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Treasury Secretary Janet Yellen on Thursday admitted that Joe Biden’s ‘Inflation Reduction Act’ is actually the Green New Deal repackaged. Yellen said Biden’s Marxist spending bill will “rid ourselves” of oil and gas. "The Inflation Reduction Act will put us on our way toward a future where we depend on the wind, the sun and other clean sources of energy. We will rid ourselves from our dependence on fossil fuels,” Yellen said. VIDEO:

The U.S. Strategic Petroleum Reserve (SPR) hit historic lows this week as President Joe Biden continues to order a record release of barrels from the emergency stockpile. The SPR now sits at around 453 million barrels – the lowest level in 37 years. For perspective, the U.S. Energy Information Administration estimates that in 2021, the United States consumed an average of about 19.78 million barrels of petroleum per day. If oil and gas production were to halt completely, today’s SPR would have just enough supply to fuel the United States for 22 days. ------------------------------- Whole story depicted in Bloomberg Graph...

THE SCENE: As the curtain rises, we see an empty podium, in front of the humble 60-room mansion that serves as the village hall of the remote, rural village of Chelm. Next to the podium, on the lawn, is a shiny new American-made electric car. It is mid-morning on a weekday, and the members of the local village council – the Wise Men of Chelm – have just completed their weekly board meeting. A few reporters walk on stage, taking their seats in front of the podiums, and finally, the Mayor of Chelm’s press secretary, Benito Bugiardo, walks on stage,...

The Biden administration has sold nearly 6 million barrels of oil from the U.S. Strategic Petroleum Reserve to an entity tied to the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the U.S. trading arm of Chinese state-owned oil company Sinopec, according to a review by The Epoch Times of the DOE documents. A Chinese firm with ties to Hunter Biden had invested in the national oil giant. The sale would tap 5.9 million barrels in...

This is a war with many fathers, all having different goals, and one big loser: the Western way of life. There are several entities that saw a benefit in declaring war on fossil fuel: The environmentalists who are so historically illiterate that they believe a world without fossil fuels will be a bucolic paradise, rather than a Hobbesian nightmare; the leftists who want to break the West to rebuild it as a socialist paradise; the Great Reset/New World Order crowd, which envisions happy, possession-free serfs; and the Chinese, who foresee a bloodless conquest of the West which, believe me, will...

The Biden administration sold roughly one million barrels from the Strategic Petroleum Reserve to a Chinese state-controlled gas giant that continues to purchase Russian oil, a move the Energy Department said would "support American consumers" and combat "Putin's price hike." Biden's Energy Department in April announced the sale of 950,000 Strategic Petroleum Reserve barrels to Unipec, the trading arm of the China Petrochemical Corporation. That company, which is commonly known as Sinopec, is wholly owned by the Chinese government. The Biden administration claimed the move would "address the pain Americans are feeling at the pump" and "help lower energy costs."...

One of the most frustrating aspects to our current state of national affairs is that no politician will articulate the basic commonsense problem, and how the people handling Joe Biden are directly to blame for it. Instead, DC and national politicians talk around it, all of them pretending not to know.However, at least there is one voice in Tucker Carlson who articulates the economic and political reality in a framework that most can understand.In his opening monologue tonight, Carlson succinctly points out how the current state of economic anxiety is directly the result of Joe Biden chasing the Green New...

Joe Biden is busy blaming gas station owners for the soaring prices of filling up at the pump.Why, those dirty birds!It's his latest scheme to deflect blame for the nasty price shocks he's brought on us, with gas going for about $5 a gallon nationwide, and $6-something in tax-happy, save-the-planet California.He's also blamed Putin, Big Oil producers, oil refineries, Republicans, and anyone but himself when it's obvious enough that the root of the problem is his crush-the-oil industry policies that he launched on day one in the name of "going green." Combine it with his monster rounds of federal money-printing...

The data shows that there were 4,082,478,000 barrels of crude oil produced in 2021, an amount that is greater than any time in American history, except 2020 and the peak in 2019. 2017: 3,415,257,000 Barrels of Crude Oil2018: 3,993,288,000 Barrels of Crude Oil2019: 4,485,635,000 Barrels of Crude Oil2020: 4,129,563,000 Barrels of Crude Oil2021: 4,082,478,000 Barrels of Crude Oil (https://www.wusa9.com/article/news/verify/united-states-produces-more-oil-than-any-other-country-fact-check-russia-impact-on-gas-prices/65-7814c6e2-5437-4201-b021-face477e5462) Despite this drop from 2019's peak, the levels of production in 2021 were unmatched globally. "The United States is the number one oil producer in the world," Weiner said. "We produce more oil and gas than any other country in the...

Ford Motor Co.’s hot-selling Mustang Mach-E electric SUV and other plug-in models are being rendered unprofitable by rising raw material costs. “We actually had a positive bottom line profit when we launched the Mach-E, commodity costs have wiped that out,” Chief Financial Officer John Lawler said Wednesday at the Deutsche Bank Global Automotive Conference, referring to 2020, when the vehicle went on sale. “You’re going to see pressure on the bottom line when we launch our EVs, they’re not going to be positive.”

