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Under Biden. U.S. has addressed energy crisis, inflation

n a recent letter, "Venezuela is a bizarre piece of incoherent energy puzzle," the writer stated: "I find the current energy sanctions relief for Venezuela a very puzzling part to Biden’s energy policy.”


In addition, the letter writer stated: "The Biden administration misguidedly wants to prevent new oil infrastructure and investments that would ‘lock in’ any future domestic production of energy that would hinder the president’s green agenda!"


This is what right-wing media sources are trolling, but it is simply a distortion of the facts.


First, let's look at the Venezuelan deal that President Biden signed with Venezuela's government (President Maduro) and its opposition faction (led by U.S. backed Juan Guaidó). Venezuela agreed to create a U.N.-managed fund to finance health, food, and education programs for the poor in return for Biden easing some oil sanctions allowing California-based Chevron to pump Venezuelan oil; a good step toward restarting talks between the sides along with the release of seven imprisoned Americans in exchange for two nephews of Maduro's wife (last March).


About $3 billion is expected to be directed toward the fund.


"The agreement over the social fund is part of a broad agenda that is expected to advance in December, including the conditions for the presidential elections that are supposed to take place in 2024, the release of political prisoners and the withdrawal of decisions that bar many politicians from running for office."


With additional context, the Agreement looks like a coherent deal that not only helps the people of Venezuela but brings in additional oil to the U.S. to help reduce gas prices.


And second, while Biden certainly has a “green” agenda to eliminate net carbon emissions by 2050, wean the country off dirty sources of energy and “end fossil fuel,” Biden's Inflation Reduction Act also reinstated Lease Sale 257, a massive offshore oil and gas sale spanning 80.8 million acres across the Gulf of Mexico and generating $191 million in bids.


And Biden is about to sign off on a huge Alaska oil drilling project (the Willow project). This project would produce 180,000 barrels of oil each day, create $10 billion in tax and royalty revenues, and create 2,000 construction jobs and 300 permanent ones. Alaska Natives are overwhelmingly in support of the project.


Under Biden's leadership, the U.S. has addressed the energy crisis, inflation, the pandemic, and Russian aggression.


Ronald Berg

Hernando

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