The Biden administration is targeting the largest oil-producing area in the United States: the Permian basin, located in western Texas and southeastern New Mexico.
The Environmental Protection Agency (EPA) is considering labeling parts of the Permian Basin as violating the ozone standards set by the federal government.
“EPA is now considering a discretionary redesignation for (portions of) these counties in New Mexico and Texas for the 2015 ozone NAAQS under Clean Air Act section 107(d)(3) based on current monitoring data and other air quality factors,” the Biden administration <a class="editor-rtfLink" href="https://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202204&amp;RIN=2060-AV68" target="_blank" rel="noopener">wrote</a>.
If the EPA succeeds in its plan, new permitting requirements and scrutiny of drilling operations will ensue.
“The possible regulatory action adds yet another element of uncertainty to the oil industry, which is already facing an unknown future while being chastised for not investing more to produce more—whether that’s refining or drilling,” <a class="editor-rtfLink" href="https://oilprice.com/Latest-Energy-News/World-News/New-Regulations-In-Permian-Could-Deter-Drilling.html" target="_blank" rel="noopener">oilprice.com</a> explains.
“Creating uncertainty on permitting and inserting unnecessary regulatory barriers will only negatively impact the production necessary to meet the needs of consumers,” Todd Staples, president of the Texas Oil and Gas Association, informed <a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-06-24/world-s-biggest-oil-field-permian-basin-faces-new-air-pollution-curbs" target="_blank" rel="noopener">Bloomberg</a>.
In July, the Permian Basin will produce roughly 60% of the oil barrels per day from of the seven most prolific U.S. basins, according to the Energy Information Administration (EIA); 5.316 million BPD out of a total of 8.901 million.
In June, the Permian Basin is expected to generate 5.232 million BPD; the second most prolific area is expected to produce 1.152 million BPD.
In May, despite the record high price of gas in the U.S., the Biden administration announced it was canceling the sale of a massive oil and gas lease location in Alaska that was pending before the Department of the Interior (DOI). Biden’s DOI also canceled two leases under consideration in the Gulf of Mexico area.
At the end of March, the White House, while blaming Russian President Vladimir Putin for the rise in gas prices, <a class="editor-rtfLink" href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/31/fact-sheet-president-bidens-plan-to-respond-to-putins-price-hike-at-the-pump/" target="_blank" rel="noopener">bragged</a> that “The first part of the President’s plan is to immediately increase supply by doing everything we can to encourage domestic production now.”
Yet in May, the DOI killed the potential to drill for oil “in over 1 million acres in the Cook Inlet in Alaska,” informing <a class="editor-rtfLink" href="https://www.cbsnews.com/news/alaska-oil-and-gas-lease-sale-canceled-biden-administration/" target="_blank" rel="noopener">CBS News</a> that the cancellation stemmed from a “lack of industry interest in leasing in the area” for the decision to “not move forward.” The DOI killed the two leases under consideration in the Gulf of Mexico area because of “conflicting court rulings that impacted work on these proposed lease sales.”
“The Biden administration is poised to let the nationwide offshore drilling program expire next month without a new plan in place,” <a class="editor-rtfLink" href="https://www.washingtonpost.com/climate-environment/2022/05/11/gulf-of-mexico-leasing-canceled/" target="_blank" rel="noopener">The Washington Post</a> noted, adding, “Barring unexpected action, the current five-year offshore drilling program will lapse at the end of June. Interior cannot hold any new oil and gas lease sales until it has completed a replacement plan.”
American Petroleum Institute (API) senior vice president Frank Macchiarola called the Alaska cancellation “‘another example of the administration’s lack of commitment to oil and gas development in the U.S.,’” adding, “‘The President has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric.’”

Fracking Boom Turns Texas Into The earthquake Capital Of The U.S.

Biden Administration Targets Largest Oil-Producing Area In U.S.

Biden Administration

Oil and Gas

President <a href="http://dailywire.com/topic/biden-administration">Joe Biden</a> and other world leaders are pursuing a cap on Russian <a href="http://dailywire.com/topic/oil-and-gas">oil</a> prices.
Members of the <a href="http://dailywire.com/topic/g7">G7</a> are meeting in Austria to discuss the <a href="http://dailywire.com/topic/russia">Russian</a> invasion of <a href="http://dailywire.com/topic/ukraine">Ukraine</a>, as well as climate change and public health. In one background <a href="https://www.whitehouse.gov/briefing-room/press-briefings/2022/06/27/background-press-call-by-a-senior-administration-official-on-president-bidens-second-day-in-germany/">press call</a>, a senior Biden administration official announced that G7 leaders would “set a global price cap for Russian oil in shipments” to countries outside of the seven nations, which include Germany, Italy, the United Kingdom, France, Japan, Canada, and the United States.
“The goal here is to starve Russia — starve Putin of his main source of cash and force down the price of Russian oil to help blunt the impact of Putin’s war at the pump,” the official said. “The dual objectives of G7 leaders have been to take direct aim at Putin’s revenues, particularly through energy, but also to minimize the spillovers and the impact on the G7 economies and the rest of the world.”
Meanwhile, an Iranian official <a href="https://www.reuters.com/world/middle-east/qatar-host-indirect-talks-between-iran-us-reviving-2015-nuclear-deal-2022-06-27/">confirmed</a> that Qatar would host indirect talks between the United States and Iran on a revival of the Obama administration’s defunct <a href="https://www.dailywire.com/news/iran-escalates-enrichment-at-underground-nuclear-facility-now-has-enough-material-for-weapon-reports">nuclear</a> deal — a reality that could lead to the <a href="https://www.cfr.org/backgrounder/what-iran-nuclear-deal">lifting of oil sanctions</a> against the Islamic nation.
West Texas Intermediate and Brent crude oil prices rose slightly on Monday morning amid the news. The national average gas price in the United States is currently $4.90, according to <a href="https://gasprices.aaa.com/">AAA</a>.
Financial sanctions imposed against Russia have “significantly disrupted Russia’s ability to receive payments for exports, pay for imports and engage in cross-border financial transactions,” according to the <a href="https://www.imf.org/en/News/Articles/2022/03/05/pr2261-imf-staff-statement-on-the-economic-impact-of-war-in-ukraine">International Monetary Fund</a>. However, the sanctions also <a href="https://www.reuters.com/business/imf-warns-russia-sanctions-threaten-chip-away-dollar-dominance-ft-2022-03-31/">threaten the status of the dollar</a> as the global reserve currency.
Russian President Vladimir Putin has acknowledged the impact of the sanctions on his nation. “Our economy will need deep structural changes in these new realities, and I won’t hide this — they won’t be easy; they will lead to a temporary rise in inflation and unemployment,” Putin said in March, per <a href="https://www.wsj.com/articles/putin-acknowledges-impact-of-sanctions-on-russian-economy-11647462258?mod=article_inline">The Wall Street Journal</a>.
Earlier this month, President Biden <a href="https://www.dailywire.com/news/bidens-abuse-of-defense-production-act-will-drive-gas-prices-even-higher">invoked the Defense Production Act</a> — a federal law allowing the commander-in-chief to prioritize manufacturing certain goods in times of national crisis — to accelerate green energy production. Even as prices at the pump continue to rise, Energy Secretary <a href="http://dailywire.com/topic/jennifer-granholm">Jennifer Granholm</a> repeated her <a href="https://www.dailywire.com/news/energy-secretary-lays-out-the-only-way-to-avoid-high-gas-prices-and-its-not-producing-more-oil">argument</a> that the “only way out” of “boom-and-bust cycles” in energy prices is “deploying clean energy.”
“The real truth is that as long as our nation remains overly reliant on oil and fossil fuels, we will feel these price shocks again,” Granholm said last week. “This is not going to be the last time. The next time there’s a war, the next time there’s a pandemic or another hurricane, these extreme weather events we are experiencing — they will impact the access that we have to fossil fuels.”
The Biden administration also proposed a three-month suspension on the federal gas tax — a move that would <a href="https://www.dailywire.com/news/report-shows-how-much-bidens-gas-tax-suspension-would-save-the-typical-american">save</a> the typical American a paltry $4.79 to $14.31 over the course of three months. Sen. Joe Manchin (D-WV) — a key moderate — said last week that he <a href="https://www.dailywire.com/news/democratic-senator-not-a-yes-right-now-on-bidens-proposed-gas-tax-holiday">had not signed on to the idea</a> since the policy does not guarantee that the amount would “penny-for-penny come off of that price.”

