Posted on 03/05/2021 1:13:28 PM PST by rktman
Gas prices are on the rise nationwide, and former Shell Oil president John Hofmeister is concerned that they may go even higher with the Biden administration now in office.
Crude oil prices are currently rallying, driving the national average for gas prices to $2.75 as of Thursday morning, based on AAA reports — and that number is expected to increase. Hofmeister spoke with Maria Bartiromo on Fox Business’ “Mornings with Maria” segment Thursday to address the root cause of why Americans are currently paying more at the pump.
“The reason gasoline is coming back up is we’ve been in a shutdown period for many of the refineries, and so that puts a squeeze on what’s available in terms of final product,” Hofmeister said.
“But there’s something else that’s going on that’s more subtle. What that is is that the industry, the producers, are practicing serious capital discipline and they’re not roaring back to produce more oil. And also, they’re getting squeezed by the administration,” the former Shell president said.
“So the ban on leasing — the prohibition on new leases from the Biden administration — that’s going to create a psychology in the industry of, ‘There’s going to be less available,’ and the psychology drives the pricing as well.”
“As long as we see this hostile administration, we’re going to have a problem with prices,” he added.
(Excerpt) Read more at westernjournal.com ...
No (excrement), Sherlock.
A real stunner huh? Guess who WON’T be bothered by any of this. The democommies.
And the media will blame the price spikes on a whole bunch of factors, but will never blame Biden.
Just what America needs after 1 year of lock-downs, millions losing businesses, jobs etc...As soon as Trump is gone, the Democrats quickly make everything more expensive by their dictatorial punitive policies.
So sad.
I was paying 1.60 a gallon in SW Florida in November or December
none of the DC overlords could really care...after all its just the deplorables who have to deal with it
From 1.99 to 2.95 where I’m at. Yeah, I notice!
IMO: Between COVID and the coming $10 per gallon gas, not many of us will be able to freely travel around inside this country. It’s all about controlling the masses in order to increase and ensure the safety of the DC criminals and their cronies.
It is 3.45 in California....I was on a road trip and Paid 5.00. there four or five years ago
I feel like we are being punished for the last four (successful) years and for the next four years, prices on everything will skyrocket and even more people will have more difficulty making ends meet.
I could be wrong but me thinks between COVID and the coming $10+ per gallon gas, not many of us will be able to freely travel around inside this country. It’s all about controlling the masses in order to increase and ensure the safety of the DC criminals and their cronies.
There, fixed.
The gas station on the corner of Beverly Blvd. and La Cienega in West Hollywood, just down the street from Cedars-Sinai Medical Center is charging $5.10/gallon for regular.
First of all, if you’ve purchased a new car in the past few years, you’re not going to put crappy gas in it.
It cost me $3.40/ gal today in GA. That’s rediculour. Reg is 2.70$. So $6 more a fill up. I’ll get better mileage, a lot better, but still that’s way too much to pay...
Once again, these left wing democrats are hurting the poor more than Trump could possibly.
I hope the price goes to $5 bucks per gal. for the cheap gas.
Going to? They are already up 80 cents a gallon around here.
I s'pect it will get much worse.
They bill the taxpayers for their gas, anyway.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.