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Rising Oil Prices Put Biden in a Bind Over Climate Pledges

Benoit Faucon and Timothy Puko of The Wall Street Journal write on how rising oil prices are putting Biden in a bind over climate pledges.

The C3 Take
  • While the Biden administration has looked to limit domestic production of fossil fuels to curb climate change, they have asked OPEC to increase production to ease shortages and lower energy prices.
  • Good climate policy should look to provide reliable and affordable energy to consumers.
  • The rise in energy costs are showing the limitations of Biden’s climate policy. Rather than a prescriptive “everything but” approach, we should be embracing an “all of the above” energy portfolio that reduces emissions and provides affordable energy to consumers.

“His administration’s ambitious agenda to stem global warming calls for a shift away from fossil fuels. Yet Mr. Biden is now urging the Organization of the Petroleum Exporting Countries to increase production to ease shortages and lower prices.”

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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