Biden's Big Energy Lies Exposed

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Issues & Insights

President Joe Biden, sorely in need of an alibi as oil and gasoline prices soar and wreak havoc on the economy, now blames Russian President Vladimir Putin’s invasion of Ukraine for the spike in energy prices. In fact, surging oil and gas prices are the inevitable results of Biden’s own foolish green policies.

“Putin’s war is already hurting American families at the gas pump … I’m going to do everything I can to minimize Putin’s price hike here at home,” Biden told Americans Tuesday, as he imposed a ban on Russian oil.

Later, he doubled down on his claim. “Can’t do much right now. Russia’s responsible,” Biden said. “It’s simply not true that my administration or policies are holding back domestic energy production.”

 

Such lies would be laughable, if not for the disastrous impact that Biden’s inflation is having on working Americans and small businesses, still struggling to recover from the Democrats’ COVID lockdowns of the past two years.

Biden went even further, however, also blaming energy companies for the mess:

“To the oil and gas companies and to the finance firms that back them – we understand Putin’s war against the people of Ukraine is causing prices to rise. We get that. That’s self-evident. But it’s no excuse to exercise excessive price increases or padding profits or any kind of effort to exploit this situation or American consumers.”

That Biden and his public relations minions would even repeat such economic lies shows both political desperation and contempt for the American people.

To be sure, the Ukraine war has had a recent impact on energy, pushing per barrel oil prices for West Texas Intermediate crude from $92.81 on Feb. 24, the day Putin’s troops invaded Ukraine, to as high as high as $123.70 on Tuesday of this week.

But energy prices began rising virtually from Biden’s first day in office, more than a year before Putin invaded Ukraine, adding to already severe inflationary pressures in the economy. Today, oil prices are more than double the $53.13 per barrel that prevailed when Biden’s presidency began.

Meanwhile, prices for a gallon of regular unleaded gasoline today average $4.25, an all-time high, compared to just under $2.40 a gallon at the onset of the Biden administration.