White House Press Secretary Karine Jean Pierre handed over the daily briefing to National Security Council Coordinator for Strategic Communications John Kirby Wednesday afternoon. Kirby was asked by Fox News correspondent Peter Doocy how long President Joe Biden can deplete the Strategic Petroleum Reserve before it becomes a national security problem. Kirby claimed he didn't know the current inventory and passed the question off to Biden's energy advisors. DOOCY: "How much lower can we let the strategic petroleum reserves get before that becomes a problem?"Kirby doesn't give a firm answer. pic.twitter.com/MfNXn5jREf— Townhall.com (@townhallcom) June 15, 2022President Joe Biden has tapped...

On Wednesday’s “CNN Newsroom,” White House Senior Adviser and Infrastructure Implementation Coordinator Mitch Landrieu stated that President Joe Biden has “done everything within his power” to lower gas prices even though releasing oil from the Strategic Petroleum Reserve didn’t work to bring down prices. Landrieu stated, “[T]he president has already enacted a massive piece of legislation called the Infrastructure Act, which is designed to actually help rebuild the supply chains and to fix the rails and to fix the roads and to fix the air and to fix the water. On top of that, he released product from the Strategic...

In its effort to contain inflation, the Federal Reserve has launched what many expect to be an ongoing series of interest rate increases, which are already taking a toll on stock and housing markets, with job losses likely to follow. As weary as Americans have become from paying record high gas and grocery prices, however, another round of price hikes is making its way through the food supply chain and is expected to reach consumers this fall. “People don’t realize what’s fixing to hit them,” said Texas farmer Lynn “Bugsy” Allen. “They think it’s tough right now, you give it...

Ever since the international community aimed to punish the Iranian regime for its illicit nuclear activities and its support of global terrorism and regional warmongering, Tehran has tried to find ways to sidestep the sanctions regime through money laundering, smuggling and hostage taking. In March 2021, in his new year’s address and three months before installing Ebrahim Raisi as the new president, the Iranian regime’s Supreme Leader Ali Khamenei gave instructions about how to steer the regime away from being vulnerable to sanctions. “Our emphatic advice to the officials of our country, whether those who are now in office or...

PM Netanyahu at Cabinet: I just met US Senate Republican leader McConnell. Over the weekend I spoke with US Senate Democratic leader Reid. » I heard from both of them about strong and continuing bipartisan support for Israel and of course this is very important. » I expressed our concern over the agreement formulated with Iran in the nuclear talks, which appears to confirm all of our concerns and more» Even as meetings proceed on this dangerous agreement, Iran's proxies in Yemen are overrunning large sections of that country, » and are attempting to seize control of the strategic Bab-el-Mandeb...

The U.S. oil industry is divided on whether it could or should contribute to production cuts in an effort to stabilize pricesThe virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the matter told CNBC, amid mounting tensions between Saudi Arabia and Russia. The meeting will now “likely” be held on Thursday, sources said. The Monday meeting was set after President Donald Trump said to CNBC on Thursday that he expected Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman to announce a deal to cut production by up to 15...

It’s been rightly said that “he who holds the gold makes the rules.”After World War 2, the US had the largest gold reserves in the world, by far. Along with winning the war, this let the US reconstruct the global monetary system around the dollar.The new system, created at the Bretton Woods Conference in 1944, tied the currencies of virtually every country in the world to the US dollar through a fixed exchange rate. It also tied the US dollar to gold at a fixed rate of $35 per ounce.The dollar was said to be “as good as gold.”The Bretton...

It was a spooky time to be out at sea off the US East Coast on Halloween in 1991. A strong storm system over the maritime provinces in Canada merged with the remnants of Hurricane Grace, forming a new, epic, and dangerous Nor’easter. The winds of this new storm breached 70 miles per hour and a wave as high as 100 feet was measured off the coast of Nova Scotia, but the storm was not renamed as either a tropical storm or a hurricane – instead, it is known only colloquially as simply the Perfect Storm. Six fishermen from Massachusetts...

Honolulu (HawaiiNewsNow) -- A Hawaii lab has detected a petroleum product in a water sample collected from the Pearl Harbor-Hickam system -- a worrisome finding that comes as the investigation into the source of the fuel-like odor and oily sheen from the water continues. It’s the first confirmation of what military households and other impacted residents have been reporting for days: That their water smells like fuel and has made them sick. But the results also raise more questions, including how much petroleum is present and what kind it is. Environmental Health Deputy Director Kathleen Ho stressed the results are...

If President Trump had been colluding with Russia, the first thing he would have done would have been to cancel the Keystone XL pipeline and otherwise prevent our achieving energy independence. Russia was once described as being a gas station masquerading as a country. Its only commodities of value are weapons and oil. Building Keystone XL and unleashing fracking was Trump’s way of screwing with Putin’s ambitions, not rewarding them. We would have to wait for Joe Biden to collude with Russia on energy by banning Keystone XL and declaring war on fracking. As Helen Raleigh, writing in The Federalist,...