8 ways the Biden administration is working to increase gasoline prices

Originally published: June 14, 2024

The Biden administration claims that draining the Northeast Gasoline Supply Reserve shows its commitment to low gas prices.

In fact, this is yet another cynical ploy to disguise that its real goal is raise gas prices.¹

• Biden’s claim that he released 1 billion barrels of gasoline to “lower prices at the pump” is his latest attempt to convince Americans he's trying to lower gasoline prices. But in fact, he’s doing his utmost to raise prices, because this is necessary for his anti-fossil-fuel goals.

• 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 2050.²

• Biden's “net zero” plans require gasoline to be illegal or unaffordably expensive.

  Illustrating this, EPA set the “social cost of carbon” to $190/ton, which, if implemented as a carbon tax, would make gasoline ~$1.50/gal more expensive. And they plan to significantly increase it by 2050.³

• Given his “net zero” agenda, Biden’s claim to be for low gasoline prices is a vote-grabbing exercise.

  Biden wants the high gas prices that “net zero” requires—but if voters knew this they would rebel. Therefore Biden claims to be for both “net zero” and low gas prices.

• Biden wants to have his “net zero” cake and low gasoline prices too—but ultimately he has to choose one, and so far in his presidency he's chosen “net zero.”

  Here are 8 actions the Biden administration has taken to increase gasoline prices.

• 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.

• 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. Talking Points on the anti-energy, anti-development, and anti-America ESG movement

• 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.

  Climate Disclosure Fraud

• 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.

• 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.

• 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.⁴

• 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.

  Why government should leave oil and gas mergers alone

• 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.

• When Biden takes action after action to make sure gasoline prices increase for the sake of “net zero” and then loudly claims to be for low prices, he is lying. But the mainstream media won’t expose him because it too wants to be “net zero” but not seen to be for high gas prices.

• Politicians who are against oil and gas production, investment, and transport are necessarily for high gasoline prices—and they know it.

  E.g., when I debated Robert Kennedy Jr. in 2019, he admitted that under his energy plans “the gasoline price at the pump would go up to $12.50”!

• 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.

• Better yet, Biden should apologize and embrace energy freedom.⁵

Michelle Hung contributed to this piece.

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