G7 Leaders Convene For Summit At Schloss Elmau

Biden And Other World Leaders Want A ‘Global Price Cap’ On Russian Oil

World Leaders Weigh A Global Price Cap On Russian Oil

Russia

Ukraine

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 <a href="https://www.npr.org/2022/06/11/1104364665/gas-prices-5-high-inflation">breached $5 for the first time in history</a>.
President Biden is busying himself with non-solutions like a temporary gas tax break — something <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Frumble.com%2Fv19b73j-real-america-dan-ball-w-jason-isaac-biden-regime-making-way-for-the-green-n.html&amp;data=05%7C01%7Cjisaac%40texaspolicy.com%7C30684a4262ab4db5b6c408da54b10e3f%7Ca09e2cb6dde84dd8ae3df1e84f57dd50%7C0%7C0%7C637915416677719031%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=ZGqd6D4Esc1IpC8gdeFPoQeqpJLHZ4lse5fQNLWmQiQ%3D&amp;reserved=0">even former President Obama called a &#8220;gimmick&#8221;</a> — in an attempt to show some concern for the lower- and middle-class families he claimed to fight for on the campaign trail. But a bevy of mandates handed down from his administrative state indicate his real priorities lie elsewhere. President Biden’s <a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.whitehouse.gov%2Fbriefing-room%2Fstatements-releases%2F2022%2F06%2F06%2Ffact-sheet-president-biden-takes-bold-executive-action-to-spur-domestic-clean-energy-manufacturing%2F&amp;data=05%7C01%7Cjisaac%40texaspolicy.com%7C30684a4262ab4db5b6c408da54b10e3f%7Ca09e2cb6dde84dd8ae3df1e84f57dd50%7C0%7C0%7C637915416677719031%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=O7fh3YPqFgATUY1nxSpqNe15W8En3vFepbcG87H6NIM%3D&amp;reserved=0">bizarre abuse of the Defense Production Act</a> 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.
If only President Biden knew how simple it would be to solve $5 gas and restore economic prosperity to the nation.
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 <a href="https://www.cnbc.com/2022/05/11/two-thirds-of-americans-live-paycheck-to-paycheck-as-inflation-climbs.html">two-thirds of the nation living paycheck-to-paycheck</a> — 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. <a href="https://lifepowered.org/new-research-examines-last-decade-of-federal-energy-subsidies/">Decades of subsidies measuring in the hundreds of billions</a> 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.
The Trump administration’s pro-energy policies created real savings for families — and continued <a href="https://lifepowered.org/for-a-cleaner-earth-invest-in-dont-divest-from-fossil-fuels/">our track record of global environmental leadership</a> — but President Biden’s war on fossil fuels has already erased that progress. The average family is now paying nearly $3,000 more on gasoline per year than under the previous administration, on top of sky-high inflation causing higher prices for other essential goods.
And it’s not just that President Biden favors wind and solar over fossil fuels. His legion of bureaucrats are actively working to destroy the American energy industry by imposing draconian financial regulations. A new proposal from the SEC will <a href="https://www.thecentersquare.com/alabama/governors-pan-sec-climate-disclosure-proposal-as-unprecedented-federal-overreach/article_7bb8624c-e11b-11ec-8503-7be3b284c3da.html">impose massive compliance costs on energy producers</a> and force them to spend time and money on “greenwashing” instead of on harvesting and delivering the energy we need.
We need only look across the pond to the European Union to see how such a deliberate anti-energy agenda will work out for America. The EU is <a href="https://ec.europa.eu/info/news/focus-reducing-eus-dependence-imported-fossil-fuels-2022-kwi-20_en">now dependent</a> 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.
President Biden will continue to blame Russian President Vladimir Putin and oil companies, but he needs to man up and accept responsibility. He told us he was going to do this: “<a href="https://www.youtube.com/watch?v=Slszva6kk90">I guarantee you we’re going to end fossil fuel</a>,” he said. The president knew there would be pain inflicted by forcing the American people to give up the prosperity provided by oil, gas, and coal. In the last 150 years that humanity has had access to fossil fuels, <a href="https://lifepowered.org/daily-wire-the-debilitating-pessimism-of-climate-change-alarmists/">every measurement of quality of life has improved</a> as poverty has declined, health has improved, and our environment has gotten cleaner.
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. Fossil fuels and nuclear energy need to be embraced to improve the global environment, lift billions out of poverty, and promote economic prosperity in America and abroad.
The views expressed in this piece are the author&#8217;s own and do not necessarily represent those of The Daily Wire.
Jason Isaac is Director of Life:Powered, a national initiative of the Texas Public Policy Foundation to raise America’s energy IQ. Jason has appeared live on Fox Business Network and other national news shows, and his commentaries have been published in Fox Business, The Hill, The Washington Examiner, The Daily Caller, and other publications.

