Source: Joe Hoft
The cost at the pump reached the highest prices since Obama was last in the White House.
CNBC reported today:
Gas prices rose to the highest level in more than seven years Friday, on the heels of the U.S. oil benchmark topping $90 per barrel for the first time since 2014.
The national average for a gallon of gas stood at $3.423 on Friday, according to AAA, slightly surpassing the prior high-water mark of $3.422 from Nov. 8.
Friday’s price means consumers are now paying the most at the pump since Sept. 10, 2014, AAA data shows. The national average stood at $2.44 a year ago.
The rapid rise in prices is contributing to inflationary fears across the economy and is creating a headache for the Biden administration.
Conservative Treehouse has more.
Gasoline prices have risen, on average, 40% in the past 11 months. This leads to higher consumer costs across the board. Oil, currently $90/barrel, is going to go even higher as a merge of Biden economic, regulatory, energy and foreign policies are going to make things worse.
As the Obama-Biden administration previously said when they achieved their last historic increase in gas prices, “U.S. energy prices will necessarily skyrocket“, in order to achieve their ideological climate change objectives.
The Treehouse also adds that the price of gas is dependent upon who is in the White House:
Yes, a president can and does control the price of gasoline. What can a U.S. President and administration specifically do? We have abundant U.S. energy resources. Quite literally the strongest in the entire world.
- Permit the use of preexisting approved leases in ANWAR (Alaska) to put more volume into the Alaskan oil pipeline that is severely underutilized.
- Finish the Dakota access pipeline.
- Re-approve the preexisting energy leases in New Mexico, Arizona, NE Atlantic and Gulf of Mexico.
- Retract the stoppage of the Keystone pipeline to permit efficient oil transport shipments from Canada.
- Stop blocking the expansion of coastal oil refineries in Texas, Louisiana and Alabama (regulatory issue), as well as Northwest, Northeast and Southeast Seaboard.
- Continue to develop natural gas as a clean burning fuel.
- Drive Liquefied Natural Gas (LNG) as an export.
Unfortunately, this would mean reversing the entire energy policy of the current administration. The existing energy inflation and high prices of oil, natural gas and gasoline are a direct and intentional part of Joe Biden policy. That policy is driven by the leftist demand for a “green new deal.”
Biden has taken some action on the soaring gas prices in the US but unfortunately it didn’t help the US.