Joe Henderson: Lowering gas prices could require deals we don’t want to make

Oil
When it comes to high gas prices, the moral high ground can get slippery.

Pretend you are sitting behind the Resolute Desk in the Oval Office of the White House for a moment. You see gas prices rise at the same rate as Americans’ angst, and you recall those famous words from political advisor James Carville: “It’s the economy, stupid.”

What would you do?

This question is especially important to a big state like Florida. For decades, leaders have treated the idea of mass transit with the same disdain for which Gov. Ron DeSantis treats facemasks.

Floridians love their cars, and if they can’t afford to drive them, that’s bad. The state’s average price for a gallon of gas just topped $4, which is really bad.

Anyway, as Russia continues its war crime against Ukraine, lawmakers have seized the moment to make their point. The U.S. imports about 1.4% of its crude oil from Russia, and some are making the case that percentage should be zero.

By the way, the U.S. domestically produces 128 barrels for every one Russian barrel it imports. That doesn’t sound like a lot, does it? However, any disruption now will send prices higher.

Sen. Rick Scott and House Speaker Nancy Pelosi appear to agree on something, when is the last time that happened?

Scott tweeted, “I’ll say it again: no American company should be doing business in or with Russia. It’s disgusting that Wall Street investors are putting profits over the free and innocent people of Ukraine, and I urge them to immediately stop propping up any Russian business.”

Presumably, he includes U.S. companies that import oil from Russia in his blanket statement.

Pelosi added, “I’m all for that. Ban it. Ban the oil coming from Russia.”

The U.S. House is working on a bill to require that, and it probably will pass.

Meanwhile, back behind the Resolute Desk, it’s your job to come up with a solution that brings gas prices down and your approval ratings up. And if you stop even that small amount of imported oil, prices will climb, and your approval numbers will make Donald Trump’s look good by comparison.

Venezuela is a big oil producer, but we stopped doing business with them in 2019 when Trump imposed sanctions because of — oh, the irony — election fraud by strongman Nicolás Maduro.

A U.S. delegation just went to Venezuela to talk about allowing oil imports again from there. Scott and Sen. Marco Rubio are two of Maduro’s most vocal critics, but Venezuela has the oil, and America needs it.

Iran has lots of oil too, but it’s complicated. After Trump withdrew from the nuclear agreement President Barack Obama negotiated with Iran, oil imports from there plummeted. There is talk about working a deal with Iran but estimates it could take well into the summer before we’d notice any relief.

All right, Mr. President, would you do business with Iran and Venezuela?

Scott, Rubio, and the whole Republican Party would go berserk, not to mention DeSantis. They would accuse Biden of cozying up to dictators, but the moral high ground gets slippery at times.

Oh, just reauthorize the Keystone Pipeline, right? Biden shut down the pipeline’s construction before it was completed, but couldn’t he start it up again?

Well, it’s too late for that. After Biden canceled the permit for Calgary-based TC Energy to transport oil in the pipeline, the company said it would dismantle its equipment.

Meanwhile, gas keeps costing more, which means consumers have less money to spend on other things.

Biden could deal with several devils, inviting invectives from critics, or try to ride it out and gamble that the situation will ease.

Two bad options, one unholy mess, and the stock market fell by more than 800 points Monday after oil hit $130 a barrel.

Well, he wanted the job.

Joe Henderson

I have a 45-year career in newspapers, including nearly 42 years at The Tampa Tribune. Florida is wacky, wonderful, unpredictable and a national force. It's a treat to have a front-row seat for it all.


2 comments

  • Antonio

    March 7, 2022 at 11:22 pm

    Or we could open up drilling again. Maybe work on opening some pipelines as well. Call me crazy, but depending on ourselves seems like a better option than depending on other countries.

  • Tom

    March 8, 2022 at 5:57 am

    Joe. Biden wanted the job. He says he was more qualified, which he clearly is not. You make it sound like he’s a victim. He approved the nord steam oil deal, sounds like collusion.
    How much incompetence is tolerated?
    We are seconds from nuclear war, thanks to his foreign debacles in Afghan & Ukraine. He’s destroyed the economy, gas oil prices, and created runaway inflation 7.5% to 9%, wiping out salary increases.

Comments are closed.


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