When Joe Biden entered office, he began pushing the worst parts of the “Green New Deal.” Without approval from Congress, he abused his executive part to systematically force Americans to “switch” to poorly-performing “green” energy.
Hey, he promised he was going to do this during the 2020 Election. Joe said he was going to “end” the oil and natural gas industries. And he tried to do it, by shutting down drilling on federal land and throwing billions of our dollars at green tech.
The problem? He failed miserably. Companies that bet on EVs have lost billions. Green alternatives to energy cannot meet energy demand. Gas prices have skyrocketed, contributing to crippling inflation.
But it’s eventually going to work, right? Blue states are forcing residents to convert to green cars and tech. Fossil fuels are as good as dead. Not quite. And a big merger has exposed just how badly Biden’s failed to create a green utopia.
Diamondback Energy is merging with Endeavor Energy Resources, a privately held company. The buyout is the latest in a frenzy of mergers that began in October, and analysts say it’s reflective of a matured shale industry and a long-term bet on oil and gas demand…
While the mergers are bringing efficiencies, they are also signaling an industry that is investing heavily in the long-term. This disputes speculations that the oil industry will soon sink under the weight of “stranded assets” as the world will supposedly transition away from fossil fuels. Stranded assets are often defined as infrastructure, property and investments where the value has fallen so steeply they must be written off.
“No one in the industry believes the stranded asset theory, and you see it today in OPEC’s demand forecast, and very strong demand for the foreseeable future, really, for decades to come,” Blackmon said in an interview. [Source: Just the News]
Ironically, Biden’s idiotic move to shut down drilling on federal land actually made oil companies more money. A reduction in available oil dramatically increased the cost of oil, meaning oil companies are sitting pretty. And they are betting on the future. One expert even said demand for oil and natural gas will only grow in the coming decades.
Biden’s attempts at crippling this industry failed miserably. Even if 25% of Americans switch to electric cars, we’d need fossil fuels to keep them charged. Green sources of energy have failed to meet demand—and create many new problems, like killing whales.
Oil companies are making huge, billion-dollar mergers, because they know they aren’t going anywhere. They are raking in big bucks, as are foreign oil-producing nations. The only people suffering are Americans, who are paying more for energy. If Biden was smart, he’d end his war with fossil fuels and help Americans save their cash.
But he won’t, because he is the America Last president.
Author: Bo Dogan
