Saturday, October 1, 2022

Joe Biden: the candidate to deal with the energy problem

Democrats holding up Joe Biden’s presidential ambitions would do well to consider this — he may be the only one in the 2016 field with an immediate practical solution to dealing with a de-regulated, trillion-dollar a year monster of an energy market.

Biden, a former chairman of the Senate Foreign Relations Committee and longtime Senate insider, knows the issues in far more detail than his 2016 rival Elizabeth Warren.

And he has the warmest relationship with the Israel Lobby in Washington, and one of the strongest standing with Jewish voters in America. For these reasons, the current trade stalemate with China is Biden’s to solve — if he really, truly wants to be president.

The White House seems to be dealing with Xi Jinping in a way that will undercut U.S. leverage with China and probably weaken its hand domestically. The current windfall profits given to America’s biggest energy companies outpace the taxes they owe U.S. consumers in gas and electricity. And the big time subsidies for offshore oil producers and the lack of oil refinery capacity in the U.S. are contributing to artificially high gasoline prices on the retail level.

Iran, Egypt, Saudi Arabia, Turkey and Russia have undercut U.S. alliances and pushed back against American efforts to isolate ISIS, North Korea and Russia. And the biggest threat of all comes from ISIS forces that the United States hasn’t been able to target effectively in any significant quantity since Obama withdrew U.S. ground forces in 2011.

Without Biden’s financial and intellectual heft, the dysfunction in the White House could end up significantly undermining the future of the next administration’s foreign policy objectives.

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