Monday, April 8, 2024

Nationwide Gas Prices Top $3.50, Spiking More than 45% Under Joe Biden; Biden’s High Gas Prices Force Him to Cancel Strategic Petroleum Reserve Refill

Tim Boyle, Ting Shen/Getty Images, BNN
Nationwide Gas Prices Top $3.50, Spiking More than 45% Under Joe Biden:
The nationwide average price for regular gas topped $3.54 a gallon, a spike of more than 45 percent under President Joe Biden, AAA reported Wednesday.
In the past month, gas prices rose 20 cents ($3.34), about one dollar more expensive ($2.38) than when Trump left office.
Gas prices remain high and could go higher due to industry and political factors. Biden’s economic war on American energy independence during instability in the Middle East and in Ukraine are significant factors.
According to Goldman Sachs, gas prices could reach $4 by May.
“A number of factors driving oil prices higher. So you have the expectation that OPEC+ is going to carry on with their production cuts. There’s also been rising tensions in the Middle East. That has also been sending prices higher,” Yahoo News’ Ines Ferre reported Wednesday.
Consumers are feeling the pitch of the increased cost.
“Since gas prices have gone up I had to get this car right here, which is a gas saver for me. I used to have a truck and I would pump almost every day, now it’s every other day,” Jose Torres, a California resident, told KFSN. --->READ MORE HERE
Evan Vucci/AP
Nolte: Biden’s High Gas Prices Force Him to Cancel Strategic Petroleum Reserve Refill:
The Biden White House looked at Biden’s gas prices and the sticker shock caused the cancellation of a scheduled refill of our Strategic Petroleum Reserve (SPR).
Although the SPR is supposed to be for national emergencies, His Fraudulency Joe Biden began releasing oil from this emergency reserve in 2021 to save himself from the “emergency” caused by his war on cheap energy and the sky-high gas prices that followed.
And because oil and gas are necessary to produce, transport, store, and sell almost every product in America, we have also been hit with crippling inflation.
So, rather than reverse his failed energy policies, Hunter’s Dad instead chose to deplete our reserves, which leaves America all the more vulnerable to a real emergency.
Per Fox News, the SPR “currently contains 363.6 million barrels of oil, a 43% decline from January 2021 when Biden took office[.]”
Fox adds, “The Department of Energy said that while it remains committed to refilling the SPR, it would pull back its most recent solicitation for oil amid increasing prices.”
Oh, you mean these rising gas prices, the 45 percent jump since The Donald left office?
“Keeping the taxpayer’s interest at the forefront, we will not award for the Bayou Choctaw SPR site in August and September and will continue to solicit available capacity as market conditions allow,” a DOE spokesperson said.
“When DOE first announced the Bayou Choctaw refill plan last month, it said it would aim to purchase oil priced at $79 per barrel or below. Since then, oil prices have increased, with the U.S. benchmark hitting $85.71 earlier on Wednesday,” the article noted. --->READ MORE HERE
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