It's a Gas!

President Biden recently announced that 144,000 acres

of federal land, actually a very small percentage of the 

acreage available, would be opened to oil and gas 

development, a welcome development in the face of 

an energy crisis brought on by an erstwhile reversal 

of President Trump's opening up areas to get oil and gas,

which helped lead to the United States becoming energy 

independent and a major exporter of oil --- even if Biden

has had his arm twisted by a court order. 

However, Biden is now in a pinch; he is caught between

an impatient public being so over his slow-moving 

domestic energy production during said energy crisis,

revved up by the invasion of and war in Ukraine, and the 

environmental radicals which make up much of his 

support, which opposes any domestic production at all,

period. So Biden passes the buck, making Russian 

dictator Vladimir Putin the fall guy for the U.S. suffering

gas prices exceeding four dollars a gallon, but we are 

hurt more by the energy-unfriendly policies enacted here

at home. Putin is no exemplar of civilized and gracious 

behavior, but he's not responsible for the United States 

seeing inflation make a comeback, rocketing to 8.3%

according to the U.S. Labor Department. That sorry 

phenomenon is due to Biden pumping loads of money

into the economy via his budget for our current year

with vast investments to increase public housing, 

public health, education, and combating climate change

among other things. The sudden flooding of the economy

with $1.5 trillion (!!) will greatly reduce the spending 

power of the dollar, as there would soon be too many 

dollars chasing too few goods due to the sharp rise 

in the money supply, followed by a stiff increase in 

the cost of the production of goods causing businesses  

to cut back on production, therefore producing less units 

of whatever goods they make. These goods will then 

sell at higher prices. People with higher income will 

feel a pinch; those with lower incomes will feel pain.

All being done while Biden refuses to untie the oil industry's

hands and let them extract more oil and produce more gas.

And all this is to allegedly "Build Back Better".

Sigh.

MEM