Watch: Biden Energy Advisor Admits That Admin Wants To Limit Oil Production “To Accelerate The Transition”

Watch: Biden Energy Advisor Admits That Admin Wants To Limit Oil Production “To Accelerate The Transition”

Authored by Steve Watson via Summit News,

Biden administration energy advisor Amos Hochstein admitted Wednesday that while the regime wants to increase oil production in the short term, its overall aim is to limit it in order to “accelerate the transition”.

Appearing on CNN, Hochstein proclaimed “I think we have been clear that we want to see the U.S. industry increase oil production.”

Then in the same breath, Hochstein stated that the main goal is to limit production of fossil fuel derived energy now in order to “make sure that we’re in a better footing to accelerate the transition.”

“So, we have to make that differentiation to make sure that the American consumer has what it needs… to grow our economy and the global economy, but not take steps and endanger the climate work that we’re trying to do,” Hochstein further declared.

He continued, “[I]t is about making a choice between what is the short-term and the medium-term so that we can make sure we have enough oil and gas to support us through the transition, and what are the kind of steps that we don’t want the oil and gas industry to take that would have long-term consequences when we don’t want new major projects that would take 20, 30 years to become profitable.”

Watch:

The comments came in the wake of Biden announcing another release of 15 million barrels of oil from the Strategic Petroleum Reserve ahead of the 2022 midterms in an attempt to reduce gas prices.

During the CNN interview, Hochstein also claimed that the administration intends to buy oil at $70/barrel next year, when prices come down, to refill the SPR:

The U.S. SPR is at its lowest level for 4 decades, and has tanked since Biden took office:

Biden himself repeated the claim that he will buy back oil at a lower price and save money, while critics pointed out that Democrats blocked President Trump from filling the reserves when oil was just $24/barrel two years ago:

The White House Press Secretary had no answers when asked about that:

Jean-Pierre also failed to explain why more oil is needed from the SPR if gas prices are going down, as the Biden regime has claimed:

Fox News reporter Peter Doocy asked Jean-Pierre “So, you’re asking oil companies to further lower gas prices. What makes you think they are going to listen to an administration that is ultimately trying to put them out of business?”

Jean-Pierre knows full well that the agenda is the “transition,” and to put an “end” to fossil fuel energy companies.

The administration is openly admitting that is the case while Jean-Pierre plays dumb:

While Biden claimed that oil companies are raking in record profits and that the price of gasoline is not being reflected at the pump, his official Twitter account sent out a chart showing the exact opposite:

While it is still up on average $1.50 from when he took office, Biden’s Chief of Staff Ron Klain claimed the administration has “tackled” gas prices:

The administration continues to claim the economy is “strong”…

…while quietly preparing for an economic crash on par with 2008, according to The New York Times.

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Tyler Durden
Thu, 10/20/2022 – 13:05

via ZeroHedge News https://ift.tt/UR35Eup Tyler Durden

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