Posted on 02/10/2022 9:06:24 AM PST by rktman
If you think the highest overall inflation rate in 40 years of 7% is bad, get ready for a real shock coming to a pump near you. Oil prices are surging so much that, ironically, even the "Green New Deal" president is begging global and domestic producers alike to ramp up production and pump, pump, pump! And despite his releasing millions of barrels of crude from the strategic oil reserve and pleading with oil-rich nations to increase their output, prices continue to climb.
In early December, oil was trading at $65 per barrel. Today, it's over $90, which is more than a 50% increase in a little over a couple of months. This past week, the average price of gasoline in the United States hit a seven-year high at the pump, but there's still much more to come. And while the U.S. Energy Information Administration these past few weeks predicted that prices will now decline continuously well into 2023, oil traders are pricing for $100 per barrel and higher in the next several months.
(Excerpt) Read more at americanthinker.com ...
Waiving the gas tax would feel good for awhile, and might even work politically, but in the long run would only make inflation worse.
Treasonous bastard!
Democrats.
He has caused all these problems. Let them stew in it.
Did anyone notice what happened when Sleepy Joe opened the federal oil reserves to lower pump prices? He promised that would be “a game changer.”
Now we used the emergency reserves and the oil is still going higher.
It actually started the day he was called President Elect. Oil investors, foreign governments and oil companies celebrated on the same day.
Hows that Shutting off the Keystone going for ya?
GMTA
I have no idea what that means.
Gas is already at $5 a gallon at some stations here in the Los Angeles area. It will go even higher as companies transition to the more expensive summer blend required by environmental regulators.
Oil, by the way, just topped $90/barrel for the first time in years.
I’m thinking gas at $6 a gallon by September, with oil at $120. We’ll see...Inflation at 10-15%. General misery for the middle class.
The a hole had his minions contacting countries like Algeria to increase production.
Great minds think alike. Your post on Keystone was 10 seconds ahead of mine.
Oil is not the only nightmare created by Biden.
1. Millions of illegal aliens coming into the country have pushed up rental rates for housing.
2. Vaxx mandates have led to people not working or being fired and that has slowed the supply chain. Reduce the supply and prices go up.
š¤£
High fuel prices = higher prices on anything shipped, raised, grown, built, or mined.
Drop fuel prices and you lower inflation.
https://www.ranken-energy.com/index.php/products-made-from-petroleum/
This is why it is high and going higher
Take out the c dude....Rats
just posted on citizens free press
New Trucker blockade at North Dakota Canada borderā¦
I believe this will blockade trucks hauling stuff in and out of Canada via Interstate 29.
There sure are a lot of trucks in Canada sitting idle right now.
Did anyone ever hear for the Key Stone pipe line??
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