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Confronting Inflation, Biden Administration Turns to Oil Industry It Once Shunned

Timothy Puko of The Wall Street Journal reports on the Biden administration’s relationship with the oil industry.

The C3 Take
  • As gasoline prices and inflation increase, the Biden administration is looking to the oil industry to reduce costs for consumers.
  • The relationship between the Biden administration and America’s oil companies has been damaged by the administration’s permit revokal for the Keystone Pipeline and its calls on OPEC to drill more oil.
  • To reduce rising energy costs the Biden administration should empower the private sector and American energy producers by reducing government-imposed barriers that hinder production.

“As a candidate, Mr. Biden said the country must transition away from oil, and in his first months in office he moved for more stringent regulations on the industry, explored restrictions on oil production and revoked a permit for the Keystone XL pipeline.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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