites who prioritize climate catastrophism over improving human lives. Both fossil fuels and nuclear energy should be promoted to help improve the environment worldwide, alleviate billions from poverty, and encourage economic prosperity both in America and around the globe.
Real Clear Wire permission granted permission for this syndicated article.
Jason Isaac is Director of Life:Powered, a national initiative of the Texas Public Policy Foundation to raise America’s energy IQ. Jason appeared on Fox Business Network as well other news networks, while his comments were published in Fox Business Magazine, Fox Business, The Hill and The Washington Examiner.
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