The Washington Post’s editor and chief writer of “The Fact Checker” Glenn Kessler pushed misinformation about President Joe Biden’s responsibility for sky-high energy prices in the U.S. [bold, links added]
Kessler absurdly claimed in a March 15 article that there is “little evidence that Biden’s policies have had any direct impact on oil production.”
Is that so, Washington Post?
American Enterprise Institute resident scholar Benjamin Zycher pointed out that the administration’s war against fossil fuels contributed to reduced output, lifting prices.
“[A]n expectation that future investment will be constrained artificially has the effect of raising prices today. Why might the market expect such constraints on future investment? Look no further than the Biden administration’s policies for the answer. The ‘net-zero’ crusade against fossil fuels is an obvious attempt to force a sharp decline in current and future production,” Zycher noted. [Emphasis added.]
Zycher clearly illustrated the “direct impact” — as Kessler put it — of the Biden administration’s policies, completely upending Kessler’s argument.
“There are the various decisions to constrain or disallow investments in pipelines and other such infrastructure, both by the administration directly and by such ‘independent’ regulatory agencies as the Federal Energy Regulatory Commission,” Zycher wrote. [Emphasis added.]
Kessler acknowledged that the U.S. government can shape the market’s perceptions, which affects gas prices, but downplayed this point by claiming the effect is only “on the margins.”
He then undermined his point, acknowledging that Biden killed the Keystone XL pipeline on his first day in office, and waged war on fossil fuels by pushing for clean energy, “including a pledge to cut U.S. greenhouse gas emissions by at least 50 percent of 2005 levels by 2030.”
Kessler also questioned Biden’s labeling of rising gas prices as “Putin’s price hike,” and further undercut his point that Biden is not truly responsible for gas price hikes.
Kessler shifted blame again, citing former Treasury Secretary Lawrence Summers and former Obama Treasury official Steven Rattner for making a “credible case” that the $1.9 trillion coronavirus relief plan helped spark the current rise in gas prices.
Kessler “the fact checker” should know that attempting to shield Biden from the political fallout of skyrocketing energy prices under his watch is a lost cause.
Kessler and the team of fact-checkers at The Post apply “The Pinocchio test” when rating “the claims of a politician, political candidate, diplomat or interest group.”
By the paper’s own standards, Kessler’s analysis purporting to tell “The Truth about gas prices and oil production,” might receive an embarrassing “Three Pinocchios” for “[s]ignificant factual error and/or obvious contradictions.”
Read more at NewsBusters
How many Americans still read the Washington Compost anymore? it like the New York Slimes prints fake news then they wonder why no one trusts them anymore then they watch as as the Subcriptions for their daily liberal rag is declining
I think most informed observers in the oil industry would say that Biden Administration is PARTIALLY responsible for the current price spikes. This all started back in 2014 when oil prices “tanked.” It was further exacerbated by the pandemic and significant decrease in worldwide demand. “Soft” commodity prices has led to “under-investment” in the sector. THEN, you have the current Administration sending the WRONG signals to producers through executive fiat, regulatory policy & financial constraints and you have the “icing on the cake” to to create a supply shortage as demand increased coming out of the COVID lock downs. Fact of the matter is pretty simple. Fossil fuels currently provide 80% of our domestic primary energy and the 2022 EIA Energy Outlook predicts they will STILL have the “lions share” projected out to 2050. At the moment, there is no clean, sustainable, scalable or affordable alternative to REPLACE fossil fuels. I’d respectfully suggest rather than VILIFYING your energy producers you can START looking for constructive ways to formulate sensible energy policies (including resource conservation) & a coherent national energy strategy. The energy transition to whatever the “Next Big Thing” is will take DECADES to achieve. Let’s “pace” ourselves and get some adult conversation & informed debate underway. Any less is a terrible disservice to our country…