Biden once crowed he would be “doing away with” fossil fuels. Now he is eating crow.
During his campaign, Biden crowed that he was going to do away with fossil fuels.
Gas prices have doubled since Biden took office. J.P. Morgan analysts predict $6 a gallon by August. And experts warn this crisis will continue even after Biden’s term ends because he’s dismantling fossil fuel production.
When Biden was running for president, he promised to shut down oil producers: “No ability for the oil industry to continue to drill, period.” He pledged to put the country on “an irreversible” path toward “doing away with” fossil fuels.
Biden is now eating crow, as his poll numbers are collapsing into a massive blackhole of voter resentment and nobody is blaming Putin for the escalating gasoline prices.
His handlers have clearly determined it is time for a new tactic. So, the administration is considering plans to send out rebate cards to struggling Americans.
A White House official told FOX Business that the administration has not ruled out the distribution of gas rebate cards. The cards would hypothetically subsidize the price of gas for Americans – many of whom are struggling to make ends meet with fuel now priced at the level of a luxury good.
“The president has made clear that he is willing to explore all options and hear all ideas that would help lower gas prices for the American people,” the official told FOX Business.
Like every other Biden plan, this one is riddled with problems.
One of the concerns is logistics. Officials said they’re concerned about how they would be able to make sure the cards are just used for gas or don’t get stolen from the mail.
There’s also worry it would make the demand for oil even worse and drive prices even higher.
Experts also noted that making the cards would require millions of chips amid an ongoing chip shortage.
Despite the concerns, some officials said they like the idea because they believe it would be popular with families grappling with surging prices.
Clearly, the release of fuel from the Strategic Petroleum didn’t pan out as hoped.
Biden has already released millions of barrels of the US’ strategic oil reserve to help bolster supply, and has put pressure on the world’s largest oil companies to increase supply.
But those measures have done little to abate high gas prices, highlighting the political challenges for the White House as the 2022 midterms near and voters are increasingly concerned over rising prices and dissatisfied with Biden’s handling of the economy.
Finally, the plan to pump money into this economy to counter inflation is totally on-brand for an administration that is on track to be remembered as the worst in history.
— Adrian Norman (@AdrianNormanDC) June 17, 2022
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