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Record gasoline prices in the US: who should carry the can?

America broke a painful record last week, he said Issues & Insights. The average price for a gallon of regular gasoline surpassed $4.32, surpassing the previous all-time high set in the summer of 2008. The White House says the price hike is due to the Ukraine crisis, but don’t believe it. It has just as much to do with his own war on America’s fossil fuel industry. On his first day in the White House, Joe Biden destroyed the Keystone XL pipeline that promised to bring new shipments of oil from Canada. He has since blocked other drill leases and permits. The truth is that the Democratic Party has long wanted gas to be “valued as a luxury good.” As early as 2008, Steven Chu, who later became Barack Obama’s energy secretary, declared that “we have to find out how we can raise gasoline prices to the level in Europe”. Well, now her dreams have come true.

Conservatives were quick to blame the Biden administration for high gasoline costs, Hayes Brown said MSNBC.com. People put little stickers of Biden on gas pumps showing him pointing at the total price, with the caption “I HAVE THIS!” But blaming him is ridiculous, as if there’s a “scale in the Oval Office he uses to set gas prices.” the cost of petrol driven by global markets and broader industry trends; it shot up from $80 a barrel to over $120 Putin’s invasion of Ukraine. The Keystone pipeline shouldn’t be operational until next year. The industry is in no rush to ramp up production: there are 9,000 drilling permits that it has yet to use.

In one sense, politicians in Washington can really be blamed for this problem, Henry Grabar said slate, and that is their failure to do more to reduce demand for gasoline. Between 2011 and 2014, America last experienced sustained high gasoline prices. This spurred President Obama to set ambitious fuel efficiency targets for automakers. But under industry pressure, he added a gap for larger-footprint vehicles. The result: cars got bigger. “By 2018, two out of every three new cars sold was an SUV or a pickup truck — down from less than one in two decades earlier.” If only a decade ago America had taken the right steps to get people to drive smaller cars, and making the country more pedestrian and public transport-friendly if it weren’t so sensitive to the next “spike in gas prices.”

https://www.theweek.co.uk/news/world-news/us/956129/record-petrol-prices-us-who-should-carry-the-can Record gasoline prices in the US: who should carry the can?

Fry Electronics Team

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