No matter what changes in our day-to-day lifestyles, counting on President Biden to take the least prudent course of action is something you can count on. Lately, he’s set his nearsighted eyes on the vision of making America a green nation. This idea was something he stated in his campaign speeches and enacted when he first took office.
Taking aim at the oil industry and taking out its ability to expand has led to skyrocketing inflation across the U.S. Despite decades in politics, eight years as a Vice President, and over a year as President, Biden still doesn’t understand how inflation works and how balanced it is. Instead, he just keeps hiding from the truth and using any liberal idea that is thrown his way.
The latest idea is to ignore the pleas of Americans asking for lower gas and oil prices by tossing $6 billion towards failing and in-danger-of-closing nuclear power plants. With bids for contracts coming in to be certified, the U.S. Department of Energy unveiled the previously kept quiet plan. An investment like this marks the largest federal investment in saving financially distressed nuclear reactors.
Bailouts like these are astounding. These owners and operators are making energy and selling it to power companies and individuals to power their worlds. This is an industry with more built-in customers than the subway industry in NYC, and yet they are needing bailouts. No change of the board of directors, business plan, or managers is required, either. With the first round of funding being targeted at plants that have announced their plans to close, and the second going to those at the greatest risk of having to make the same announcements.
Since the last great bank bailouts of 2008, there have been mixed messages being put out by the White House. President Bush signed off on the 2008 bailouts as a last resort due to poor financial decisions, and these banks were too big to fail with everything they had done in the country. This action infuriated the liberals, and yet the eight years of President Obama were nothing but bailing out special interest groups. Now with Biden, we are seeing a massive influx of carrying on the Obama traditions but now adding in more of the fringe liberal agenda.
Having the liberals so deeply in his brain has shut Biden off from the idea of doing anything to help save the oil industry and the American consumer. We need lower prices on having affordable food, affordable gas, and affordable energy bills. The nuclear plants only service so many people, and in remote areas, people aren’t seeing the benefits of these nuclear power plants. They largely are still using coal, natural gas, or oil for their electricity.
Their lack of electricity options means they aren’t being bailed out. Even those being bailed out, aren’t being given real help in getting their bills lowered or getting their lives stabilized. Instead, these plants get free repairs/maintenance done, on the American taxpayer dime, with no plan to ever repay the money, or guarantee that this money will keep them open.
We have already seen in many manufacturing industries, that just because you got bailed out doesn’t mean you’ll become profitable. GM is a great example of this happening in real-time. The bailout money they got just allowed them to shutter more plants and brands while paying out record profits to board members and certain stockholders. Meanwhile, vehicle costs continued to skyrocket, and the average American was paying even more for their car.
As such, we are now seeing the same thing across the energy sector. This trigger of massive inflation needs to be handled, but oil needs a huge chunk of that focus. This means more drilling, more research, and more use of what we have. Avoiding foreign dependence on oil does need to be a top priority at this point.