Joe Biden is at the G7 Summit. Soundbites of the world leaders mocking Russia were picked up. With the Supreme Court news about Roe v. Wade being overturned and gun rights expanded, the Left is in meltdown mode.
So, this devastating update probably got lost in the ether. Biden’s energy plan is toast. It got blown up. It shows Biden being outmaneuvered by our allies. [bold, links added]
The way it was done also shows that Europe knows this presidency needs to be pushed along—a lot. It was the clearest sign of the weakness exhibited by Biden. The gross incompetence is pervasive.
Within earshot of reporters, French President Emmanuel Macron told Biden that the United Arab Emirates is already at capacity with oil production and that Saudi Arabia cannot produce much more either.
Biden was counting on these two nations to bail him out. Now they can’t. As Michael Shellenberger noted on social media, this means the US has to up the ante on domestic oil production.
Biden was counting on Arab nations to produce more oil but a few hours ago French President Macron was overheard telling Biden that the United Arab Emirates is at max capacity & the Saudis can’t produce much more. It appears to be a direct appeal to Biden to produce more oil. pic.twitter.com/vRWJVpn3El
— Michael Shellenberger (@ShellenbergerMD) June 27, 2022
That means doing all the things the environmental Left hates. It means nixing any notion that the Green New Deal is a viable policy. It means infuriating Alexandria Ocasio-Cortez and her supporters.
It’s another blow for Biden who has touted that America is back. That its leadership is back, and that the adults are back in the room.
Since that declaration, this presidency has been an endless cycle of embarrassment and incompetence.
The vice president is a word-salad chef with approval ratings that are worse than Joe’s—and he’s in the mid-30s.
No one seems to have a plan on how to curb inflation, generate economic growth, create jobs, and get the baby formula back on the shelves.
The gas prices will now certainly soar close to $7/gallon by August. I’ll wager that given we have weak, stupid, and slow leadership from Mr. Magoo here.
There’s a reason why Joe Biden is a two-time presidential loser. There’s a reason why Obama really didn’t want Joe to run. He’s a screw-up. And his ability at failing is becoming a hallmark characteristic.
Read more at Townhall
I’d rather not “pile on” Biden. For anyone paying attention, the current (global) oil & gas supply shortage (really) started back in 2014. Continued underinvestment in the O & G sector, demand destruction (COVID), short sighted government policies and most recently financial constraints (ESG) have all built the “cake.” While the war in Ukraine was a nasty “plot twist,” the Biden Administrations policies over the past 18 months are just the “icing.” Mr. Macron is not telling anyone who understands the oil markets anything they don’t (already) know. The market understands the challenge. The REAL problem is that Biden has surrounded himself with advisors who demonstrate LITTLE knowledge of the energy sector or global commodity markets. Unfortunately, I have little confidence that he will “pivot” from his current (misguided) path. Let’s pace ourselves. We will be spending some non-quality time in the “Hurt Locker” for quite a while if we maintain this course….
Well said Randy. And as long as the Biden admin puts up roadblocks to O&G exploration and pipeline construction no sane company would put up the millions to develop a field or try to get a pipeline built. If there’s anything left of the country when the Dems are kicked to the curb let’s hope the next Republican admin does all they can to accelerate the development.
Ending all use of Fossil Fuels is totaly Irresponsible and based upon Junk Science and Politics
Randy is right in what he has said.
I want to acknowledge Michael Shellenberger especially is book “Apocalypse Never”. It is really good. Full of common sense as well as being educational.