United States Walking on Energy Tightrope as Biden Dumps Money Into Renewables, Warns Expert

The United States is going through a tense situation with regard to energy supply and demand, and the Biden administration is exacerbating the problem, said Jerry Simmons, president of the Domestic Energy Producers Alliance.

In a recent interview for NTD’s “Capitol Report” program, Simmons pointed out that since crude oil is a global commodity, any event that has a global impact will end up affecting prices in the United States. Coming out of the pandemic, many were expecting things to go back to normal. But that has not happened, he noted. Fears of a global recession, and the fact that America is “two quarters into what defines a recession” is affecting commodity markets, including oil.

Crude oil production in the country has been increasing since 2020 following a drop during the initial period of the COVID-19 pandemic. The United States now produces 12 million barrels per day of oil, Simmons said, while admitting that production might be a “little slower” than what some might expect.

On the flip side, crude oil inventories are not doing well, recently falling 6 percent below the five-year average, he said.

“We don’t have a lot of spare capacity out there, you know, a lot of extra crude laying around, if you will, or extra gasoline laying around,” Simmons said. “So it’s a very tight rope that we’re walking right now, with the supply and demand.”

As a large consumer like the European Union seeks to change the mix of where it procures its energy products due to the fallout from the Russia–Ukraine conflict, it will have a “ripple effect worldwide,” he added.

Simmons also criticized the excessive push for renewable energy, indicating mistakes made in Europe. Germany placed a great deal of emphasis on renewable energy sources like solar and wind.

The country ended up paying