Summer Talking Points: Gasoline Prices
Any politician who supports the "net zero" agenda is working to make gasoline prices much higher
This is Part 1 of a 4 part feature where I cover 4 of the top energy issues being discussed this summer, especially as politicians return home for August Recess.
Any politician who supports the “net zero” agenda is working to make gasoline prices much higher.
Every politician will claim this summer that they’re working to make gasoline prices lower, because they know that’s what voters want to hear.
But the many politicians that support “net zero by 2050” are working to make gasoline prices higher.For the US to become anywhere near “net zero by 2050,” gasoline use needs to be virtually eliminated.1
Since Americans left to their own free will choose to use a lot of gasoline, the only way for “net zero” politicians to eliminate gasoline is to make it unaffordable or illegal.
Low gasoline prices are totally incompatible with “net zero.”The Biden-Harris administration knows that all fossil fuels, including gasoline, need to be far more expensive for them to pursue “net zero.” That’s why the EPA set a rising “social cost of carbon” starting at $190/ton—the equivalent of adding $1.50 a gallon to gasoline prices!2
From Day 1, President Biden has openly supported the destruction of the fossil fuel industry, from his 2019 campaign promise of “I guarantee you, we’re going to end fossil fuel” to his 2021 executive order declaring that America will be “net zero emissions economy-wide” by 2050.3
Kamala Harris has, unfortunately, been even more supportive of the “net zero” agenda and therefore higher gasoline prices. In 2020 she supported a fracking ban, which would have destroyed 60% of US oil production. And she cosponsored the fossil fuel-destroying Green New Deal.4
Of course, Joe Biden and Kamala Harris, like all politicians, claim to be for lower gasoline prices. But because their real priority is the “net zero” agenda, in practice they are doing everything they can to raise prices.
Here are 8 specific actions they’ve taken.
Biden Gas Gouging Policy #1
Biden has worked to increase gasoline prices by taking a “whole-of-government” approach to reducing greenhouse gas emissions. This entails reducing oil investment, production, refining, and transport, all of which serves to increase gas prices.5
Biden Gas Gouging Policy #2
Biden has worked to increase gasoline prices by expanding the anti-fossil-fuel ESG divestment movement. ESG contributed to a 50% decline in oil and gas exploration investments from 2011-2021, resulting in artificially higher prices. Biden is making it worse.Biden Gas Gouging Policy #3
Biden has worked to increase gasoline prices via “climate disclosure rules,” an oil and gas investment-slashing measure that coerces companies into spouting anti-fossil-fuel propaganda and committing to anti-fossil-fuel plans—plans that will raise gas prices.
Biden Gas Gouging Policy #4
Biden has worked to increase gasoline prices by issuing a moratorium on oil and gas leases on federal lands, stunting oil and gas production and investment. When it’s harder to produce and invest in oil, gasoline gets more expensive.6
Biden Gas Gouging Policy #5
Biden has worked to increase gasoline prices by hiking the royalty rate for new oil leases by 50%. This is money the government gets from the industry on top of taxes. And it discourages oil investments, meaning less production meaning higher gas prices.7
Biden Gas Gouging Policy #6
Biden has worked to increase gasoline prices by restricting oil and gas leasing on nearly 50% of Alaska's vast petroleum reserve. This is a crippling blow to Alaska's oil and gas industry. Less Alaskan oil means higher gas prices.8
Biden Gas Gouging Policy #7
Biden has worked to increase gasoline prices by threatening to stop oil and gas mergers. Mergers, which increase efficiency, benefit domestic production and lower prices. Blocking mergers raises oil prices long-term, which means higher gas prices.Biden Gas Gouging Policy #8
Biden has worked to increase gasoline prices by cancelling the Keystone XL pipeline. This prevented Canada from using its vast oil deposits to their full potential—meaning lower global supply and higher prices for oil and gasoline.9
Joe Biden should level with the American people and make clear that his agenda is to increase gasoline prices—much like Obama’s infamous admission that “electricity rates would necessarily skyrocket” under his energy plan.
Or he should apologize and embrace energy freedom.10
Popular links
EnergyTalkingPoints.com: Hundreds of concise, powerful, well-referenced talking points on energy, environmental, and climate issues.
My new book Fossil Future: Why Global Human Flourishing Requires More Oil, Coal, and Natural Gas—Not Less.
“Energy Talking Points by Alex Epstein” is my free Substack newsletter designed to give as many people as possible access to concise, powerful, well-referenced talking points on the latest energy, environmental, and climate issues from a pro-human, pro-energy perspective.
Institute for Energy Research - EPA Ups Estimates for the Social Cost of Carbon
A gallon of gasoline emits about 0.0081 metric tonnes of CO2.
U.S. EIA - Carbon Dioxide Emissions Coefficients