Joe Biden

Biden’s Abuse Of Defense Production Act Will Drive Gas Prices Even Higher

Energy

Gas Prices

Remember that <a href="https://www.dailywire.com/news/biden-admin-brags-about-saving-americans-16-cents-on-july-4-food-our-economic-plan-is-working">$0.16</a> <a href="http://dailywire.com/topic/joe-biden">Joe Biden</a> saved you last Fourth of July? In 2022, he is taking summer <a href="http://dailywire.com/topic/gas-prices">savings</a> to a whole new level — a bit less than $16, to be exact.
Earlier this week, President Biden called for a <a href="https://www.dailywire.com/news/biden-calls-for-three-month-pause-to-federal-gas-tax">three-month pause</a> to the federal gas <a href="http://dailywire.com/topic/taxes">tax</a> — which sits at slightly over $0.18 per gallon of <a href="http://dailywire.com/topic/oil-and-gas">gasoline</a> — because he “understands that high gas prices pose a significant challenge for working families,” according to the <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/22/fact-sheet-president-biden-calls-for-a-three-month-federal-gas-tax-holiday/">White House</a>.
Despite the publicity that has surrounded the move, a new report from the <a href="https://budgetmodel.wharton.upenn.edu/issues/2022/6/24/three-month-federal-gas-tax-holiday">University of Pennsylvania’s Wharton School</a> revealed that President Joe Biden’s proposal would save Americans a total of $4.79 to $14.31 from July to September.
Indeed, Penn Wharton Budget Model explained earlier this year that because the United States’ <a href="https://budgetmodel.wharton.upenn.edu/issues/2022/3/11/effects-of-a-federal-gas-tax-holiday">gasoline market</a> is “typically characterized by inelastic supply and inelastic demand in the short run,” there would not be a significant change in gasoline consumption spending. Savings would be most tangible in states like California, where the average cost of gas is the highest in the nation, while savings would be lowest in the Rocky Mountain and Gulf Coast regions.
The national average price of gasoline is $4.93 per gallon as of Friday, according to <a href="https://gasprices.aaa.com/">AAA</a>. In California, the average price is $6.35 per gallon; in Colorado and Louisiana, average prices are $4.91 and $4.47, respectively. Earlier this month, average costs surpassed <a href="https://www.dailywire.com/news/gas-prices-hit-grim-national-average-of-5-per-gallon">$5.00 per gallon</a>.
Inflation, however, cost the typical American household $3,500 in 2021, according to another Penn Wharton Budget Model <a href="https://budgetmodel.wharton.upenn.edu/issues/2021/12/15/consumption-under-inflation-costs">analysis</a>.
Sen. Joe Manchin (D-WV) said on Wednesday that he <a href="https://www.dailywire.com/news/democratic-senator-not-a-yes-right-now-on-bidens-proposed-gas-tax-holiday">would not vote for</a> the federal gas tax suspension since the policy does not guarantee that the amount would “penny-for-penny come off of that price.” Conservatives have mounted a similar argument.
“President Biden’s proposed temporary gas tax suspension is a band-aid solution to runaway gas prices,” Job Creators Network President Alfredo Ortiz said in a statement provided to The Daily Wire on Wednesday. “To truly show leadership and meaningfully reduce Americans’ pain at the pump, Biden must fundamentally reshape his party’s environmental policy, strongly backing the production and distribution of traditional energy. Only with vastly increased supply can gas prices significantly fall.”
Combined with state taxes, the typical American driver pays $0.571 in gas taxes per gallon, according to the <a href="https://www.api.org/oil-and-natural-gas/consumer-information/motor-fuel-taxes/gasoline-tax">American Petroleum Institute</a>.
On Sunday, Treasury Secretary <a href="http://dailywire.com/topic/janet-yellen">Janet Yellen</a> told ABC News host George Stephanopoulos that pausing the federal gas tax was <a href="https://www.dailywire.com/news/yellen-gives-opinion-on-pausing-federal-gas-tax-to-bring-prices-down">on the table</a> for President Biden. “Gas prices have risen a great deal, and it’s clearly burdening households,” Yellen said. “So he stands ready to work with Congress, and that’s an idea that’s certainly worth considering.”
Meanwhile, Energy Secretary <a href="http://dailywire.com/topic/jennifer-granholm">Jennifer Granholm</a> lauded the suspension as a way to provide families relief from “Putin’s Price Hike” — but also <a href="https://www.dailywire.com/news/energy-secretary-lays-out-the-only-way-to-avoid-high-gas-prices-and-its-not-producing-more-oil">argued</a> that the “only way out” of “boom-and-bust cycles” in energy prices is “deploying clean energy.”
“The real truth is that as long as our nation remains overly reliant on oil and fossil fuels, we will feel these price shocks again,” Granholm said. “This is not going to be the last time. The next time there’s a war, the next time there’s a pandemic or another hurricane, these extreme weather events we are experiencing — they will impact the access that we have to fossil fuels.”

President Biden Delivers Remarks On The Battleship Iowa In Los Angeles Harbor

Report Shows How Much Biden’s Gas Tax Suspension Would Save The Typical American

Biden's Gas Tax Suspension Would Save Americans Between $5 And $14

Gas Tax

President Joe Biden has <a href="https://www.dailywire.com/news/biden-slammed-for-remarks-on-enormously-high-gas-prices-theyre-saying-the-quiet-part-out-loud-now">claimed</a> that the <a href="https://www.dailywire.com/topic/united-states">United States</a> is in the middle of an &#8220;incredible transition&#8221; to green energy, but critics say that his administration is pushing the country too quickly toward that goal and driving up energy prices in the process.
On Thursday, <a href="https://www.dailywire.com/topic/fox-news">Fox News</a> reported that multiple current and former Federal Energy Regulatory Commission (FERC) officials warned that the Democrats are switching the American power grid off of <a href="https://www.dailywire.com/topic/fossil-fuels">fossil fuels</a> and exchanging reliability for green energy.
&#8220;When I was in FERC, I felt it was my foremost obligation, our responsibility for the oversight of the reliability of the grid,&#8221; former FERC Chairman Neil Chatterjee <a href="https://www.foxbusiness.com/politics/green-energy-policies-push-prices-higher-summer-ferc-commissioners-warn">told</a> the media outlet.
&#8220;I think that we have prioritized decarbonization over reliability and, sadly, it is going to take catastrophic events to recalibrate things and recenter our focus on reliability,&#8221; he added.
Chatterjee also predicted that Americans might experience energy outages across the country in the coming months, adding to their economic woes already caused by high gas prices.
&#8220;Americans are already suffering at the gas pump, and I&#8217;m very worried that the combination of extremely high prices and the possibility of blackouts and brownouts is really going to bring home the fact that we have taken our eyes off of reliability, that in our zeal to decarbonize, we&#8217;ve lost that critical focus,&#8221; he explained.
Current FERC commissioner Mark Christie also told Fox News that recent changes to the federal natural gas pipeline approval process, such as requiring an analysis of climate change and greenhouse gas on the application, will have disastrous effects on the market. The updates mean that it will take longer for pipelines to become active, he explained.
Christie said that these updates are &#8220;a huge barrier to developing needed pipeline capacity to take advantage of our domestic resources.&#8221;
&#8220;Increasing gas production and supply cannot be done overnight and it requires more than drilling, it requires increasing the capacity to transport gas,&#8221; Christie added. &#8220;That takes sufficient pipeline capacity. Pipelines are the only realistic way to transport gas supply in large quantities from American gas fields to consumers.&#8221;
On Tuesday, <a href="https://www.dailywire.com/news/washington-state-governor-warns-climate-change-will-bring-a-summer-of-blackouts-destruction-and-death">several energy industry leaders</a> also recently <a href="https://www.washingtonpost.com/business/2022/06/02/blackout-states-summer-heat/">told</a> The Washington Post that the rapid transition toward green energy could harm Americans in the short term.
“Everybody has a good sense of where we want to go in terms of decarbonizing the fleet,” Midcontinent Independent System Operator Chief Executive Officer John Bear recently told the press.“We are moving in that direction. Unfortunately, we are moving in that direction quite quickly and I am worried about the transition.”
An energy economist at the University of Houston, Ed Hirs, also emphasized that there has not been enough investment into green energy for America to fully take the plunge.
“We’ve let our infrastructure decay to the point where we have these failures,” Hirs <a href="https://www.washingtonpost.com/business/2022/06/02/blackout-states-summer-heat/">said</a>. “Somebody has to stand up and start doing something. We have not even addressed what will happen to the grid when every two-car family switches to one plug-in Ford F150 [pickup truck] and one plug-in passenger car. The grid can’t even handle what we have now.”
For its part, The White House has doubled down on the need to limit fossil fuels in the economy as quickly as possible.
Heather Boushey, a member of the White House&#8217;s Council of Economic Advisers, recently said that high gas prices are a &#8220;priority&#8221; for the president, &#8220;but none of that changes the fact that for our national economic security, for our national security, we have to be thinking about all the different ways we can transition to green energy.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
WH economic advisor Heather Boushey: Biden has been &quot;so clear&quot; that he cares about lowering gas prices, &quot;but none of that changes the fact&quot; we need to &quot;transition&quot; to green energy <a href="https://t.co/HJvPzTzH9z">pic.twitter.com/HJvPzTzH9z</a>
&mdash; RNC Research (@RNCResearch) <a href="https://twitter.com/RNCResearch/status/1539442323213492225?ref_src=twsrc%5Etfw">June 22, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Out of gas stock photo

