(The Epoch Times)—In a little-noticed statement slipped out on Jan. 26, the Biden administration pulled another plank out from under America’s energy security and future prosperity. Declaring the climate crisis “the existential threat of our time,” President Joe Biden announced that his administration was imposing a “temporary pause on pending decisions of liquified natural gas (LNG) exports.”
In other words, the administration—which was already slow-walking energy regulatory approvals—is simply not going to green-light any new LNG project, including any new terminals, any new capacity expansion or upgrades, or any new export licenses, for the foreseeable and indeterminate future.
This decision, intended as a political concession to the radical progressive wing of the Democratic Party, further undermines U.S. energy independence. The action freezes the industry and effectively paralyzes any potential future investment toward the growth, development, and productive enhancement of a critical energy resource.
The knock-on effect of this will be higher future energy costs for American businesses and consumers and a weakening of the U.S. energy industry. The “pause” deters foreign buyers in Asia and Latin America from considering the United States as a reliable supplier for their growing LNG demand, hurting our export economy. More consequentially, the move strengthens the hands of our global energy competitors and potential adversaries, including China, Russia, and Iran. It is a total folly.
The Biden administration has been at war with American energy independence from day one. In pursuit of a quixotic dream of zero emissions and complete migration from fossil fuels to renewables, one of the administration’s first actions (literally on President Biden’s first day in office) was to issue an executive order canceling the Keystone XL pipeline project, which, in addition to creating tens of thousands of American jobs, would have safely and cleanly delivered more than 800,000 barrels of oil per day from Alberta, Canada, to U.S. refineries at low cost.
Previously approved oil and gas exploration and development leases in the Arctic were suspended on grounds of “deficiencies” in paperwork and process, and all work ceased. Regulatory agencies were given clear instructions to unleash the Kraken of bureaucratic red tape, ensuring that applicants would suffocate under the constriction of its tenacles—new approvals ground to a halt. Even before last week’s decision, LNG export applications processed by the Department of Energy took nearly a year to receive approval, compared with an average of less than two months under the former Trump administration.
Starting in November 2021, the Biden administration began to drain the U.S. Strategic Petroleum Reserve (SPR), which by January 2023 had lost 265 million barrels of oil and which even to this day sits at less than half capacity. Just a few months ago, in September 2023, the Biden administration reversed Trump-era approvals and permanently canceled seven oil and gas leases in Alaska.
All of this begs the question, why would any company, entrepreneur, or debt-financing provider be willing to risk investing capital in an environment in which billions of dollars of work can be flushed down the toilet with the administrative stroke of a pen? The answer is obviously that no one would, and that is precisely the intended result of the Biden administration’s short-sighted actions. These complex projects take years to complete, not to mention the cost involved. Even with a new, energy-friendly administration, the risk of policy reversal—witnessed firsthand with the Trump–Biden transition—will hang like a dark and foreboding cloud over future investment decisions.
This latest blow against American energy independence comes at a time when U.S. inventories of West Texas Intermediate crude oil in Cushing, Texas, have fallen to their lowest seasonal level in a decade. U.S. refinery capacity remains nearly 1 million barrels below pre-pandemic levels. U.S. oil rig counts are down by 110 from a year ago, and production is at its lowest level since June 2023. The SPR is at its lowest level since 1985. These are all warning signs that are being largely ignored. Energy was one of the biggest drivers of inflation in 2022. While energy prices have fallen in recent months, it is dangerous to grow complacent.
The world watched anxiously last winter as Europe nearly froze after Russian gas supply to the continent was cut off. It was U.S. LNG that came to the rescue. Europeans suddenly woke up to the dangers of reliance on foreign suppliers for their energy needs. The U.S. government seems to find nothing worthwhile to learn from Europe’s experience. But just who will come to America’s rescue if our oil and gas industry falls into disrepair and neglect? China? Iran? Saudi Arabia? Qatar? While they are all investing in and expanding their energy industries and export capabilities, they are not doing it for the sake of America’s economy or its people.
We are devouring our children’s future.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.