To the Editor:
Every time President Biden does a press conference, he stretches the truth and blatantly lies. Twice now he has blamed the increase in inflation and prices of fossil fuel directly due to Russia’s involvement in the Ukraine.
The U.S. Energy Information Administration shows a different explanation of the cost increases. They give detailed information on crude oil production, natural gas, and coal and nuclear. It shows demand, weekly supply, current pricing and future pricing. For example, gasoline usage in the U.S. is 337 million gallons of gasoline per day and 166 million gallons of aviation fuel.
At the end of 2019 petroleum and heating fuel cost was 44% nationally. At the end of President Biden’s first six months in office it jumped to 59%. As a direct result of Biden’s executive orders, the cost of diesel fuel escalated because of the demand created by the Biden Administration to transport fossil fuels by truck. Diesel fuel by trucks is not cost efficient nor as environmentally friendly as it would be transporting it through a pipeline.
We have short memories. Within two weeks of taking office President Biden blocked completion of the Keystone XL pipeline, and within his first three months he put a moratorium on oil leases in the Gulf of Mexico, and stopped all drilling on government lands. He essentially stopped the use of coal and limited or curtailed fracking in the U.S.
Under President Trump we became the largest exporter of natural gas and petroleum in the world. Production by the end of 2019 increased significantly creating a 33% increase in the U.S. oil reserves. Oil increased to a record high of 12.25 million barrels per day. Our ability to produce excess electricity increased due to low natural gas prices and more efficient coal producers. Environmentally clean drilling technology, fracking, production of oil in 32 U.S. states and coastal waters produced 71% of U.S. crude oil. Crude oil prices were under $50 a barrel. As of 2021 prior to Russia’s invasion of Ukraine, we went from being energy independent to being dependent on foreign gas and oil. In Biden’s most recent speech he stated that the oil industry has 9,000 permits which can be used to produce new fossil fuels. What he did not say is the federal government has overregulated those permits based on environmental issues limiting their use geographically. It takes years of exploration without guarantees that any of these permits will produce fossil fuels.
Furthermore, based upon the EIA, renewable energy has only grown 13% in sixty years costing taxpayers more than $100 billion in subsidies. The EIA shows $24.5 billion went to countries overseas. Expectation is renewable energy can double or triple, but at what cost. It will take decades to achieve.
High inflation in the U.S. is on the Biden Administration alone. Although COVID began the surge, the Biden Administration continued to flood the country with billions of dollars allowing millions of U.S. citizens to remain non-productive long after the threat.
Realistically, there is no way the Biden Administration can eliminate the use of fossil fuels 2035. Crude oil is a key ingredient for heating homes, gasoline, aviation fuel, the manufacturing items such as plastic, propane, kerosene, asphalt, lubricants, solvents, denture adhesives, clothing, tires, vitamin capsules, antifreeze, refrigerator’s, golf balls, etc. Russia plays an insignificant role, less than 3%. This is more a result of consumption with the lack of productivity created by a self-serving political party.
William R. Bellotti
Bellotti served as Deputy Labor Commissioner under Gov. John Rowland