Who is Responsible for Current Oil Prices?

Nothing much to see here, just a misleading meme designed to trick the gullible into believing that Biden is responsible for the high fuel prices.

I’ll cover it point by point for those who are open to the truth.

Who Shut Down the Keystone Pipeline?

Nobody. It was never shut down. It has been in continuous operation since 2010.

The meme is probably referring to the Keystone XL.

TC Energy Corporation, which owns the existing Keystone pipeline, proposed the Keystone XL. That one would have started in in Alberta, Canada, joined the existing Keystone pipelines at Steele City, Nebraska, and from there, the oil would have moved on to the Gulf Coast refineries.

The project went nowhere. Indigenous peoples in Canada and the US staged massive protests. Nebraska landowners refused the permission needed for pipeline easements on their properties. Lawsuits were filed.

Biden finally revoked the federal permit for Keystone XL on January 20, 2021. And why not? It was just costing taxpayers millions in lawsuits and nothing was being accomplished.

To anyone who thinks the Keystone XL should have happened, consider this:

This pipeline was going to be used for transporting tar sands oil (diluted bitumen and synthetic crude). It’s a low grade oil, which was going to be exported to China, because we have little use for it here.

If the Keystone XL had come into being, it would not be helping our current gas prices. Being angry that it doesn’t exist is pointless.

Who Shut Down Offshore Drilling?

Nobody.

Biden attempted to use the powers granted him by the Outer Continental Shelf Lands Act of 1953 to restrict future offshore drilling permits, but a federal court blocked his efforts.

However, not only did Biden not try to stop ongoing offshore drilling operations, but total U.S. crude production (on- and off shore) hit a record high while he was in office.

For that matter, Biden issued a record number of domestic drilling permits. The United States was producing more oil than any other country while he was in office, and the trend is continuing.

Who Shut Down the Drilling In Alaska?

Nobody (this word is getting redundant).

Biden restricted drilling in some Alaskan areas but approved the ConocoPhillips’ massive Willow oil project in 2023. None of the active drilling sites were shut down, and therefore no existing domestic oil supply was lost.

Active offshore wells and existing oil fields in Alaska continued to (and still do) produce, with overall U.S. crude oil production reaching historic highs.

Who Shut Down Line 5 In Michigan?

Here comes that word again: Nobody.

Michigan Governor Gretchen Whitmer attempted to shut down Line 5 in November 2020, before Biden was even president. Her efforts failed, Line 5 never stopped running, and it continues to operate today. Whitmer is still fighting it, however.

Who Drained Our Oil Reserves?

This is referring to the Strategic Petroleum Reserve. It looks like I’m going to have to mansplain this one.

To begin with, releasing oil from the reserve does NOT raise gas prices. It eases shortages and/or slows down the rate of rising prices. Presidents have been releasing oil from the reserve for decades.

Furthermore, no president has ever drained the reserve. The reserve’s total maximum capacity is about 714 million barrels. In most cases, the amount released in a given emergency has been less than 100 million barrels.

Since people are trying to make this a Trump vs. Biden argument:

• Trump’s first term: he ordered no emergency drawdowns, but the Department of Energy sold millions of barrels due to bipartisan laws passed by Congress to fund unrelated federal budget items and tax legislation.
• Biden’s term: Although the Covid insanity had begun easing by the time he took office, prices were still spiking, and he released 50 million barrels in late 2021. Then, Russia invaded Ukraine, causing oil prices to shoot up, and in March 2022, Biden ordered the release of 1 million barrels per day for 180 days.
• Trump’s second term: Due to the Iran conflict disrupting oil supplies, in March 2026 Trump authorized the release of 172 million barrels over 120 days as part of a coordinated 400-million-barrel IEA drawdown responding to supply shocks.

Due to Trump’s actions, as of September 2026, our oil reserves have dropped to 285 million barrels, the lowest level since January 1983.

Of course, this doesn’t change the fact that releasing oil reserves does not raise oil prices, regardless of what the meme implies.

It’s a Global Market

Oil prices are affected by crude oil refining costs and profits, distribution, marketing, taxes, worldwide oil supply and demand, geopolitical events, refinery disruptions, and other international factors.

Under normal circumstances, presidential policies have minimal effect on worldwide crude oil prices, but the fallout from Trump’s blitzkrieg against Iran has thrown the entire world into chaos, and oil prices are up everywhere..

Blame Trump, not Biden.