To the Editor:
President Biden’s Administration is responsible for the rise in gas prices. The Democratic Party is encouraging Green Energy (no source of energy is totally green), and for that to occur they have to deter the oil industry. President Biden has mentioned that he wanted to eliminate the oil industry. You will notice how gas prices rise during Democratic Administrations.
The following data is the year, the average gas price and the president: 2006-$2.60- George Bush; 2012-$3.80- Barack Obama; 2018-$2.75-Donald Trump-2020-$2.25-Donald Trump; 2022-$4.90-Joe Biden. It appears that oil companies only become greedy during Democratic Administrations. We went from an energy independent nation in 2020 to depending on foreign oil in 2022.
President Biden is correct that there are over 9,000 permits available to oil companies and suggested the oil industry to start drilling. But it is not that simple, because there are many additional steps before companies begin production. Companies have to contract rigs to drill the wells and build a sufficient inventory of permit rigs.
Producers must put a drilling plan together, secure rights of way and work with state and private landowners. Thousands of unused permits are not uncommon in any presidential administration. Oil companies must be sure that the costly investment and time that it takes to turn a lease into a producing well is worth it. In addition, environmental groups are suing the Biden Administration to block 3,500 oil and gas drilling permits.
The idea that politicians would want gas prices to be around 50 cents per gallon does not support the Democratic Party’s policy to encourage electric vehicles and green energy. If gas prices were low, there would be little interest to purchase electrical vehicles. The Inflation Reduction Act gives incentives to purchase electrical vehicles. To infer government has no control over the oil industry or any industry is foolish.
Prices on commodities are driven by supply and demand. President Biden blamed the rise on gas prices on Russia but wants credit for the lower gas prices now. The demand for gas has gone down because folks are not driving as much because of the cost.
– Wayne Finkbeiner, Wildwood Crest
