Americans are feeling the sharp sting every time they make it to the gas pumps and the prices are set to get much higher as average gas prices break records for the fourth consecutive day in a row.
Overnight, the prices crept up a further six cents, sitting at $4.318 a gallon, 59 cents higher than it was only a week ago.
Prices had already been rising prior to Russia sending in troops to Ukraine, but of course the White House is holding Russia solely responsible for the price spike, dubbing it “Putin’s price hike.”
White House Press Secretary Jen Psaki insists that there are already 9,000 private oil fields to drill oil, but completely ignores the fact that Biden shut down one of America’s pipelines, the XL pipeline from Canada.
“What additional permits do they need? The leases are there. The permits are there. I don’t think they need an embroidered invitation to drill,” Psaki told reporters.
Breitbart News reported:
The cost of capital in 2022 is reportedly 20 percentage points more costly for long-cycle developments than in the past. “Ten years ago, the ‘cost of capital’ for developing oil and gas as compared to renewable projects was pretty much the same, falling consistently between 8% and 10%. But not anymore,” Bloomberg reported in November.
Oil companies have little incentive to make 10-year investments when politicians are incentivizing the consumption of oil through renewable energy subsidies.
Biden has waged a war on both public and private financing of oil drilling while subsidizing green new deal-like energy plans. The result has been that American oil production is down from 2019, the year before the pandemic. Hard numbers suggest 2022 oil production is 12 million barrels or 8 percent less than in 2019.
Biden is refusing to allow drilling on federal land, but still maintains this is all Russia’s fault, while mainstream media tries to imply that Americans are more than happy to pay increased prices, to “help” Ukraine.
While Americans struggle to fill up their vehicles, the House Democrats are spending huge amounts of taxpayer dollars on their green pet projects.
A $1.5 trillion omnibus spending bill has been passed by House Democrats, which was separated into two votes. The first focused on security funding – which passed 361 to 69.
The second vote, which focused on the remainder of the spending, was passed 260 to 171.
House Speaker Nancy Pelosi (D-CA) delayed the vote for the second half, as the bill originally had $15 billion worth of covid relief and after much opposition, Pelosi stripped the funding out of the bill.
Pelosi of course defaulted to blaming the Republicans, but it was in fact, the Democrats who raised issues with the bill.
“Because of Republican insistence — and the resistance by a number of our Members to making those offsets — we will go back to the Rules Committee to remove COVID funding to meet the needs of America’s families,” she wrote in a letter to House Democrats.
The bill is also said to set aside $13 billion in aid to Ukraine while it is embattled with its neighbor Russia and along with that, contained a plethora of leftist neo-environmentalist projects.
The bill also includes security for the borders of 8 countries, but contains nothing to protect America’s own borders.
Breitbart News reported on a Republican Study Committee (RSC) document and found that the bill has many issues, including:
• The bill would spend over $100 billion on Green New Deal initiatives, and advance “racial justice” through Department of Agriculture programs.
• The bill also contains $100 million for environmental justice activities at the Environmental Protection Agency (EPA), and $75 million for low or zero-emission vehicles
• $26 billion in food stamp funding
• This is the first spending bill to include earmarks.
• No protections from Chinese espionage in grants to the National Science Foundation
• Increases National Institutes of Health (NIH) funding by 10 percent
• Provides $66 million for the “Racial and Ethnic Approaches to Community Health (REACH), an increase of $8 million from last year
The bill also contains taxpayer funding for Planned Parenthood.
One Republican Rep. From Arizona, Andy Briggs, said in a statement that, “This bill would exacerbate our out-of-control spending. At a time when the national debt has surpassed $30 trillion, Congress cannot continue this cycle of reckless spending. This bill would dramatically increase the deficit, leaving a massive bill for our children to pay.”
“Six months into the fiscal year, Nancy Pelosi released a 2700-page bill in the middle of the night and gave members less than 24 hours to read it,” he added. “Congress must fund the government in a responsible and appropriate manner by returning to regular order and going through the committee process.”
Now the bill will make its way to the Senate, where it must be passed there to avoid a government shutdown.