Biden's approval rating hits career low, economy continues to worsen: Bret Baier
Bret Baier joins 'America Reports' to provide details on President Biden's State of the Union address as he hits his lowest approval rating of 37%.
Politics is inherently a game of numbers. As it sputters into year two, the Biden presidency has been defined by two troubling and related statistics: approval ratings and energy costs.
Let’s break down both. President Biden took office with the support of 55% of Americans. A recent ABC News/Washington Post survey puts that number at 37%.
Meanwhile, the national average for a gallon of gas was $2.42 in January 2021. Today, it’s topping $4 – an increase of 66% – while oil is trading at a 13-year high of $130 a barrel. Both numbers are poised to spike even higher as the war in Ukraine rages on.
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A culmination of events brought us here, and the way out is also multifaceted. One thing has become abundantly clear: bad policies carry real-life implications. They go beyond esoteric textbook debates over ideology. An advanced degree in economics is not required to understand that constricting supply with sustained demand translates to higher prices.
Actions by the Biden administration have unquestionably decreased American energy supply. He has made it more difficult for energy producers to obtain new oil and gas leases and permits on federal lands and in the Gulf of Mexico. He has slowed down the permitting process of pipelines and energy infrastructure, including canceling the-oft-discussed Keystone XL pipeline. Biden has championed the green scheme at an unsustainable pace, pushing for half of all vehicles in this country to go electric by the end of the decade.
But the problem extends beyond just policies. It goes to priorities. Biden and crew have demonized energy producers as untrustworthy villains responsible for the problem.
The president made many promises to the environmental left on his road to the White House.
In November, the President ordered an investigation by the Federal Trade Commission (FTC) into, "anti-consumer behavior by oil and gas companies." During a farcical Democrat-led House Oversight Committee hearing last fall, U.S. Rep. Ro Khanna D-Calif., had the gall to ask, "Are you embarrassed as an American company that your production is going up while European counterparts are going down?"
Khanna is correct on one point. Europeans have moved away from traditional sources of energy in favor of renewables. Germany moved to eliminate its nuclear and coal capabilities altogether. But when these green forms of energy fall short, it’s fossil fuels to the rescue. In fact, the European Union is the largest importer of natural gas in the world, with almost half (41%) coming from Russia.
Because of their ill-advised rush to go green, Putin holds the fate of Europe’s energy in his hands. If Khanna is looking for something to be embarrassed about, he should start there. No wonder the latest sham hearing targeting energy producers has been delayed for a second time.
Ironically, through its actions, the Biden administration demonstrates they know more energy supply is desperately needed. When pressed on consumers’ pain at the pump, they point to releasing barrels of oil from the Strategic Petroleum Reserve. Last fall, Biden authorized the release of 50 million barrels. This time, it was 30 million.
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For context, the U.S. goes through 18 million barrels each day. Talk about re-arranging the deck chairs on the Titanic. Same with the silly one-time gas tax holidays proposed by vulnerable Democratic senators.
The administration has asked the Saudi Arabia-led OPEC to pump more oil. They are even traveling to Venezuela, a Russian ally with the largest oil reserves in the world, to explore re-starting negotiations. Trading oil with Iran is "on the table." No word on how oil from the Middle East or brutal dictators is any better for the environment than domestic energy, and therein lies Biden’s true dilemma.
The president made many promises to the environmental left on his road to the White House. In return, the green industry shelled out a record-setting $11.1 million to his campaign. But now the cold hard reality of governing is colliding with pie-in-the-sky ideas.
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It was no accident that Biden’s first State of the Union address was conspicuously light on climate talk, and not just because of the ongoing war in Ukraine. Green policies have driven energy prices up and Biden’s poll numbers down.
If he doesn’t reverse course soon, there is a third set of concerning numbers coming rapidly into view: the midterm elections. That should be a terrifying thought for every Democrat facing voters this fall.