Oil Prices Are A Foreign Policy Disaster

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As the Russian invasion of Ukraine continued, gas prices in America rose to their highest level since 2008. They jumped more than 57 cents in a month. Gas at the pump in some parts of the United States can cost more than $7 per gallon.

This is the obvious solution to the problem: The United States should open its drilling floodgates. For the first time ever, net US crude oil imports and finished product imports were exceeded by American exports. This was due to the dramatic increase in American production as a result of fracking during the past decade. However, this did not mean the United States stopped importing crude oils. However, we import 3.8 million barrels per day of crude oil as of 2019, a drastic decrease from the more than 10 million that we imported in 2005. In general, more production means less dependence.

As we are now witnessing, this matters. Europe, which relies more on oil from abroad than the United States has seen its energy prices rise since the Russian invasion. Germany’s Chancellor Olaf Scholz stated that Europe had deliberately exempted Russia’s energy supplies from sanctions. It is impossible to supply Europe with energy for heat, mobility, and industry in any other manner at the moment.” Boris Johnson, the British Prime Minister, agreed that there were different dependencies between countries and that we must be aware of them.

The United States should now be able to take a strong leadership role in the global energy markets. Instead, the Biden administration has chosen to seek aid from the worst dictatorships in the world to help reduce the cost of oil and gas production. In an effort to increase oil imports from Venezuela, the Biden administration sent emissaries this week to Nicolas Maduro, Venezuela’s dictator. Jen Psaki, White House Press Secretary, stated that the administration officials traveled to Venezuela to discuss a variety of issues, including energy security.

Juan Guaido was the leader of the opposition in Venezuela. He explained that it was foolish to believe Maduro would leave Russia. This is a mistake. It is not the same thing to buy oil from Maduro as it is to buy oil from Putin.

This is the crux of the matter: The international Left believes that dependence on oil-driven authoritarian countries is better than energy independence. This allows Left-wing leaders to appease their environmentalist base and keep energy prices low. As long as carbon-based emissions are being produced on American soil, they are unacceptable. However, we are willing to support Russian President Vladimir Putin, Maduro, and the Iranian Ayatollahs in their efforts to exploit the environment and promote tyranny both at home and abroad. So long as Greta Thunberg doesn’t disappoint us.

We continue to support the abject stupidity of Secretary of Transportation Pete Buttigieg who suggested to anyone suffering from high gas prices to just buy an electric car. We continue to support the stupidity of Psaki who said that $7-a-gallon gasoline was possible by “getting the entire country off fossil fuels.” After that, we import energy from the worst countries in the world.

Opposition to oil-and-gas development was always a privilege for rich countries. We simply outsourced the pollution from other places. As it turns out though, all of us pay the price for being willing to pay autocrats so that we can pretend we did our part for Greenpeace.