Biden’s ‘Kind Of Insane’ Energy Policies Have Created An Entirely Rational Investor Response

Biden’s ‘Kind Of Insane’ Energy Policies Have Created An Entirely Rational Investor Response

Share to Linkedin WASHINGTON, DC - MAY 13: U. S. Vice President Kamala Harris delivers opening remarks during a plenary ... [+] meeting with Association of Southeast Asian Nations leaders and (L-R) Energy Secretary Jennifer Granholm, Transportation Secretary Pete Buttigieg and National Security Advisor Philip Gordon in the Loy Henderson Room at the State Department on May 13, 2022 in Washington, DC. Focusing on trade, human rights and climate change, Harris addressed the ASEAN leaders during a two day summit in Washington. (Photo by Chip Somodevilla/Getty Images) Speaking at the Boston Globe's Globe Summit on September 15, former Obama administration Economist Larry Summers said this about current U. S. energy policy: "It's kind of insane that we have truck and trains carrying oil all over this country, rather than constructing pipelines, which would permit accessing more resources and cheaper, safer transmission." Yes, it is kind of insane that regulators in the United States continue to hamper the domestic oil and gas industry by forcing it to move such large volumes of oil via trucks and trains. There is nothing inherently wrong with these modes of transportation, mind you: It's just that they are less efficient, more expensive, more dangerous and