If anyone is still wondering why we are paying 61% more for gasoline than we did a year ago, the answer is obvious: President Joe Biden and his administration.
Of course, some will be quick to point out oil prices are dependent on supply and demand.
It was Biden who put a severe dent in the supply.
Within a matter of hours of becoming president, Biden signed executive orders halting the Keystone Pipeline project and halting new oil and gas leases on federal lands, a ban that was later overturned as federal overreach.
Biden has blamed the high fuel prices on oil companies taking excessive profits and has begged Middle East countries to release more oil.
Just two weeks ago, Biden, in a symbolic, political move, announced he was going to release 50 million barrels over two years from the Strategic Petroleum Reserve to lower prices.
The Keystone Pipeline was projected to bring 500,000 barrels per day for 20 years from Canada to the U.S.
Not only is the nation paying higher prices at the pump, but the Biden administration’s energy policies are devastating to Wyoming’s state revenues.
Biden didn’t give up on his pledge during this campaign to ban new oil and gas permitting on federal lands.
When his executive order was overturned, he didn’t give up.
The administration is now delaying leases.
In Park County, seven of the eight parcels originally proposed for lease are now recommended for deferral.
While the state is projecting an increase in revenue for the next budget because of higher prices, state revenues from all leases and rents dropped from $91.8 million in 2019 to less than $1 million in the first six months since the moratorium.
Park County residents are not only paying greatly increased prices for fuel, but Wyoming’s revenues for education and other necessary expenditures have taken a huge hit.
And there is absolutely no question who is to blame, it’s Biden.