As if stepping into a time machine, Americans last month were rocked with growing inflation, rising consumer prices, stagnating unemployment numbers, and long lines at the gas pump reminiscent of the days of the Carter administration. If Blondie was on the radio, you’d think it was 1979 all over again.
Many Americans are old enough to remember the twin oil crises that catastrophically disrupted energy supplies throughout much of 1970s. For the younger generation, last month’s fuel shortage offered a stark glimpse at how dire things can get when the pump unexpectedly runs dry.
On May 7, 2021, a cybersecurity breach in the now-famous Colonial Pipeline crippled the American energy supply chain for several days – leading to fuel shortages up and down the East Coast and leaving many of us wondering: how could this happen again?
To answer that question, we need only look back to President Biden’s first actions upon taking office.
In his first week as president, Joe Biden canceled the Keystone XL Pipeline, rejoined the disastrous Paris climate accords, and placed a ban on all new oil and gas leases on federal lands. Taken in sum, these