The Biden administration energy policy reminds me a lot of Johnny Lee’s 1980 hit country song “Looking for Love (In All the Wrong Places)”, except it should be changed to “Looking for Oil in All the Wrong Places.” With, first, inflation surging and, now, Russia invading Ukraine, the Biden administration is looking for oil. Except it is looking in the wrong places.
Late last year, with gas prices up, the Administration asked Saudi Arabia and the Gulf states to increase oil production. They wouldn’t. According to some reports, one of the reasons the Administration is pushing to reinstate the Iran nuclear agreement is to get Iranian oil back on the world market. The New York Times has reported that Administration officials are talking with Venezuela on ways to end on sanctions on their oil, to get supplies up and gas prices down.
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