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High gas costs from Ukraine threat pose Biden political risk
The Associated Press ^ | February 16, 2022 | By JOSH BOAK

Posted on 02/16/2022 12:11:17 PM PST by Oldeconomybuyer

WASHINGTON (AP) — With the continuing threat of Russia invading Ukraine, a foreign policy crisis is colliding with one of President Joe Biden’s political vulnerabilities: Rising gasoline prices at home.

Americans are already dismayed by Inflation at a 40-year high, and Biden is warning that gas prices could get higher if Russian President Vladimir Putin chooses to invade. It’s a recognition of Biden’s own risks ahead of the 2022 midterm elections: Inflation has become an albatross for Democrats despite the nation’s strong economic growth last year.

Biden wants to put the focus on how the Ukraine situation is contributing to higher gasoline prices, but costs at the pump already were dramatically higher from a year ago. Efforts to coax more oil production in the U.S. and abroad have largely failed.

Jason Furman, a former Obama aide, Harvard University economist and senior fellow at the Peterson Institute for International Economics, said that the U.S. economy is at a point where it can withstand higher oil prices, though pockets of the country could be hurt. High prices would, in fact, lead to more oil-related investments that could cause prices to eventually fall.

Furman said the best choice Biden could make is what he did on Tuesday, warning the American people that prices could rise if war occurs.

“There’s just not a lot that the president can do,” Furman said. “ A certain amount of what the president should do is level with people that these events may drive prices up temporarily and that prices will also come back down.”

(Excerpt) Read more at apnews.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: brandon; democrats; energy; inflation; journalism; keystonepipeline; marxism; media; oil; press; regulations; socialism; ukraine

1 posted on 02/16/2022 12:11:17 PM PST by Oldeconomybuyer
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To: Oldeconomybuyer

If Biden hadn’t destroyed our energy independence, foreign affairs wouldn’t matter.


2 posted on 02/16/2022 12:15:52 PM PST by PTBAA
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To: Oldeconomybuyer

Biden and Pelosi are really angry with Russia. The Russians are messing with their Ukrainian piggy bank.


3 posted on 02/16/2022 12:17:59 PM PST by allendale
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To: Oldeconomybuyer

Amazing collection of lies from the “experts.”


4 posted on 02/16/2022 12:20:06 PM PST by hinckley buzzard ( Resist the narrative.)
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To: Oldeconomybuyer

Gas prices are NOT the only political risk this imbecile has. It is one of many.

The Bidet is the perfect example of the adage the higher the circus monkey climbs the pole, the more you see his ass.


5 posted on 02/16/2022 12:20:48 PM PST by Mouton (The enemy of the people is the media )
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To: Oldeconomybuyer

It’s truly breathtaking how much damage this grifter “President” has done in a year.


6 posted on 02/16/2022 12:23:18 PM PST by DesertRhino (Dogs are called man's best friend. Moslems hate dogs. Add it up....)
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To: Mouton

Hah......cute.


7 posted on 02/16/2022 12:24:11 PM PST by Liz ("Our side has 8 trillion bullets; the other side doesn't know which bathroom to use. )
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To: Oldeconomybuyer

This entire fake war charade has been scripted to distract us and invent a fictional victory for Biden to try and rescue 2022. Tom Friedman in the NYT today heralds how Joe made Putin “back down.” The entire media knows if they lie as one mass, and Big Tech bans all dissenting opinions, the people will hear one message only: their narratives. Sadly, it will probably work, thanks to generational Marxist infiltration of our schools.


8 posted on 02/16/2022 12:26:58 PM PST by montag813
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To: Oldeconomybuyer

As he defies a court order for the 2nd time. Federal leases.


9 posted on 02/16/2022 12:33:21 PM PST by TornadoAlley3 ( I'm Proud To Be An Okie From Muskogee)
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To: montag813

…. and give Brandon an excuse for his self-inflicted high energy prices.


10 posted on 02/16/2022 12:33:33 PM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money)
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To: Oldeconomybuyer

biden/obama/democrats screw up everything around the world!


11 posted on 02/16/2022 1:59:11 PM PST by minnesota_bound (I need more hash brown patties! )
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Print more fake RAT ballots…no problemo…


12 posted on 02/16/2022 2:17:11 PM PST by TnTnTn
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To: Oldeconomybuyer

The AP nazis think they’re special and protected by noodle-armed Yale graduates. Good luck with that, you weenie AP trolls. The Yale wimps will toss you AP morons over the side at the first hint of trouble.


13 posted on 02/16/2022 4:49:32 PM PST by sergeantdave
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