The Wildly Inconsistent and Confusing Energy Policy of the Biden Admin

Comes now the Biden War on Energy wherein President Biden took a series of anti-energy actions during his first week in office to include the gleeful cancellation of the Keystone XL Pipeline from Canada to the US Gulf Coast.

On the cutting room floor lies 900MM barrels per day lost to the Keystone XL Pipeline cancellation. Alas and alack!

Many will say these singularly targeted Executive Orders began the relentless and cruel rise of inflation from the 1.4% that Trump bequeathed to his successor.

The “many” would be right. Just look at this chart.

Wait, there’s more!

But, just when you thought it was easy to figure out energy-hating Joe Biden, his admin does something like this: APPROVING THE LARGEST OFFSHORE OIL EXPORT TERMINAL in US history with a capacity of 2MM bbl/day.

[Betting they didn’t check with the lefties on this one.]

This terminal will be located in the Gulf of Mexico at 50 miles south of Galveston and will accommodate the loading of ULCC (ultra large crude carriers) and their baby sisters, the VLCCs (very large crude carriers).

An ULCC is typically about 1500′ long, draws up to 90′ of water when full, and can carry 3,000,000 barrels of crude.

An ULCC can make 15 knots and takes a couple of hours and fifteen nautical miles to come to a complete stop whilst taking two kilometers to turn around. Too large to make transit through the Panama or Suez Canals, they only add $0.02 – $0.04/gallon to gasoline for the cost of transit.

The Seawise Giant was the largest tanker ever built with a length of more than 1500′ and a full deadweight of 565,000 tonnes (2,204.6 lbs/ton). It was sunk during the Iran – Iraq war, but it was salvaged and then scrapped.

But, wait, Big Red Car?

Yes, dear reader, it is confusing and contradictory, isn’t it? On one hand, the Biden admin has its ongoing War on Energy, but on the next hand, they approve a gigantic project intended to export US energy overseas — which will not actually reduce US oil or gas prices, will it, dear reader?

In fact, siphoning off 2MM barrels of crude per day may cause oil prices to rise further.

Sigh. WTF is going on here?

Bottom line it, Big Red Car, lunch plans

The Biden admin sends yet another confusing and mixed signal – on one hand they are clearly anti-energy whilst approving a gigantic energy project that will encourage shipping more US crude overseas which will exert further pressure on domestic prices.

But, hey, what the Hell do I really know anyway? I’m just a Big Red Car.

“Hmmm, what exactly am I doing here? Even I’m confused.”