Experts Warn Biden’s Rapid Green Energy Transition Is Happening Too Fast

Energy Experts Explain How President Biden's Transition To Green Energy Too Quickly Can Have Disastrous Consequences

Climate Change

Department of Energy

Fox News

MSNBC guest Roben Farzad launched into his own rendition of the Backstreet Boys hit &#8220;Quit Playing Games With My Heart&#8221; during a Wednesday afternoon segment with host Katy Tur.
Tur invited Farzad and Mike Memoli to respond after President Joe Biden made yet another appeal to the public on the still rising gas and oil prices. In his speech earlier in the day, he once again called on gas companies to increase production to ease <a href="https://dailywire.com/news/biden-mocks-oil-company-for-proposing-solutions-to-bring-down-gas-prices-as-american-families-suffer/">consumers&#8217; pain at the pump</a> — but he was careful to <a href="https://dailywire.com/news/biden-implies-americas-options-are-either-high-gas-prices-or-putin-controlling-europe/">lay the blame</a> for the high prices at the feet of Russian President Vladimir Putin.
Memoli focused on Biden&#8217;s comments about the gas companies, noting that the president has often criticized them for taking in profits while Americans struggle to fill their tanks. &#8220;You heard him talk about the oil companies who are making record profits at a time that Americans are increasingly concerned about record costs,&#8221; he said.
But when it was Farzad&#8217;s turn to weigh in, he burst into song.
WATCH:
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
MSNBC guest brings his boy band best to live segment on gas prices and the Biden administration&#39;s treatment of gas companies. <a href="https://t.co/EayXr1uHTO">pic.twitter.com/EayXr1uHTO</a>
&mdash; Virginia Kruta (@VAKruta) <a href="https://twitter.com/VAKruta/status/1539711445717368833?ref_src=twsrc%5Etfw">June 22, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;Did you see this back and forth between Biden and the CEO of Chevron, and kind of his emotions?&#8221; Farzad asked. &#8220;It was so touchy feely, and I could see, if the oil executives had, kind of more chill to them, they’d be like &#8216;quit playing games with my heart, with my heart.'&#8221;
&#8220;I mean, it’s hard. You want to plan, you want to build refineries, you shut things down. And Biden, in one breath, wants to tell you &#8216;you guys gotta be patriotic, you gotta do more.&#8217; In the other breath, he wants to decarbonize, and you can’t just say let’s just flip these things back online,&#8221; he explained. &#8220;You can’t just go and say let’s flood the market with all of these refined products. We have a refinery bottleneck right now. This takes years of visibility and years of guidance that the White House is pretty loath to give.&#8221;
Tur pushed back, despite being &#8220;thrown&#8221; by her guest&#8217;s singing, asking whether Americans would really feel bad for gas companies if they had to take a hit.
But Farzad is not the only one making that point — that the Biden administration can&#8217;t expect the gas companies to absorb the cost and risk while also promising to put an end to fossil fuels. CNN anchor <a href="https://dailywire.com/news/cnn-anchor-confronts-energy-secretary-on-bidens-oil-company-bait-and-switch/">John Berman</a> raised a similar question just few days earlier.
&#8220;These companies are saying, you know, &#8216;You’re asking me to do more now, invest more now, when in fact five or 10 years from now we don’t think that demand will be there, and the administration doesn’t even necessarily want it to be there,'&#8221; he told Energy Secretary Jennifer Granholm last week.

2019 iHeartRadio Music Festival And Daytime Stage

MSNBC Guest Busts Out His Boy Band Best During Live Segment On Gas Prices

MSNBC Guest Sings Backstreet Boys Hit During Live Segment On Gas Prices With Katy Tur

