Biden's & liberal Democrat's "Inflation Reduction Act" is potentially worth billions in subsidies to the Nation's big Oil & Gas Companies
By David Erinakes
AUSTIN, Texas (Texas Insider Report) — Dear President Trump: Your efforts to fast track an "all of the above" approach on energy is exactly what this country needs – not just for U.S. Energy Independence, but for American Energy Dominance and for our nation's U.S. Energy Security.
As you know, everything from food to clothes and new housing count on plentiful energy to be produced. And, when you attack fossil fuels – like the Democrats have – and forget its the core of all energy production, you drive up costs of virtually everything that's consumed in America.Were we supposed to believe Democrats didn’t know that would happen?
Remember, Joe Biden, Kamala Harris and the Democrats and media told us that – despite having 100s of years of fossil fuels buried under our nation's soil – we were supposed to suffer for their ideals. They didn’t seem to care if they were attacking the pocketbooks of each and every American – particularly those who they claim to represent and who could afford it the least, "the poor."
They also didn’t seem to care that this made it very tough to leverage energy for international diplomacy – which most Americans understand you need, as president, for a negotiating tool to help keep us safe. This is important to know.
Joe Biden and Kamala Harris have acted as if they don’t understand this basic concept, but I think its even more scary that they actually do understand it – and it's part of their plan for power.
If the Socialist Elites that now run the Democrat Party can control energy, that means the government can control the basic means of economic activity and production across our nation – and capitalism will slowly die out.
Joe Biden and Kamala Harris have acted as if they don’t understand this basic concept, but I think its even more scary that they actually do understand it – and it's part of their plan for power.
If the Socialist Elites that now run the Democrat Party can control energy, that means the government can control the basic means of economic activity and production across our nation – and capitalism will slowly die out.
I think Wayne Christian, Texas Railroad Commissioner (Texas’ Regulatory body for Energy, Oil & Gas) said it best:
“I highlight this for you to demonstrate what’s at stake."The United Nations, The World Economic Forum, the Biden Administration, and climate catastrophists all want to end fossil fuels forever. If they are successful, imagine what that would do to the Texas economy, the nation’s energy supply, and the world’s geopolitical stability," says Christian.
"I ask you: If America has an estimated 650 years of cheap, plentiful, and reliable energy, why should one penny – much less trillions of taxpayer dollars – be used to disrupt the free market?”
With that said, we need to realize that it’s not all about just getting our plentiful natural resources tapped into and above ground, but its also about expanding refining capacity.
You won, so obviously we can and should and will begin drilling again, but, the lingering big question remaining is: "Why is Big Oil urging you to not Gut Joe Biden’s Climate Laws?"
The answer seems to be – it may be about the money.
As designed by Joe Biden and the liberal Democrats, who intended to do more harm than good to the industry, the "Inflation Reduction Act" is potentially worth billions to them.
Was that a Quid Pro Quo? – i.e., Don’t sue us for our industry mandates and interference or manipulation, and we'll give you all the subsidies necessary to make a deal work?
As designed by Joe Biden and the liberal Democrats, who intended to do more harm than good to the industry, the "Inflation Reduction Act" is potentially worth billions to them.
Was that a Quid Pro Quo? – i.e., Don’t sue us for our industry mandates and interference or manipulation, and we'll give you all the subsidies necessary to make a deal work?
We need to ensure that the entire Oil & Gas Industry across America – big, large, small or independent, and everything in between – are working not just to maintain their own bottom lines or for themselves, but for America's consumers and the nation's industries that depend on their byproducts for production.As Commissioner Christian wrote:
“According to recent reports, several U.S.-based international oil giants are lobbying President Elect Trump to keep President Biden’s Green New Deal tax credits and other corporate welfare perks.
"Big Oil was once the fiercest opponent of Mr. Biden’s climate agenda, but now it's embracing the very law put in place to dismantle its own industry.”
"Against all logic, the major oil companies are cashing in on short-term gains from the Inflation Reduction Act’s taxpayer-funded subsidies, even though its goal is to shut them down.
"They’ve sided with their own executioners for quick profits, and American consumers and small oil and natural gas businesses will pay the price.
"It’s a betrayal to their mission of providing cheap, reliable energy, leaving small, independent producers – which develop nearly all of the nation’s oil and gas wells – holding the Green New Deal’s garbage bag.”
"Big Oil was once the fiercest opponent of Mr. Biden’s climate agenda, but now it's embracing the very law put in place to dismantle its own industry.”
"Against all logic, the major oil companies are cashing in on short-term gains from the Inflation Reduction Act’s taxpayer-funded subsidies, even though its goal is to shut them down.
"They’ve sided with their own executioners for quick profits, and American consumers and small oil and natural gas businesses will pay the price.
"It’s a betrayal to their mission of providing cheap, reliable energy, leaving small, independent producers – which develop nearly all of the nation’s oil and gas wells – holding the Green New Deal’s garbage bag.”
Mr. President, please consider taking these subsidies away and convert them into loan guarantees for building a massive network of refineries – with shovels digging by the end of the first year of your Presidency.
In addition, move Senior U.S. Dept. of Energy Administrators out of Washington, DC and locate them closer to the areas where exploration and production are actually happening the most.
That would make your changes irreversible under any future climate hysteria fanatics – and safe from those who want to rob our nation's citizens of the American Dream.
David Erinakes formerly worked in the Texas Legislature, and is currently Chief Executive Officer of The E Development Companies.
