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https://asiatimes.com/2021/10/gobbling-chinas-exports-us-sinks-into-dependency/

China’s exports rose 28% in September from the year-earlier level, more than the analyst consensus had forecast. More important is that China’s exports to the United States have risen by 31% since January 2018, when President Trump imposed tariffs on a wide range of US imports from China. At a seasonally adjusted annual rate, the US is buying $635 billion of Chinese goods, equal to a staggering 27% of US manufacturing Gross Domestic Product.

During the same period, China’s exports to South Korea rose by 50%, to Taiwan by 60%, and to Germany by 61%, but China imports almost as much from these three countries.

Demand for Chinese goods after the pandemic disruption has strained China’s production capacity, contributing to a power shortage that is now forcing cutbacks in key industries, including computer chips.

https://justthenews.com/politics-policy/energy/tugas-prices-seven-year-high-and-rising-biden-offensive-against-domestic-oil

“Average gas price: June 2020: $2.21 June 2021: $3.07 President Biden’s economy!” Rep. Jim Jordan (R-Ohio) tweeted during the summer. 

“You forgot to mention that gas prices are the same now as they were in June 2018,” White House Press Secretary Jen Psaki fired back. “Or that this time last year unemployment was 11.1% — today it’s 5.8%. @POTUS agrees families shouldn’t pay more at the pump — that’s why he’s opposed to GOP proposals to raise the gas tax.”

Yet, the Democrats’ $3.5 trillion budget reconciliation bill reportedly includes an estimated $6 billion worth of charges on U.S. oil and gas operators on federal lands, which could effectively put mom and pop small business, and minority and Native-owned operations out of business, in addition to killing tens of thousands of jobs.   

There isn’t enough oil and gas supply to meet U.S. demand, due to a combination of factors, including the Biden administration halting new leases on federal land, halting the Keystone Pipeline, increasing regulatory burdens, and other measures that will take years to correct, those in the industry argue.

In one of his first acts in office, President Joe Biden, through executive order, halted the issuance of new oil and gas leases on federal lands, effectively stopping much production for existing operations. He also eliminated low-cost Canadian crude from being processed by mid-continent and Gulf Coast and U.S. refiners by prohibiting the Keystone pipeline from opening. 

If Biden had not severely hampered domestic production, the U.S. would have an ample supply of oil and gas and commensurately lower costs at the pump, industry experts argue. 

The $6 billion in additional costs imposed on the industry included in the budget reconciliation bill include new methane fees, inspection fees, severance fees, and bonding requirements, as well as additional requirements for operating on federal lands.