Schmitt Criticizes Biden Administration's Energy Policies
What happened
Eric Schmitt criticized the policies of the Biden administration, stating that the administration cancelled the Keystone XL pipeline and halted all new oil and gas leases upon taking office. Schmitt argued that these actions prevent the lowering of gas prices.
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Why it matters
The criticism highlights how the administration's energy policies restrict domestic supply. This restriction could potentially raise global oil prices, which affects costs for businesses and consumers worldwide.
From twitchy.com
Who's involved
- Eric SchmittCriticized the Biden administration's energy policies regarding pipelines and leases.
- Joe BidenHis administration cancelled the Keystone XL pipeline and halted new oil and gas leases.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ChinaSpeculative
China might face higher industrial and consumer costs as reduced US domestic supply increases global energy prices.
- EuropeSpeculative
Europe could face higher operational costs due to reduced US domestic supply increasing global energy prices.
- Saudi ArabiaSpeculative
Saudi Arabia may benefit from policy halting US leases, which restricts domestic supply and potentially raises global oil prices.
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The entities involved
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Eric Schmitt
American politician and lawyer (born 1975)
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Joe Biden
46th President of the United States (2021–2025)