From the moment Joe Biden entered office, he’s championed one of the most extreme environmental policies ever seen. He immediately suspended leases for drilling on federal land. That led to a massive spike in energy prices, made only worse when Russia invaded Ukraine.
Despite outrage from American consumers, Biden has done virtually nothing to lower gas prices permanently. His administration has admitted it is trying to force consumers to switch to “green” tech.
After all, he said during the 2020 Election that he intends to “end” America’s use of oil and natural gas. Well, if that is his ultimate goal, it looks like he’s failing terribly. And this news of a major merger only seals Biden’s fate.
From Just the News:
Diamondback Energy is merging with Endeavor Energy Resources, a privately held company. The buyout is the latest in a frenzy of mergers that began in October, and analysts say it’s reflective of a matured shale industry and a long-term bet on oil and gas demand…“No one in the industry believes the stranded asset theory, and you see it today in OPEC’s demand forecast, and very strong demand for the foreseeable future, really, for decades to come,” Blackmon said in an interview.
A massive merger is taking place between private oil and gas companies. Diamondback Energy is merging with Endeavor Energy Resources in a move that is worth $8 billion. The move is being discussed by analysts as a sign that oil and natural gas demand will only grow.
In fact, a push for more EVs, bitcoin, and data centers is only increasing demand for fossil fuel. Industry experts believe there will be “strong demand” for oil and natural gas “for decades to come.”
This flies in the face of Biden and Democrats’ aggressive plans to shut down fossil fuels. Some liberal-run states are outlawing the sale of gas-powered cars in a matter of years. And Biden has thrown billions at “green” sources of energy, which many explain cannot meet energy demand.
Biden’s plans to force Americans to switch to green energy have failed. Major car companies have stopped betting on the EV market. Attempts to build more wind turbines and other alternative sources have not resulted in the green utopia Biden promised. And aggressive moves to “end” the fossil fuel industry in a decade or so appear completely detached from reality.
When industry experts are predicting more demand and making huge mergers to secure a profitable future for their companies, there is little fear that Biden’s green scheme is going to work.
Key Takeaways:
- Major mergers in the fossil fuel industry reveal Biden’s green agenda has failed.
- Experts believe demand for oil and gas will only grow in the coming decades.
- Biden has spent billions to “end” fossil fuels by pushing EVs and green tech.
Source: Just the News
