Fossil Fuel Follies

Christy Goldfuss, an energy and environment policy expert at the liberal Center for American Progress in Washington said it best in an interview with Reuters. She said that a major part of the Biden administration’s climate strategy is to avoid building new long-lasting oil and gas projects such as the Keystone XL pipeline. “The more we invest in fossil fuel infrastructure, the harder it is to transition to the investments we need to make for clean energy,” said Goldfuss. So clearly what she is saying is that the Biden administration plan is to transition off fossil fuels and make them prohibitively expensive, forcing us to change our ways. That policy means that the US had better brace for a new era of higher energy prices.

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

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The U.S. energy policy under the Biden administration is to surrender our energy independence and instead put our energy future into a global body as part of the Paris climate accord. That will bring down a huge burden on the US as we will be expected to subsidize countries like China that will be able to continue to pollute at the expense of the US taxpayer. Paris is looking to the US to foot most of the bill to move the globe to a carbon-free future. Biden says he wants to lead and by leading that means having the US taxpayer pick up the tab for other countries' carbon waste. The world wants us to pay their fair share.

Of course, the cause of higher energy costs that we are sowing the seeds of will become the Biden recession. It will be only a matter of time before these policies get in place and will drag growth and cost the U.S. jobs. And I am not just talking about jobs in the energy sector but jobs across the spectrum that will be forced to not hire U.S. workers because of higher energy costs. In the meantime, the Biden administration hopes to replace those jobs by spending trillions of dollars of taxpayer money on green projects. That is unlike the investment in Keystone that was being built with private sector money. The problem is that what we found under the Obama administration is that the government did a horrible and inefficient job in spending money on green energy projects and other projects as well. Do you remember Solyndra? Do you remember "shovel ready projects”?

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