Oil heading to eye-popping $200 barrel, with $10 gas coming to America thanks to energy policies made worse by Biden, Dems

Millions of Americans who have been pining for ‘green energy’ alternatives for years were hopeful when Joe Biden was installed following the November 2020 election that Donald Trump actually won because of his pledge to aggressively pursue them.

Biden immediately reversed most of Trump’s pro-America, pro-fossil fuel development policies and priorities including the cancellation of the Keystone XL pipeline that a Canadian company had waited for more than a decade to build after spending billions of dollars on construction and supplies.

Democrats who hate fossil fuels dutifully obliged with a multitrillion-dollar infrastructure bill that includes billions to subsidize the purchase of ‘electric vehicles’ — never mind that our country doesn’t have the power grid to handle tens of millions more electric devices connecting to it.

After Trump made our country energy independent for the first time in decades, Biden’s energy policy reversals have left us dependent again on volatile regimes including Mother Russia, which is now engaged in a war with Ukraine after invading late last month — an invasion that did not take place under Trump and would have if his reelection had not been stolen.

Russia is one of the world’s top oil producers; with countries now shunning Russian oil, the markets are starved for replacement supplies — which the U.S. could have produced had Biden not cut our capacity to do so.

As such, oil prices are now headed north and in a quick minute, with gas prices following closely behind. In fact, some analysts are predicting $200 oil very soon, along with $10 a gallon gasoline in America (it will be much higher than that in Europe).

Cecilia Rouse, chair of the White House Council of Economic Advisers, said that the regime is also considering cutting purchases of Russian oil (which is helping to finance Vladimir Putin’s war) while at the same time ‘trying to figure out’ how to replace it (easy — open up more exploration and subsidize domestic production).

“We are considering a range of options but what’s really essential is that we maintain a steady supply of global energy,” Rouse said.

While there are ongoing talks with Russia and Iran (and, via backchannel, the Biden regime) to purchase Iranian oil (can you imagine if Trump wanted to buy Russian and Iranian oil after he was falsely accused of ‘coddling dictators’ his entire term?), Pioneer Resources CEO Scott Sheffield said in an interview with the Financial Times over the weekend that oil would “easily” go to $150-$200 a barrel if the Western world bans Russian oil and gas.

“The only way to stop Putin is to ban oil and gas exports,” the boss of the largest U.S. shale company told the Financial Times. “[But] if the western world announced that we’re going to ban Russian oil and gas, oil is going to go to $200 a barrel, probably — $150 to $200 easy.”

There are additional problems to getting U.S. domestic supply going again, all due to insane Democrat-driven COVID pandemic policies that upset the labor market as well as domestic production of commodities and goods, creating shortages of everything that have not been improved since Biden was installed in January 2021.

Even as he backed calls for an oil and gas embargo against Russia, Sheffield said that the U.S. would not be able to replace lost Russian crude this year.

“I’m talking about a two- to three-year plan. Because U.S. shale, even if somebody adds a [drilling] rig . . . it takes six to eight months to get first production. There’s labor shortages, there’s frack fleet shortages, there’s rig shortages, there’s sand shortages,” he added.

Literally, every economic aspect of our economy Democrats touched or influenced has collapsed, and now the most incompetent person in the country is president, making bad situations even worse.

If you’re not convinced America and the world are headed for collapse if we stay on the current course — $200 oil — you’ve not been paying attention.

Sources include:

ZeroHedge.com

FT.com