Katy Tur

Though <a href="http://dailywire.com/topic/inflation">inflation</a> is soaring in the United States, several key <a href="http://dailywire.com/topic/europe">European</a> <a href="http://dailywire.com/topic/economy">economies</a> are also witnessing record-high prices.
Inflation in the <a href="http://dailywire.com/topic/european-union">European Union</a> reached 8.1% as of May 2022, according to a data released last week by <a href="https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Inflation_in_the_euro_area#Euro_area_annual_inflation_rate_and_its_main_components">Eurostat</a>, with the price of energy alone increasing nearly 40% year-over-year. Meanwhile, in the United States, the Consumer Price Index (CPI) increased <a href="https://www.dailywire.com/news/inflation-reaches-8-6-setting-new-four-decade-high">8.6%</a> during the same time period, with <a href="https://www.dailywire.com/news/here-are-the-products-gutting-your-bank-account-as-inflation-soars">energy products</a> rising 35% in price.
Although both the United States and Europe began seeing higher inflation after COVID and the lockdown-induced recession, according to data from the <a href="https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG?locations=EU-US">World Bank</a>, the problem has since been exacerbated due to the <a href="http://dailywire.com/topic/russia">Russian</a> invasion of <a href="http://dailywire.com/topic/ukraine">Ukraine</a>.
Russia is the world’s third largest oil producer and the overall largest exporter of oil to global markets, according to the <a href="https://www.iea.org/reports/russian-supplies-to-global-energy-markets/oil-market-and-russian-supply-2">International Energy Agency</a>. Although oil continues to be exported from Baltic and Black Sea ports, trading houses are purchasing and storing the oil in Europe, where it could eventually be resold in avoidance of international sanctions, a March report from the <a href="https://www.dallasfed.org/research/economics/2022/0322">Federal Reserve Bank of Dallas</a> explained.
“The surge in global fuel, electricity, residential natural gas and food prices, as well as the supply-chain disruptions caused directly by the invasion of Ukraine and indirectly by the sanctions against Russia, will sustain inflationary pressures in 2022,” the Dallas analysts said. “If the bulk of Russian energy exports is off the market for the remainder of 2022, a global economic downturn seems unavoidable.”
In <a href="http://dailywire.com/topic/germany">Germany</a> — which <a href="https://www.bafa.de/SharedDocs/Kurzmeldungen/DE/Energie/Rohoel/2021_12_rohloelinfo.html">imported</a> over one-third of its oil from Russia in 2021 — producer prices <a href="https://www.destatis.de/DE/Presse/Pressemitteilungen/2022/06/PD22_252_61241.html">surged</a> at their highest clip since data collection began in 1949. In the <a href="http://dailywire.com/topic/united%20kingdom">United Kingdom</a> — where Russian oil <a href="https://www.gov.uk/government/news/uk-to-phase-out-russian-oil-imports">accounts for</a> 8% of demand — inflation edged up to 9.1%, according to the nation’s <a href="https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/may2022">Office for National Statistics</a>.
British Conservation Alliance head of research Connor Tomlinson told The Daily Wire that inflation in the United Kingdom is <a href="https://www.dailywire.com/news/europes-gas-prices-are-even-higher-than-americas">worsened</a> by a “catastrophic concoction of high tax government policies, supply-side procurement issues, and quantitative easing.”
Tomlinson noted that the nation has “price caps on energy — introduced by a supposedly free market Conservative government — which has produced an arms race between consumers already strapped for cash, suppliers who are producing at a net loss while the wholesale cost of gas rises, and a government bureaucratic engine which moves too slowly to adjust the cap in accordance with market activity.” Because the <a href="https://energysavingtrust.org.uk/what-is-the-energy-price-cap/">price caps were raised</a> in April, energy bills are expected to increase by £693, or $850, per household.
Meanwhile, the United Kingdom became a net energy importer in 2005 after abandoning natural gas production in the North Sea, according to Tomlinson. Sanctions placed on Russia have also limited the nation’s <a href="https://c3newsmag.com/rare-earth-minerals-outer-space/">access to metals</a> necessary for electric vehicle adoption, as well as the decarbonization of energy grids.
“We’re also seeing the return of Marxist unions holding the country to ransom, with national rail union strikes across the country canceling train and tube services everywhere, and tripling the prices of other means of transport as a result,” Tomlinson added. “Some of us are de facto locked down, working from home, because travel strikes and prices make work impossible in offices.”
Earlier this month, the World Bank <a href="https://www.dailywire.com/news/sharpest-slowdown-in-80-years-world-bank-releases-ominous-news-about-recession-risk">slashed</a> its 2022 global economic growth forecast from 4.1% to 2.9%, largely due to elevated price levels.
“Global inflation is expected to moderate next year but it will likely remain above inflation targets in many economies,” the international financial institution said. “If inflation remains elevated, a repeat of the resolution of the earlier stagflation episode could translate into a sharp global downturn along with financial crises in some emerging market and developing economies.”

EU flag

Europe Copes With High Inflation Amid Self-Destructive Energy Policies

European Inflation Rates Continue To Climb

Europe

Inflation

Supply Chain

United Kingdom

President <a href="http://dailywire.com/topic/biden-administration">Joe Biden</a> called for a three-month pause to the federal <a href="http://dailywire.com/topic/oil-and-gas">gas</a> <a href="http://dailywire.com/topic/taxes">tax</a> on Wednesday to contend with “Putin’s Price Hike.”
The federal government imposes a gas tax of $0.184 per gallon of gasoline and $0.244 per gallon of diesel, according to the U.S. <a href="https://www.eia.gov/tools/faqs/faq.php?id=10&amp;t=10">Energy Information Administration</a>. President Biden is asking for a suspension of the tax through September without interruptions to the $10 billion required to bankroll the Highway Trust Fund.
“President Biden understands that high gas prices pose a significant challenge for working families,” a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/22/fact-sheet-president-biden-calls-for-a-three-month-federal-gas-tax-holiday/">White House</a> statement said. “Today, he is calling on Congress and states to take additional legislative action to provide direct relief to American consumers who have been hit with Putin’s Price Hike.”
Combined with state taxes, the average American driver pays $0.571 in gas taxes per gallon, according to the <a href="https://www.api.org/oil-and-natural-gas/consumer-information/motor-fuel-taxes/gasoline-tax">American Petroleum Institute</a>. While New York and Connecticut temporarily paused their gas taxes in response to the soaring energy prices, Illinois and Colorado delayed scheduled tax and fee hikes, according to the White House statement.
On Sunday, Treasury Secretary <a href="http://dailywire.com/topic/janet-yellen">Janet Yellen</a> <a href="https://www.dailywire.com/news/yellen-gives-opinion-on-pausing-federal-gas-tax-to-bring-prices-down">told</a> ABC News host George Stephanopoulos that pausing the federal gas tax was on the table for the Biden administration. “Gas prices have risen a great deal, and it’s clearly burdening households. So he stands ready to work with Congress, and that’s an idea that’s certainly worth considering,” Yellen said of President Biden.
Gas prices are currently $4.96 per gallon, according to <a href="https://gasprices.aaa.com/">AAA</a>. Earlier this month, gas prices <a href="https://www.dailywire.com/news/gas-prices-hit-grim-national-average-of-5-per-gallon">hit</a> $5.00 per gallon, rising from the $2.39 per gallon witnessed when Biden took office.
Along with the proposed gas tax suspension, however, the White House clarified that “our efforts to increase energy production in the near-term must be coupled with medium- and long-term efforts to transition our economy away from fossil fuels produced by autocrats and to clean energy.” Likewise, Yellen said on Sunday that “the way in which we can ensure reasonable energy expenses for households is to move to renewables, to address climate change.”
In recent months, multiple White House officials — including Transportation Secretary <a href="https://www.dailywire.com/news/buttigieg-electric-cars-will-make-it-so-americans-never-have-to-worry-about-gas-prices-again">Pete Buttigieg</a>, Energy Secretary <a href="https://www.dailywire.com/news/bidens-energy-secretary-on-gas-crisis-if-you-drove-an-electric-car-this-would-not-be-affecting-you">Jennifer Granholm</a>, and President <a href="https://www.dailywire.com/news/white-house-slammed-over-comments-on-electric-cars-fairy-dust-and-unicorns">Joe Biden</a> himself — have even argued that high prices for nonrenewable energy will accelerate a transition to green energy, especially as more Americans buy electric cars.
Meanwhile, multiple Republican lawmakers have <a href="https://www.cruz.senate.gov/newsroom/press-releases/cruz-senators-demand-commerce-secretary-stop-permitting-delays-on-existing-oil-and-gas-leases-to-boost-production">criticized</a> Biden for a “de facto ban on new drilling” achieved by “sitting idle on over 9,000 drilling permits” and millions of acres of inactive leases. Likewise, the White House faced backlash last year for <a href="https://www.dailywire.com/news/peter-doocy-asks-for-a-straight-answer-on-keystone-gets-the-runaround-from-jen-psaki">revoking</a> a permit for the Keystone XL Pipeline. More recently, former White House Press Secretary Jen Psaki said that the Biden administration had “no plans” to reconsider opening pipeline construction.
President Biden recently <a href="https://www.dailywire.com/news/biden-sends-letter-to-oil-companies-blasting-them-for-profits-demanding-they-increase-oil-production">sent a letter</a> to oil companies asking them to increase production and slash their profits.
“There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing,” Biden wrote. “But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain.”

