Energy Report: Executive Out Of Order

Pump Jack, Oilfield, Oil, Fuel, Industry, Petroleum

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You're out of order! You're out of order! The executive order flurry is out of order. They're out of order. Oil prices are strong as OPEC compliance to cuts improves and President Biden breaks records issuing executive orders for an incoming President that included issuing executive order pink slips to the energy sector. Not only are a slew of workers losing their jobs on the Keystone Pipeline project, President Biden will soon find out it is a lot easier it kills jobs than it is to create them. Industry experts say that President Biden's plan will kill millions of jobs. Jobs that will have to replace by what up until this point has been green empty promises.

Energy Czar John Kerry says energy workers that lost their jobs should get one building solar panels. That might be difficult because solar plants are mainly in China. The U.S. Has only 23.

While that might not be viable then perhaps you can get a minimum wage job because Joe Biden just upped the wage to $15 an hour.

While we continue to hear green energy companies for years promise us millions of jobs the reality is that they never happened and is much as President Biden is spending on Green Energy. My guess is that he will fall way short of the jobs that he has promised. President Biden's programs will squeeze the middle class and poor and despite his increase in the Minimum Wage. U.S. hourly earnings will fall. High-paying jobs will be lost and some parts of the country that small businesses will not be able to pay a 15 hourly wage will close reducing job opportunities.

Oil prices are also getting a boost on reports that Saudi Arabia is making good on its promise to cut oil production, Word is that OPEC compliance is back over 103%. The Saudis have less fear of any criticism from their Biden Administration for rising oil prices. Why would President Biden Complain? He wants less oil. He wants nets higher oil prices. So do the Saudis. Saudi Arabia is getting ready to offer a new IPO on another part of its state-owned oil company.

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