Varney: Your electric bill is going up – a lot
Energy prices surge under the Biden administration as calls to increase production rise
Stuart Varney: Your electric bill is going up 'a lot'
FOX Business host Stuart Varney argues the Biden administration is "still opposed to fracking and pipelines" despite surging energy costs for Americans.
In his latest "My Take," "Varney & Co." host Stuart Varney warns of skyrocketing electric bills as the Biden team seeks to please the climate crowd's green energy demands.
STUART VARNEY: I've been hearing from my relatives in Britain. They're not happy. Their electricity bills have doubled in the last two months.
They are paying the price for the U.K.'s ultra-green policies. Britain is very green. It prides itself of being in the vanguard of the climate fight. Now they've got to pay for it.
Same here. Your electric bill is going up, a lot. It varies from state to state, but in New England, New York and California, you're looking at a nasty spike. We are paying the price for the climate crowd's green dreams.
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The difference between the U.K. and America, is that they, over there, are doing something about it. They know they need more fossil fuel, so they're going back to coal, going back to oil and gas exploration and extending the life of nuclear power plants.
There is no such policy reversal here. The Biden team is still opposed to fracking and pipelines, and still makes the drilling permit process onerous in the extreme.
Instead, the greens, like Sen. Bernie Sanders, want a windfall profits tax on the oil companies. Just like Jimmy Carter 40 years ago. As if that would make any difference to the supply of energy!
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Two weeks ago, the Wall Street Journal suggested a question for President Biden:
"Mr. President, will you do everything in your regulatory power to make it easier for American companies to produce more oil and gas?"
The answer to that question, if it were asked, should be: Yes, in this emergency, we'll do everything we can.
But so far, the Biden energy team has done nothing.
Check your electric bill, you're not going to be happy....