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The Unintended Consequences of Biden’s Climate Agenda

Posted on October 18, 2023October 18, 2023 by admin

The White House, CC BY 3.0 US, via Wikimedia Commons

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed John D. O’Connor.

When Joe Biden ran for his party’s presidential nomination, he cut a deal with Progressives to push an unprecedented climate agenda, and ran unapologetically on it. So when he was elected amid his promises to stop drilling leases on federal lands, offshore exploration, and pipeline approvals, the only likely downside his advisors likely anticipated was a rise in pump prices, which in fact environmentalists welcomed. But few on Biden’s team understood the overall inflationary pressures of a decline in oil and gas supply, upon which the price of every item depends. More significantly, they did not envision how high oil prices, which are caused by predictions of future supply constriction, would finance Russia’s invasion of Ukraine or Iran’s sponsorship of terrorist initiatives. But with windfalls of $100 billion and $30 billion annually for Russia and Iran, respectively, each country has much financial wind at their backs. In an effort to ease pump prices, Biden has silently eased sanctions on Iran, causing its present ramp-up in production by a million barrels per day. Finally, as American borrowers pay more than twice as much for a mortgage as previously, and the price of government borrowing in two-year Treasury bills has tripled, the financial ability of the U.S. to help Ukraine and Israel is profoundly compromised.

Is there a benefit to this extreme cost? Not in light of current developments in climate science, which show the amplification effect of CO2 to be far more modest than modelled by scientists at the beginning of alarmism. So we face extremely negative consequences from our climate policies with little in the way of benefits.

Kevin Price introduces Price of Business show recurring guest, John D. O’Connor. O’Connor was the famed attorney of Watergate’s “Deep Throat. 
According to PostGateBook.com “O’Connor served as an Assistant U.S. Attorney in Northern California from 1974-1979, representing the United States in both criminal and civil cases. Among his interesting assignments have been representation of the government during the OPEC oil embargo of the 1970s; writing Fifth Amendment and “state of mind” briefs for the prosecution in United States v. Patricia Hearst; representing the FDIC, FSLC and RTC during the savings and loan crisis of the late 1980s and early 1990s; representing California Attorney General Dan Lungren in campaign-related litigation; defending R.J. Reynolds Tobacco in significant smoking and health litigation; representing Coach Don Nelson in litigation with Dallas Mavericks owner Mark Cuban; and representing W. Mark Felt regarding the revelation of his identity as Deep Throat.”

Check out more national news stories here. 

 

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