Local fuel prices: A crude (oil) awakening to our energy dependence, says expert

Energy consultant Ronald Stein connects California’s exorbitant gas prices with Gov. Newsom’s longtime efforts to kill local fossil fuel production, which have necessitated over 60% dependence on foreign countries’ crude oil. Further, Newsom’s anti-fossil fuel agenda manufactures shortages and hikes up residents’ gas/electricity costs. Barring legislative reform, high fuel prices “may be the new norm.” To receive daily updates of new Opp Now stories, click here.

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All the products that we use in our daily lives, and all the fuels we use in our daily lives, are manufactured from crude oil. Limiting the supply of crude oil to meet those increasing demands is a guarantee for shortages and inflation. Just in California, we’ve got 35 million registered vehicles, and we’re consuming 50 million gallons of fuel [per day]—gasoline and diesel…

Our Sacramento leaders, from Governors Brown, Schwarzenegger, and now Newsom, have been driving down our oil production in California to the point that we’re importing most of it from foreign countries. 30 years ago, we were pretty much self-sufficient, providing 95% of our needs and just requiring 5% from foreign countries. Today, with oil production down and going down further, we’re now importing more than 60% of our oil demand needs daily. And with crude oil being over $100 a barrel, that is costing California $150 million a day, every day being paid to foreign oil-rich countries—depriving Californians of jobs, business opportunities, and drivers to pay these kinds of prices. And still, Newsom wants to continue reducing oil production in California, which would further increase the imports from foreign countries.

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Simply put, under the current leadership by Biden and Newsom to continuously reduce the supply of oil to meet the increasing demands of all the products and fuels required by society, we’re supposed to have shortages and inflation. And these prices may be the new norm.

Watch the whole thing here.

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Image by Orin Zebest