As Americans face rising gas prices with the ongoing Israel-Hamas conflict, the issue of energy policy has once again come under scrutiny.
During a press briefing, Deputy White House Press Secretary Karen Jean-Pierre seemed reluctant to address a question on whether the regime’s energy policy could be inadvertently funding Iran-backed terror groups.
A reporter pointed out that under President Trump, the average price of oil was $58 per barrel, while it has risen to $83 per barrel under Biden regime.
“[Under President Trump] the average price of…oil was $58. Under this President it’s $83/barrel. So the price of oil is more. Is that giving Iran enough money to fund these terror groups?” reporter asked.
Karen Jean-Pierre’s response was lackluster and evasive, to say the least. “I wholeheartedly disagree that…our actions is giving…Can you say that again?”
“When you restrict supply here in the U.S. it’s forcing to get the global supply from somewhere else…Price of oil goes up…As the price of oil goes up, is that giving Iran enough money to fund these terror groups?” the reporter responded.
Jean-Pierre deflected and characterized the query as a “hypothetical.”
“It seems to be a big jump…I’m just not gonna weigh into a hypothetical here,” she said.
WATCH:
REPORTER: “[Under President Trump] the average price of…oil was $58. Under this President it’s $83/barrel. So the price of oil is more. Is that giving Iran enough money to fund these terror groups?”
KJP: “I wholeheartedly disagree that…our actions is giving…Can you say… pic.twitter.com/V288MWHWam
— Daily Caller (@DailyCaller) October 24, 2023
According to the Free Beacon, Since the Biden administration assumed office and eased sanctions on Iran, the hardline regime has generated approximately $80 billion through unauthorized oil sales. This influx of capital has enabled Tehran to financially sustain its allies in terror activities, such as Hamas.
“Iran has generated approximately $80 billion in revenue from oil sales under the Biden administration,” according to Claire Jungman, chief of staff at United Against a Nuclear Iran, a watchdog group that closely tracks Tehran’s illicit oil exports and arsenal of tankers. A large portion of this oil is shipped into China, which counts Tehran as one of its top patrons.
Iran’s oil exports have hit a five-year high due to the Biden administration’s decision to relax economic sanctions as part of an effort to cajole Tehran’s hardline regime into inking a revamped version of the 2015 nuclear deal. This revenue, analysts say, has enabled the hardline regime to funnel cash to its regional terror proxies, most notably Hamas, which is currently waging an unprecedented war on Israel with Iran’s backing. Iran is reported to have helped plan Hamas’s weekend attack and given the terror group the go-ahead to conduct it, according to the Wall Street Journal. Hamas officials have also publicly stated that Tehran provided support for its surprise invasion.
“With the resurgence of Iran’s primary revenue source, oil, into play, it’s paramount to recognize the substantial financial leeway they’ve gained through years of relaxed sanctions,” Jungman explained. “This surplus not only sustained them but also significantly fortified their proxies,” such as Hamas in the Gaza Strip and Hezbollah in Lebanon.
The Biden administration’s policies toward Iran are under renewed scrutiny in light of Hamas’s weekend attack. In addition to allowing Iran access to billions in oil revenue, the United States released $6 billion in frozen funds as part of a hostage deal last month, money that experts say helped Tehran keep its funding for terror groups on pace. Around $10 billion more was made available to Iran earlier this year, when the administration waived sanctions so that Iraq could pay Tehran for electricity and other debts.
The U.S. has vast reserves of oil and natural gas during the Trump administration, and technological advancements have made it more cost-effective to extract these resources. Under President Trump, the emphasis was on domestic production, thereby reducing dependence on foreign sources.
However, the Biden regime released a record-breaking 180 million barrels this year from the SPR. According to the US Energy Information Administration, the SPR held about 638 million barrels of oil when Biden took office in January 2021. It has dropped to its lowest level since October 1983 today, at 362 million barrels.
“DOE is committed to executing an SPR replenishment strategy that provides the best deal for taxpayers— aiming to repurchase crude at a lower price than the average of about $95 per barrel it was sold for in 2022, while strengthening energy security by providing certainty to the industry in a way that helps encourage near-term supply. DOE intends to purchase more oil later this year,” according to the statement.
Recall, Joe Biden wanted to fill the Strategic Reserves with $80 per barrel oil. Just three years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24 per barrel.
On his first day in office, Joe Biden killed off 42,100 jobs by ending the construction of the Keystone XL Pipeline.
After Biden destroyed America’s energy independence, gas prices have risen to historic heights. Biden/Obama’s answer has been to go overseas for oil rather than allow Americans to drill for oil in the US.
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