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The layers here are impressive.
First off, giving people more “free” money to offset rising gas prices will only cause inflation to further skyrocket, making gas prices even worse.
But their horrible idea was stopped by the Biden supply chain shortages.
Biden officials are taking a second look at whether the federal government could send rebate cards out to millions of American drivers to help them pay at gas stations — an idea they examined months ago before ruling it out. Aides had found that shortages in the U.S. chip industry would make it hard to produce enough rebate cards, two people familiar with the matter said.
This, ladies and gentlemen, is a textbook comedy of errors!
The attempts to explore out-of-the-box solutions to high energy prices reflects the paucity of available solutions to the administration, as well as the extent of the challenge they pose. White House spokesmen have said all options are on the table, but one White House official said the rebate proposal — pushed by some Democrats in Congress — was unlikely to advance due to the logistical difficulties. Critics also say the idea could backfire by further pushing up prices by adding to consumer demand.
Other proposals floated by policy experts include suspending the Jones Act, which would reduce shipping costs and make it cheaper to get gasoline from the Gulf Coast to the Eastern Seaboard, imposing price controls and banning exports of U.S. energy. But all these ideas have their own political and practical downsides, with the Jones Act supported by influential union groups, and economists warning that any supply restrictions could exacerbate the problem. One person said the White House has also looked at limits on fuel exports, an idea first reported on Thursday by Bloomberg News.
Or, you know, Biden could go back in time and undo all of the things he did to kneecap the domestic oil industry.
Or, starting today, he could rescind his executive actions that destroyed American oil.
Biden on Wednesday defended his administration’s record, arguing it is doing everything possible to lower families’ costs — including at the pump — in the face of immense head winds.
“I’m doing everything in my power to blunt Putin’s gas price hike,” Biden said, referring to Russian President Vladimir Putin. “We’re going to work to bring down gas and food prices. We can save families money and other items.”
What a time to be alive!
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