We’re paying too much for gas. President Biden should rethink his disdain for oil | Opinion

People, of course, are concerned about the huge increase in gas prices and every negative thing that comes with it. It’s emptying out Americans’ wallets and is a major problem for our nation’s economy.

Obviously, we all are asking: Why in the world are we paying so much for gas when we are the No. 1 oil producer in the world? When U.S. oil production is cleaner than most other major energy producers?

A couple of years ago, according to Statista, our production hit 16.5 million barrels a day, making the United States energy-independent from all other countries. Unfortunately, we are drilling less oil than before the pandemic; and President Biden canceled the Keystone pipeline.

With the Russian invasion of Ukraine, Biden blames everything on the war and even considered easing U.S. sanctions on Venezuela in exchange for oil. Basically, we would negotiate with a government that has violated human rights and that is supported by the communist regime of Cuba. This idea made absolutely no sense, and even members of the president’s own party, such as U.S. Sen. Bob Menendez, criticized it.

Miami-Dade residents are paying an average of $4.901 a gallon for premium. Worse, gas prices are expected to increase. Americans see their economy suffering, not only because of the huge increase in gas prices, but because, over the past year, inflation jumped 7.9%, a 40-year high.

Obviously, with the crisis in Ukraine, the oil situation is getting worse. Biden’s sanctions against Russia are mostly symbolic since we import less that 10% of our oil from that country. But they have, in turn, affected the global market, making prices surge.

The oil crisis has been a long time coming. The oil production was slashed during the COVID pandemic, creating a lag in production now. It does not help that Biden has made it clear that he wants to decrease oil companies’ incentive to pump more oil.

It is understandable that he wants to move Americans toward more sustainable energy, but this solution hurts the pockets of consumers. Ultimately, the full effect of Biden’s policies won’t be seen in the short term, but for right now, it does not help that other challenges, such as a weak supply chain, decreases in personnel and scared investors, also make securing oil so difficult.

Many people believe that electric cars are the solution, and they would be if they were more affordable. However, a single charge at a public charger for an electric car can range from $20-$45, not to mention the high prices of electric cars themselves.

Even for consumers who are well off financially, the transition to electric cars seems to be moving too slowly. Whether out of laziness, complacency or sheer disregard, too many of the bureaucrats who preach about saving the environment might not even have an electric car — and many use private jets.

So, if the goal of this “no oil” crusade is to create a domino effect that pushed Americans to use more electric vehicles, the government or the private sector needs to make it more affordable. For now, the cost of switching is not a price that most people can pay, even with unbearable gas prices.

We obviously need to ease the burden on the environment, but not at the expense of people’s livelihoods. We can also hope that a more-affordable electric alternative will come onto the market soon.

In the meantime, our government and the president should reconsider their disdain for oil and encourage pumping, if only to save us, for now.

Liliam M. Lopez is the founder of the South Florida Hispanic Chamber of Commerce and the South Florida Hispanic Chamber of Commerce Foundation.

This story was originally published March 25, 2022 at 3:59 PM.