What a recipe for disaster waiting to happen created by several U.S. administrations!
Of course, the demented and senile 46th President was unable to anticipate the consequences of his and his administration's actions against domestic fossil energy production!
At least President Trump most likely understood that you can sanction and embargo imports of oil from certain countries (like Venezuela) as long as domestic production is allowed and supported.
Breitbart Business Digest summed it up quite nicely today (6/17/2022)
"Let's look to the supply side. We cut off Russian oil because of the invasion of Ukraine. We cut off Iranian oil long ago because Iran's mullahs refuse to stop promoting terrorism and pursuing nuclear weapons. We cut off Venezuelan oil to avoid enriching its evil regime. And then we went ahead and knee-capped our own oil extraction and refining industry by promising to "end fossil fuels," starving it of capital by threatening banks with "transition risk" regulation and promoting ESG investing (which we've called Cancel Culture for Fossil Fuels), shutting down pipelines and refineries, and generally being careless about the idea of energy independence."
Indeed since July 2019, the U.S. does not import any oil anymore from Venezuela under the Trum administration. (Source)
With Iraq, the situation is not much better!
And what about nuclear power in the U.S.?
"Electricity generation from commercial nuclear power plants in the United States began in 1958. At the end of 2021, the United States had 93 operating commercial nuclear reactors at 55 nuclear power plants in 28 states. The average age of these nuclear reactors is about 40 years old. The oldest operating reactor, Nine Mile Point Unit 1 in New York, began commercial operation in December 1969. The newest reactor to enter service, Watts Bar Unit 2, came online in 2016—the first reactor to come online since 1996 when the Watts Bar Unit 1 came online. According to the U.S. Nuclear Regulatory Commission as of November 2021, there were 23 shut down commercial nuclear power reactors at 19 sites in various stages of decommissioning" (Source)
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