Monday, October 18, 2021

America’s Gas Pains Return: Biden Energy Policies are Biting Deep; Gas Prices Hit Seven-Year High; Gas Prices Have More Than Tripled in the Last 18 Months—and are Likely to Go Higher, and related stories

Troy Stolt/Chattanooga Times Free Press via AP
America’s gas pains return:
Biden energy policies are biting deep
President Biden proudly touts his determination to go all-in on renewable energy. A secret he would like to keep, though, is the harmful effect of his energy policies on U.S. consumers’ finances. The pain is enumerated on the signage of gas stations from coast to coast, signaling to drivers the return of the dismal days seven years ago when the “progressive” Obama-Biden administration subjected them to the same financial strain. That’s no progress.
On Friday, Mr. Biden appeared before the White House press corps to defend a report showing the addition of 194,000 jobs in September fell far short of the 500,000 expected. Then, squinting toward the future, the president plugged his $3.5 trillion Build Back Better bill as the needed spark to a sluggish employment market.
“It’s going to help us meet the moment on climate change and become a global leader in the fast-growing industry of things like solar and wind power,” said Mr. Biden. “The whole world knows that the future of the auto industry is electric, electric—battery technology. We need to make sure America builds that future instead of falling behind. We should build those vehicles and the batteries that go into them. And the charging stations they’re going to need.” --->READ MORE HERE
Karimala/Getty Images
Gas Prices Hit Seven-Year High:
The national average for a gallon of gas rose to $3.22 on Wednesday, the highest price at the pump in seven years, according to AAA.
Some Americans, like those in California’s Mono County, are seeing prices of more than $5 per gallon. The blue state’s average price is $4.42.
Americans on average are paying more than $1 per gallon more than this time last year. West Texas Intermediate crude futures, the U.S. oil benchmark, traded around $77.60 per barrel Wednesday; one year ago, it traded around $40.
The rising cost comes after demand for petroleum products tanked in 2020 as a result of COVID-19 shutdowns. Though demand has since recovered, the supply remains constrained, according to CNBC. The supply chain issues have been worsened by Hurricane Ida, which knocked produced in the Gulf of Mexico offline. --->READ MORE HERE
Follow links below to related stories:

+++++Gas prices have more than tripled in the last 18 months—and are likely to go higher+++++

Oil rises 4% in week as energy crunch shows no signs of easing

White House Begs Oil Companies for Cheaper Fuel Days After Joe Biden Boasted About Suspending Drilling

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