Glen Beck, Fox News and the hoard of far-right amplifiers blame environmentalists for the incredible increase in gas prices. They claim that prices will fall if communities allow more fracking, which also happens to destroy their water! These are straight up lies.
The Obama Administration encouraged fracking across America, which made the US the world’s number one energy exporter. But fracking collapsed in the US before COVID hit because the more they frack, the lower oil prices go. Fracking is unprofitable unless oil prices are over $100 per barrel. In 2019, oil ranged from $50 – $60 a barrel.
After the Ukraine war began, oil prices surged to $130 a barrel. No wonder Beck wants more fracking! He is after all just a shill for U.S. corporations. Since the war, the US, which claims it cannot afford $15 minimum wage or to cover childcare expenses like every European country, has authorized $40 billion in arms for Ukraine. At the same time, it has blocked every attempt at a ceasefire and diplomatic negotiations.
The US goal is to get Europe to drop Russian oil and natural gas supplies and accept US energy instead. Supposedly Europe will build floating liquid natural gas compressors that will be filled with natural gas fracked from the US. Congress has already authorized billions to support this massive infrastructure project. It has all but refused to fund our country’s desperate need for new infrastructure. A major aspect of the war in Ukraine is that it is a war for the control of global energy markets.
But everyone knows that fossil fuel production triggers environmental collapse and climate disaster! And yet the US government wants to increase this production! This is a result of corporate dictatorship in our country. Just like the arms industry and Big Pharma, the Big Oil wants the people of this country to subsidize its profits.
The top five oil companies alone—Shell, ExxonMobil, BP, Chevron, and ConocoPhillips—brought in more than 300 percent more in profits than in the first quarter of 2021. That is a total of more than $35 billion in profits in just three months. This is on top of the subsidies they receive, around $20 billion a year in direct government subsidies.
The Ukraine War has driven up energy costs for every corporation. It has spiked the price of diesel, which is essential for the trucks that deliver virtually all commodities to market. Corporations simply pass these costs on to the consumer – that’s all of us! corporate control of energy is the single greatest force behind the horrific inflation we are seeing.
Government pretends that inflation is somehow an Act of God, something that cannot be avoided like hurricanes and droughts. In fact, it is a policy – a choice – that operates like a hidden tax on working people. Yet this “tax” is sponsored by private industry, not government!
No wonder that 2021 was the most profitable year ever for US corporations!
You can take apart any assertion by fascist-minded stooges like Glen Beck. Once the lies are shattered, we see that their real job is to advance the corporate agenda, not defend the rights of regular people.