Screen Shot 2022-06-08 at 11.40.25 AM

Biden Calls For Three-Month Pause To Federal Gas Tax

Biden Calls For Federal Gas Tax Holiday

Economy

Taxes

President Joe Biden mocked the CEO of a major U.S. company Tuesday afternoon after the company proposed solutions to help lower gas prices as American families <a href="https://www.cnbc.com/2022/03/18/why-high-gas-prices-fall-harder-on-lower-earners.html">suffer</a> pain at the pump.
Biden&#8217;s remarks were aimed at Chevron CEO Michael Wirth, who said that his company&#8217;s mission was to &#8220;work every day to help provide the world with the energy it demands and to lift up the lives of billions of people who rely on these supplies.&#8221;
Wirth said that Chevron wants to assist the Biden administration in fighting soaring fuel costs, but that the administration &#8220;has largely sought to criticize, and at times vilify, our industry.&#8221;
&#8220;These actions are not beneficial to meeting the challenges we face and are not what the American people deserve,&#8221; he <a href="https://www.dailywire.com/news/chevron-ceo-rips-bidens-attempts-to-vilify-oil-industry-in-scathing-letter">wrote</a>. &#8220;We need clarity and consistency on policy matters ranging from leases and permits on federal lands, to the ability to permit and build critical infrastructure, to the proper role of regulation that considers both costs and benefits. Many of these elements are described in our industry’s recently released 10-point plan.&#8221;
Biden responded to Wirth&#8217;s remarks by mocking him, <a href="https://thehill.com/homenews/administration/3531724-biden-calls-chevon-ceo-mildly-sensitive-in-tangle-with-oil-executive/">saying</a> that “he’s mildly sensitive.”
“I didn’t know they’d get their feelings hurt that quickly. Look, we need more refining capacity. This idea that they don’t have oil to drill and to bring up is simply not true.”
Mike Sommers, President and CEO of the American Petroleum Institute (API), the only national trade association that represents all aspects of America’s oil and natural gas industry, released a 10-point plan last week to combat rising fuel costs.
“Your administration has restricted oil and natural gas development, canceled energy infrastructure projects, imposed regulatory uncertainty, and proposed new tax increases on American oil and gas producers competing globally,” Sommers said in a letter. “Respectfully, the American people need a different direction to solve this crisis.”
API’s <a href="https://www.dailywire.com/news/oil-experts-release-10-point-plan-for-biden-to-fix-energy-crisis-that-has-erupted-under-his-leadership">10-point plan</a> includes:
<ul>
<li>Lift Development Restrictions on Federal Lands and Waters</li>
</ul>
The Department of the Interior (DOI) should swiftly issue a 5-year program for the Outer Continental Shelf and hold mandated quarterly onshore lease sales with equitable terms. DOI should reinstate canceled sales and valid leases on federal lands and waters.
<ul>
<li>Designate Critical Energy Infrastructure Projects</li>
</ul>
Congress should authorize critical energy infrastructure projects to support the production, processing, and delivery of energy. These projects would be of such concern to the national interest that they would be entitled to undergo a streamlined review and permitting process not to exceed one year.
<ul>
<li>Fix the NEPA Permitting Process</li>
</ul>
Your administration should revise the National Environmental Policy Act (NEPA) process by establishing agency uniformity in reviews, limiting reviews to two years, and reducing bureaucratic burdens placed on project proponents in terms of size and scope of application submissions.
<ul>
<li>Accelerate LNG Exports and Approve Pending LNG Applications</li>
</ul>
Congress should amend the Natural Gas Act to streamline the Department of Energy (DOE) to a single approval process for all U.S. liquefied natural gas (LNG) projects. DOE should approve pending LNG applications to enable the U.S. to deliver reliable energy to our allies abroad.
<ul>
<li>Unlock Investment and Access to Capital</li>
</ul>
The Securities and Exchange Commission should reconsider its overly burdensome and ineffective climate disclosure proposal and your administration should ensure open capital markets where access is based upon individual company merit free from artificial constraints based on government-preferred investment allocations.
<ul>
<li>Dismantle Supply Chain Bottlenecks</li>
</ul>
You should rescind steel tariffs that remain on imports from U.S. allies as steel is a critical component of energy production, transportation, and refining. Your administration should accelerate efforts to relieve port congestion so that equipment necessary for energy development can be delivered and installed.
<ul>
<li>Advance Lower Carbon Energy Tax Provisions</li>
</ul>
Congress should expand and extend Section 45Q tax credits for carbon capture, utilization, and storage development and create a new tax credit for hydrogen produced from all sources.
<ul>
<li>Protect Competition in the Use of Refining Technologies</li>
</ul>
Your administration should ensure that future federal agency rulemakings continue to allow U.S. refineries to use the existing critical process technologies to produce the fuels needed for global energy markets.
<ul>
<li>End Permitting Obstruction on Natural Gas Projects</li>
</ul>
The Federal Energy Regulatory Commission should cease efforts to overstep its permitting authority under the Natural Gas Act and should adhere to traditional considerations of public needs as well as focus on direct impacts arising from the construction and operation of natural gas projects.
<ul>
<li>Advance the Energy Workforce of the Future</li>
</ul>
Congress and your administration should support the training and education of a diverse workforce through increased funding of work-based learning and advancement of STEM programs to nurture the skills necessary to construct and operate oil, natural gas, and other energy infrastructure.

US-POLITICS-BIDEN-AFL-CIO

Biden Mocks Oil Company For Proposing Solutions To Bring Down Gas Prices As American Families Suffer

