A Confused Biden Declares the Wrong Emergency

I’ve been writing about the topic of energy on and off for the last year or so.

That’s because energy prices have been one of the biggest drivers of inflation. And the administration’s green energy agenda is one of the biggest drivers of higher energy prices.

Energy Inflation

Source: Tradingeconomics.com

As of June, energy prices had soared 41.6% year-over-year. That’s the biggest jump since April 1980.

It’s hard to overstate the kind of impact that has on the prices of literally everything.

So in true political form — i.e. never letting a crisis go to waste — the President got up last week to declare an emergency…

Jumping on the Wrong Crisis

Last week the president stepped to the microphone at a retired coal plant in Somerset, MA and once again promote his green energy agenda saying:

“Let me be clear: Climate change is an emergency.” 

He added… 

“Since Congress is not acting as it should,” Mr. Biden said, he considered climate change “an emergency. And I will—I will look at it that way.”

Aiming to lower global temperatures by 2 degrees celsius (the green movement’s goal), when people are baking in the sun across the country this summer doesn’t seem like a very helpful solution. 

But to be fair, he did mention a couple actions they were taking…

The Federal Emergency Management Agency (FEMA) is announcing $2.3 billion in funding for its Building Resilient Infrastructure and Communities (BRIC) program for Fiscal Year 2022— the largest BRIC investment in history.

(T)he Department of Health and Human Services is issuing guidance that for the first time expands how the Low Income Home Energy Assistance Program (LIHEAP) can promote the delivery of efficient air conditioning equipment, community cooling centers, and more.

The Department of the Interior is proposing the first Wind Energy Areas in the Gulf of Mexico, a historic step toward expanding offshore wind opportunities to another region of the United States. These areas cover 700,000 acres and have the potential to power over three million homes.

You wouldn’t be wrong to wonder how quickly Americans might feel relief from these presidential actions. 

What he didn’t do was declare an actual emergency.

Naturally this disappointed the more hard core within his energy contingent who preferred he just “formally declare a climate emergency, which would enable the use of the Defense Production Act to ramp up production of a wide range of renewable energy products and systems.”

Flying in the Face of the Real Crisis

I typically don’t give a lot of weight to the political polls that get published week after week. But I really can’t imagine that combating climate change ranks anywhere near the top. This was a recent Monmouth Poll…

It doesn’t take a Harvard PhD to understand that inflation is killing a majority of the population today. Gas prices, while easing back a bit the past couple weeks, are still over double what they were just two years ago.

And while current business inventories might suggest that prices of certain durable and nondurable goods may cool off a bit by 2023, it won’t mean much if energy prices are still soaring.

As long as he keeps trying to advance his green energy position, inflation is not going away…

Make the trend your friend,

Bob Byrne
Editor, Streetlight Daily