Commentary Americans are chafing at high gasoline prices. The average American understands the basic economic law of supply and demand well enough to realize that the cure for today’s higher prices would be an increased supply of oil. We Americans also have the good fortune of having abundant supplies of oil within American territory, and we also have the most skilled petroleum engineers in the world who know how to extract it. So, what’s the delay? It’s political. The Biden administration is so rigid in its anti-oil (more broadly, anti-fossil fuel) ideology that it continues to use regulatory roadblocks to impede and restrict domestic oil production. Instead, until recently Team Biden preferred that we import increasingly expensive oil from Russia. Now that Vladimir Putin has used that windfall to help finance war in Ukraine, Biden is seeking ways to buy oil from other hostile, disreputable regimes (e.g., Venezuela and Iran) …
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