Biden Mocks Oil Company For Proposing Solutions To Bring Down Gas Prices

A four-time World Drivers&#8217; Championship winner on the Formula One circuit — who drives cars that voraciously consume gas and oil as he jets from race to race — was slammed after he wore a T-shirt at the Canadian Grand Prix condemning Canadian oil sands mining.
34-year-old German racer Sébastien Vettel’s t-shirt read “Stop Mining Tar Sands” with a picture of a pipeline, and added “Canada’s Climate Crime.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Sébastien Vettel, F1 Driver being based and awesome for the Canadian Grand Prix. <a href="https://t.co/hJXb2MpmZC">pic.twitter.com/hJXb2MpmZC</a>
&mdash; Ian B (@CanadianCentury) <a href="https://twitter.com/CanadianCentury/status/1537472303369437184?ref_src=twsrc%5Etfw">June 16, 2022</a></blockquote>
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“Mr. Vettel is just a man who loves to ride around at astonishing speeds in multimillion-dollar machines, which chug those dear old fossil fuels by the whale-load, in front of thousands of people who drive to his venues just to watch him,” Rex Murphy wrote in <a href="https://nationalpost.com/opinion/rex-murphy-hypocrisy-your-name-is-sebastian-vettel">The National Post.</a> “And he has illustrious associations, being sponsored by Aston Martin, with financing from Saudi Aramco, the world’s largest oil producer.”
“But, and it is a very good ‘but,’ when he has reached his next Grand Prix destination and the time comes to go to the racetrack, he travels from the hotel by bicycle!” Murphy pointed out.
Vettel <a href="https://twitter.com/Tommy_Slick/status/1537885557719638016">said during a press conference</a>, “What happens in Alberta is a crime because you chop down a lot of trees and you basically destroy the place just to extract oil and the manner of doing it with the tar sands mining, oil sands mining is horrible for nature.”
The Canadian Energy Centre, an Alberta provincial corporation mandated to promote Alberta&#8217;s energy industry, fired back.
<blockquote>@F1 driver Sebastian Vettel showcased his ignorance about Alberta’s #oilsands industry ahead of this weekend’s Montreal Grand Prix, calling the development “criminal.” Let’s discuss the heaping hypocrisy and open Vettel’s eyes to Canada’s achievements here: Formula One racing, a sport that relies on fossil fuels for pure entertainment, has admitted to its carbon footprint and indicated steps to reach net zero, bravo. That doesn’t change that fact that its current carbon emissions amount to 256,000 tonnes CO2 per season.</blockquote>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Formula One racing, a sport that relies on fossil fuels for pure entertainment, has admitted to its carbon footprint and indicated steps to reach net zero, bravo. That doesn’t change that fact that its current carbon emissions amount to 256,000 tonnes CO2 per season.
&mdash; Canadian Energy Centre (@CDNEnergyCentre) <a href="https://twitter.com/CDNEnergyCentre/status/1537879194314711049?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote>
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“Canada’s largest oil sands producers are addressing climate change by working together on an ambitious, actionable plan to reduce GHG emissions from oil sands production with the ultimate goal of net zero emissions,” CDN continued, “Since 2000, CCS projects in Canada, some tied to the oil sands, have safely stored more than 44 million tonnes of CO2, or the equivalent of taking more than 9.4 million cars off the road.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Since 2000, CCS projects in Canada, some tied to the oil sands, have safely stored more than 44 million tonnes of CO2, or the equivalent of taking more than 9.4 million cars off the road. <a href="https://t.co/4GQmOYDl9X">https://t.co/4GQmOYDl9X</a>
&mdash; Canadian Energy Centre (@CDNEnergyCentre) <a href="https://twitter.com/CDNEnergyCentre/status/1537879198404059136?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“In terms of decreasing its carbon footprint, oil sands #emissionsintensity decreased 27% since 2013, compared to 13% for other global producers. Total oil sands emissions – not just emissions/bbl – are expected to start going down in the next five years.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
In terms of decreasing its carbon footprint, oil sands <a href="https://twitter.com/hashtag/emissionsintensity?src=hash&amp;ref_src=twsrc%5Etfw">#emissionsintensity</a> decreased 27% since 2013, compared to 13% for other global producers. Total oil sands emissions – not just emissions/bbl – are expected to start going down in the next five years. <a href="https://t.co/6gG99BblvW">https://t.co/6gG99BblvW</a>
&mdash; Canadian Energy Centre (@CDNEnergyCentre) <a href="https://twitter.com/CDNEnergyCentre/status/1537879208948420608?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“Canada’s oil sands sector is often characterized as having a massive physical footprint on the environment, but as of 2018, energy development encompassed less than 1% of Alberta. #oilsands mining companies alone doubled the land reclaimed since 2009, reaching over 8,000 hectares in 2019. Oil sands producers have also collectively planted more than 25 million trees.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<a href="https://twitter.com/hashtag/oilsands?src=hash&amp;ref_src=twsrc%5Etfw">#oilsands</a> mining companies alone doubled the land reclaimed since 2009, reaching over 8,000 hectares in 2019. Oil sands producers have also collectively planted more than 25 million trees. <a href="https://t.co/GVJuzDNrj1">https://t.co/GVJuzDNrj1</a>
&mdash; Canadian Energy Centre (@CDNEnergyCentre) <a href="https://twitter.com/CDNEnergyCentre/status/1537879213159550976?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote>
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“Canada’s industry’s strong environmental track record is thanks to large investments in technology &amp; environmental protection. Oil and gas producers are Canada’s largest spenders on energy cleantech, spending an average of $1B per year.”
“This is another instance of a celebrity with a net worth of $100M (who drives a sports car for a living) telling the 99% how foolish it is to rely on responsible sources of energy.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
This is another instance of a celebrity with a net worth of $100M (who drives a sports car for a living) telling the 99% how foolish it is to rely on responsible sources of energy. To learn more about Canada’s leadership in <a href="https://twitter.com/hashtag/oilandgas?src=hash&amp;ref_src=twsrc%5Etfw">#oilandgas</a> production, visit <a href="https://t.co/T4Mx0O1Fkl">https://t.co/T4Mx0O1Fkl</a>
&mdash; Canadian Energy Centre (@CDNEnergyCentre) <a href="https://twitter.com/CDNEnergyCentre/status/1537879218217811970?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote>
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&nbsp;

AUTO-PRIX-AUS-F1

‘Heaping Hypocrisy’: 4-Time World Champion Race Driver Slammed For Calling Canada’s Oil, Gas Mining A ‘Crime’

Sebastien Vettel slammed for wearing anti-Canadian oil drilling T-shirt, calling mining a "crime"

Alberta

Auto racing

Formula One

In the midst of high fuel costs and rising inflation, California is set to <a href="https://www.nationalreview.com/corner/california-decides-this-is-a-great-time-to-raise-the-state-gasoline-tax/">raise</a> the tax on gasoline at the end of the month.
A scheduled increase in the excise tax rate is <a href="https://calmatters.org/newsletters/whatmatters/2022/06/california-gas-tax-increase/">due for July</a>, which will add 3 cents per gallon to gas prices for California drivers.
The California state legislature could decide to delay the tax, or they could give Californians a rebate. Using the state’s budget surplus to hold off on the tax is up for debate, but some leading Democratic legislators aren’t going for that option.
“They think it&#8217;s possible that gas suppliers could eat up those savings and not pass them on to consumers. And also because they went through a very, very harrowing political battle when they passed this gas tax increase back in 2017,” Emily Hoeven, writer at CalMatters, said, per <a href="https://www.kcrw.com/news/shows/press-play-with-madeleine-brand/drivers-woman-ochre-watergate-film-reviews/ca-gas-tax-rebate-debit-cards-checks">KCRW</a>.
California Governor Gavin Newsom has pushed for a proposal to send $400 cards to California drivers to help with the costs, but the measure hasn’t gotten support in the Democrat-controlled state legislature. However, Hoeven noted that some legislators aren’t in favor of Newsom’s strategy and would rather give $200 checks to people based on income level.
“They say that leaves out the most vulnerable Californians, people who may not be able to afford a car and people that rely on public transit, and people that are feeling price hikes for groceries and other things in life,” Hoeven said.
The average price of gasoline in the county is currently $4.98, as of June 20, according to <a href="https://gasprices.aaa.com/">AAA</a>. In California, the average is almost $6.34.
Californians have been <a href="https://www.dailywire.com/news/california-gas-station-approaches-8-per-gallon">struggling</a> under high gas prices for some time, due in part to California’s excessive regulations placed on gas producers and importers.
As The Washington Post <a href="https://www.washingtonpost.com/business/2022/06/20/gas-prices-by-state-explained/">reported</a>, California’s Air Resource Board has specific rules for chemicals such as benzene, formaldehyde, and sulfur, which impacts how gas importers and producers can operate. Due to the red tape, California brings in a lot of gas from the Middle East, Patrick De Haan, GasBuddy’s head of petroleum analysis, <a href="https://www.washingtonpost.com/business/2022/06/20/gas-prices-by-state-explained/">said</a>, per the outlet.
The cost of diesel in the state is also <a href="https://www.nationalreview.com/corner/california-decides-this-is-a-great-time-to-raise-the-state-gasoline-tax/">putting</a> pressure on industries and consumers. The current average in California is $6.99, and diesel is already <a href="https://www.cdtfa.ca.gov/taxes-and-fees/sales-tax-rates-for-fuels.htm">taxed</a> at 13% in the Golden State. 
Over the weekend, gas costs went <a href="https://abc7.com/gas-prices-southern-california-los-angeles-county-orange/11977673/">down</a> minimally in areas around the state. In L.A. County, the cost of regular gas went down for the sixth time in the previous week, but it still was at $6.422 as of Sunday.

