Jun 28, 2022 3 min read

After declaring that he is not an economist and has little background in economics, Gary Stout was undeterred from producing a lengthy opinion piece on inflation economics in a June 19 op-ed in the Observer-Reporter. Among other things, he states that of all the price increases contributing to our current inflation, gas and food prices are the two over which the Biden administration has least control.

This suggestion is simply an attempt to sugar-coat the abysmal performance of the Biden administration and excuse its responsibility for the current burdensome inflation being driven by exploding energy prices.

Common sense suggests that Biden’s administration could exert considerable control over gas and food prices if it was so inclined. It could establish rational energy policies that would stem the inflation that is weakening our nation and leading our economy into recession. Biden could:

• Reverse his cancellation of the Keystone Pipeline contained in Executive Order 13990 and negotiate with Canada to supply U.S. refineries with dependable supplies of oil.

• Reverse last month’s cancellation of the lease opportunities for oil exploration and production in the one million acres of Cook Inlet, Alaska.

• Instead of invoking the Defense Production Act for solar panels, use it to accelerate construction of pipelines, refineries, and nuclear energy production.

• Instead of accusing oil companies of profiteering, signal them in speeches and actions that the planning horizon for switching to “green energy” is 20 to 30 years in the future rather than within the short life of the current administration. Allow them to see that their investments in fossil fuel production will bear fruit while contributing to a reasonable transition to alternative sources of energy.

• In talking about the 9,000 leases available to oil companies, state that his administration plans to loosen its onerous regulations that govern obtaining “permits” for those leases and thereby encourage lease development.

• Act like the president of the United States, take responsibility for what he has done, stop blaming everything on others, and don’t go groveling to Venezuela, Iran, and Saudi Arabia for oil his own country can produce.

During the debate season in 2020, Candidate Joe Biden clearly signaled how badly he wants to end our nation’s use of fossil fuel. “No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends.” His urgency brings to mind the old adage, “if you want it bad, sometimes you get it bad.” And we certainly are getting it bad.

Steve Johnson

Washington