Biden's Super-High Gas Prices About to Get Worse | Bidenomics and Democrat Inflation
'Research has found that the sharp decline in domestic production from US shale wells is worse than the industry expected. This is forcing companies to bolster their workload to prevent output from slowing and develop new strategies to maximize already expensive drilling opportunities due to federal and state red tape. ...the government preventing more supply from coming to market through intense regulatory costs, consumers and businesses pay higher prices. West Texas Intermediate (WTI) has surged 12% over the last three months, trading above $80 a barrel on the New York Mercantile Exchange. Brent, the international benchmark for oil prices, has risen more than 11% since May to above $84 per barrel on London’s ICE Futures exchange. With oil accounting for about half of the cost of a gallon of gasoline, motorists are paying more at the pump this year. So far in 2023, the national average for a gallon of gas is up 20% and approaching $4. Perhaps the current regime in Washington will only be satisfied when the US outsources all of its energy needs overseas or depends on unreliable windmills that are killing whales....'
Reference: www.libertynation.com
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