554B7B6C-DD55-4F32-8B5B-D4D3A33C5E3E_1_201_a

California Set For Scheduled Gas Tax Increase At End Of Month

California

Gavin Newsom

Treasury Secretary <a class="editor-rtfLink" href="http://dailywire.com/topic/janet-yellen" target="_blank" rel="noopener">Janet Yellen</a> said on Sunday that suspending <a class="editor-rtfLink" href="http://dailywire.com/topic/oil-and-gas" target="_blank" rel="noopener">gas</a> taxes is “certainly worth considering” amid rising <a class="editor-rtfLink" href="http://dailywire.com/topic/gas-prices" target="_blank" rel="noopener">energy prices</a>.
The comments came during an interview with <a class="editor-rtfLink" href="https://abcnews.go.com/Politics/week-transcript-19-22-secretary-janet-yellen-rep/story?id=85484967" target="_blank" rel="noopener">ABC News</a> host George Stephanopoulos. The national average gas price continues to hover near <a class="editor-rtfLink" href="https://www.dailywire.com/news/gas-prices-hit-grim-national-average-of-5-per-gallon" target="_blank" rel="noopener">$5.00 per gallon</a>, according to <a class="editor-rtfLink" href="https://gasprices.aaa.com/" target="_blank" rel="noopener">AAA</a>.
Stephanopoulos questioned Yellen on whether Congress could feasibly enact a federal gas tax holiday as a “short term” measure to ease pressure on consumers.
“Gas prices have risen a great deal, and it’s clearly burdening households. So he stands ready to work with Congress, and that’s an idea that’s certainly worth considering,” Yellen said of President Joe Biden.
The federal government currently imposes a gas tax of $0.184 per gallon of gasoline and $0.244 per gallon of diesel, according to the<a href="https://www.eia.gov/tools/faqs/faq.php?id=10&amp;t=10"> U.S. </a>Energy Information Administration. Combined with state taxes, the average American driver pays $0.571 in gas taxes per gallon, according to the <a class="editor-rtfLink" href="https://www.api.org/oil-and-natural-gas/consumer-information/motor-fuel-taxes/gasoline-tax" target="_blank" rel="noopener">American Petroleum Institute</a>, with Californians facing some of the highest tax burdens.
When pressed by Stephanopoulos on the Biden administration’s “shifting away from domestic oil and natural gas,” Yellen denied that the White House is to blame for rising fuel prices. She instead attributed the phenomenon to producers’ failure to anticipate higher demand for fuel after the recession.
Yellen also argued for a “medium term” need to emphasize green energy. “The way in which we can ensure reasonable energy expenses for households is to move to renewables, to address climate change,” she contended. “That’s a way to free us from geopolitical movements in oil prices.”
Multiple White House officials — including Transportation Secretary <a class="editor-rtfLink" href="https://www.dailywire.com/news/buttigieg-electric-cars-will-make-it-so-americans-never-have-to-worry-about-gas-prices-again" target="_blank" rel="noopener">Pete Buttigieg</a>, Energy Secretary <a class="editor-rtfLink" href="https://www.dailywire.com/news/bidens-energy-secretary-on-gas-crisis-if-you-drove-an-electric-car-this-would-not-be-affecting-you" target="_blank" rel="noopener">Jennifer Granholm</a>, and President <a class="editor-rtfLink" href="https://www.dailywire.com/news/white-house-slammed-over-comments-on-electric-cars-fairy-dust-and-unicorns" target="_blank" rel="noopener">Joe Biden</a> himself — have similarly argued that high gas prices will accelerate a transition to green energy, especially as more Americans buy electric cars.
“The people who stand to benefit most from owning an EV are often rural residents who have the longest distances to drive, they burn the most gas, and underserved urban residents in areas where there are higher gas prices and lower-income,” Buttigieg said last year. “They would gain the most by having that vehicle. These are the very residents who have not always been connected to electric vehicles that are viewed as kind of a luxury item.”
Governor Gavin Newsom (D-CA) <a class="editor-rtfLink" href="https://www.dailywire.com/news/even-as-prices-at-the-pump-remain-high-california-is-still-raising-its-gas-tax" target="_blank" rel="noopener">rejected</a> Republican lawmakers’ bid to suspend an upcoming increase in the state’s gas tax, alleging that the policy would help “petro-dictators and oil companies.” Instead, Newsom pursued a plan to distribute up to $800 in <a class="editor-rtfLink" href="https://www.dailywire.com/news/newsom-pushes-400-gas-price-relief-payments-as-california-fuel-prices-reach-record-levels" target="_blank" rel="noopener">tax rebates</a> per person, depending on the number of vehicles registered in an individual’s name.
The Biden administration is likewise considering a plan to send gas rebate cards to Americans. As one White House official told <a class="editor-rtfLink" href="https://www.foxbusiness.com/politics/white-house-considering-gas-rebate-cards-americans" target="_blank" rel="noopener">Fox Business</a>, Biden “has made clear that he is willing to explore all options and hear all ideas that would help lower gas prices for the American people,” although “no decisions have been made.”
Last week, Biden <a class="editor-rtfLink" href="https://www.dailywire.com/news/biden-sends-letter-to-oil-companies-blasting-them-for-profits-demanding-they-increase-oil-production" target="_blank" rel="noopener">sent a letter</a> to oil companies urging them to hike production and slash their profits amid rising gas prices.
“There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing,” Biden wrote. “But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain.”

Janet Yellen

Yellen Gives Opinion On Pausing Federal Gas Tax To Bring Prices Down

Yellen Says Suspending Federal Gas Tax Is On The Table

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