Biden’s 'Plan' to Destroy the Oil Industry Resurfaces in 2020 Video – WATCH
'No more subsidies for the fossil fuel industry'
An unearthed video of Joe Biden has been circulating recently on social media showing his lack of knowledge regarding the forces of supply and demand.
In the March 2020 clip during the Democratic presidential primary debate between Biden and Sen. Bernie Sanders, Biden promises to drastically cut back domestic oil production.
He then promised to attack the fossil fuel industry through the removal of numerous subsidies and permits.
“No more subsidies for the fossil fuel industry," Biden said during the debate.
"No more drilling on federal lands."
"No more drilling, including offshore. No ability for the oil industry to continue to drill."
“Period. It ends," he stated.
Joe Biden in 2020: "No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends." pic.twitter.com/90MVJevPmv— Dan O'Donnell (@DanODonnellShow) March 8, 2022
With less fossil fuel production came higher gas prices, which is happening now.
On Thursday, the national average price for gas passed $5 a gallon, shattering previous record prices according to fuel savings company Gasbuddy.
“It’s been one kink after another this year, and worst of all, demand doesn’t seem to be responding to the surge in gas prices, meaning there is a high probability that prices could go even higher in the weeks ahead,” Gasbuddy lead petroleum analyst Patrick De Haan said.
There are many factors driving up gas prices that Biden as a candidate couldn’t account for — the Russia/Ukraine crisis and the impact of the COVID-19 pandemic.
But Biden’s efforts to tamp down domestic oil production have had a massive impact as well.
His administration’s willingness to print off incredible amounts of money is creating an inflationary crisis that hasn’t helped either.
Biden would be opening up the drilling floodgates if he truly wanted to correct things.
But, unfortunately, Biden cares more about appeasing climate change alarmists than saving the livelihoods of the American people.