Revisited: Q&A of The Day

Episode Transcript

Speaker 1 (00:00):
Today's Q and A of the day, how much less
domestic energy is available due to Biden's policies. This is
brought to you by Melissa and Ashes check Mark collections.
Each day I feature a listener question sent by one
of these methods. You may email me Brian Mud at
iHeartMedia dot com, reach me out social media at Brian
Mud Radio, Get our Parlor, and Twitter. You may also

(00:20):
use the iHeartRadio talk back feature. Just go to WJNO
inside the iHeartRadio app, tap the microphone button, lay down
your message right there, perhaps for a future Q and A.
Today's note is this one at Brian Mud Radio. How
much less US energy is produced because of Biden restrictions. Okay,
so today, as we digest another psychologically challenging and expensive

(00:42):
gas price reality in South Florida, as we near five
dollars per gallon for regular unleaded gas, comes this question.
How much of what's happened here can specifically be attributed
to Biden administration policy. What might gas prices look like

(01:04):
if the Trump era policy were still in place? As
I frequently decided over the past year, President Biden took
Day one executive action to end the Keystone XL pipeline
and Week one action to ban the harp seat of
energy on two point four to six billion acres of
federal land, along with increased regulations on the industry. The

(01:26):
name of the sweeping January twenty seventh, twenty twenty one
executive order was Executive Order on Tackling the Climate Crisis
at Home and Abroad. Part one of that order states
putting the climate crisis at the center of the United
States foreign policy and national security. Okay, so it's important

(01:51):
to reflect on the actual policy itself for the understanding
of the priorities in impact in today's society. The Biden
administrations energy policy is ordered through the prism of a
climate crisis. That's why President Biden has stated he will
not change his administration's policy approach and adds for the

(02:12):
quantifiable impact on today's energy market of having an energy
policy that is dictated through those terms. I'll start with
the impact of the banning of energy harvesting on federal land.
According to Morgan Stanley, federal land represents twenty five percent
of domestic energy production. With President Biden's ban on harvesting

(02:34):
energy via not allowing new projects on federal land where
it was previously authorized. Twenty five percent of our potential
capacity has been taken offline. Speaking specifically to the domestic
oil market, which is central to our gas price crisis,
the banned federal land represents two point seven million barrels

(02:56):
of oil per day and potential production on reed. Then,
of course you have the Keystone Excel pipeline. The pipeline,
which was scheduled to have been online by now, would
have sent eight hundred and thirty thousand barrels of Canadian
crewed into the United States daily. So that is a

(03:17):
total of three point five three million barrels of oil
per day in the United States not happening as a
direct result of President of Biden's policy. So the United
States currently produces an average of eleven million barrels of
oil per day. The administration's limitations amount to cutting domestic

(03:38):
energy supplies by about a third, or thirty two percent
of what's possible now. There's no way to know exactly
what prices would be or all of that additional energy online.
It's not as easy as just saying, hey, there'd be
thirty two percent more energy. Therefore prices would be thirty
two percent lower. But there's no doubt energy prices would
be dramatically lower, and perhaps by an amount that's even

(04:01):
greater than thirty two percent, probably would Adding to the
challenge presented by the highly restrictive Biden administration policies was
the timing of when he issued them. The price of
a barrel of oil when Biden took office was around
fifty dollars. The cost to produce a new barrel of

(04:21):
oil in the United States is approximately forty eight dollars.
When oil was so low, domestic energy producers weren't aggressively
expanding projects because they wouldn't have been profitable in doing so. Obviously,
with oil prices so high, it'd be highly profitable to
harvest new energy, but the limits place on the industry
through regulations and land bans, have now inhibited their ability

(04:44):
to do so. So, with all those actions having been
enacted by President Biden unilaterally through executive order, he could
rescind them at any time through executive action. That means
each day we have energy prices as high as we do.
It is a presidential preference based on what Biden believes
is a greater climate crisis. He said as much on

(05:05):
his recent Asian trip quoting him. When it comes to
the gas prices, we're going through an incredible transition that
is taking place that God willing, when it's over, will
be stronger and the world will be stronger unless relying
on fossil fuels when this is over. So yes, five

(05:26):
to doar gas is all part of the plan, and
limiting us energy by a third was the means of
attempting to get there.