It’s petty choices like this that will crown Biden as God Emperor of Stagflation.
Biden has issued another petty order designed to demean former President Donald Trump, while also hurting average Americans across the country.
President Joe Biden on Friday restored two sprawling national monuments in Utah, reversing a decision by President Donald Trump that opened for mining and other development hundreds of thousands of acres of rugged lands sacred to Native Americans and home to ancient cliff dwellings and petroglyphs.
The Bears Ears and Grand Staircase-Escalante monuments in southern Utah encompass more than 3.2 million acres — an area nearly the size of Connecticut — and were created by Democratic administrations under a century-old law that allows presidents to protect sites considered historic, geographically or culturally important.
“This may be the easiest thing I’ve ever done so far as president — I mean it,″ a smiling Biden said at a White House ceremony attended by Democratic lawmakers, tribal leaders and environmentalists.
Additional areas in New England are also covered.
And in New England, the Northeast Canyons and Seamounts Marine National Monument in the Atlantic Ocean, southeast of Cape Cod, will return to its original protections under Obama in 2016. Under Biden’s order, recreational fishing “may continue.” Trump had made a rule change under his administration to allow commercial fishing at the marine monument. The monument is composed of 4,913 square horizontal miles.
And while the media promotes all the environmental activist joy from the decision, there are a few aspects of this reversal that are not being highlighted. As one Republican notes, this approach does not offer that land all the protections of congressional action.
In a statement released with other state leaders, Utah’s Republican governor, Spencer Cox, said: “The president’s decision to enlarge the monuments again is a tragic missed opportunity – it fails to provide certainty as well as the funding for law enforcement, research, and other protections which the monuments need and which only congressional action can offer.”
Also unmentioned in the news stories is that the lack of resource development is likely to have very serious consequences sooner rather than later. Utah is the third largest metal producing state (copper, gold, molybdenum, silver, lead, iron, zinc, uranium, beryllium, vanadium, manganese, and tungsten). Many of these minerals are essential to the electronic devices that leftists like to use to spread their eco-activism.
Copper prices are poised to surge in the wake of shortages.
The world may soon face a copper shortage, as widening supply and demand deficits threaten to push the price of the metal to $20,000 per metric ton before 2025.
According to a note published by Bank of America commodity strategist Michael Widmer and later seen by CNBC, copper inventories have fallen to levels not witnessed in 15 years, and are only able to cover 3 weeks worth of demand. “Linked to that, we forecast copper market deficits, and further inventory declines, this year and next,” he said.
The latest copper shortages come just as the global economy is showing signs of recovery and industrial sector demand is rising. “With inventories close to the pinch-point at which time spreads can move violently, there is a risk backwardation, driven by a rally in nearby prices, may increase,” Widmer explained. Increased volatility from declining inventory levels does not come as surprise, Widmer added, pointing to nickel shortages at London Metal Exchange warehouses between 2006 and 2007 that caused a 300% rally in nickel prices.
On the other side of the country, the Massachusetts Lobstermen’s Association previously sued to get rid of the Northeast Canyons and Seamounts Marine National Monument, which became the first national ocean monument in the Atlantic via Obama’s mighty pen. The fishermen argued that establishment of a protected zone where they have historically fished for lobsters and crabs could hurt their livelihoods.
Therefore, we can anticipate shortages of lobster and seafood now…as well as rising prices.
It’s petty choices like this that mean that Biden, not Jimmy Carter, will be crowned God Emperor of Stagflation.DONATE
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