Watch Biden blame climate or Putin for gasoline prices
Tom KirkmanIndependent Project Manager
It should be amusing to watch Biden blame Climate Change and / or Trump or Putin for rising gasoline prices.
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“US oil prices have recently jumped above the $80 a barrel mark – the highest level since late 2023, sending worrying signals to the Federal Reserve and overly anxious White House.
The surge in WTI has pushed wholesales gasoline prices up.
And worse, pump prices are set to accelerate even higher in the coming months to an average of $4 a gallon, which would be the highest level since the summer of 2022, according to Bloomberg, citing new data from AAA Automobile Club.
A combination of issues is pressuring futures and pump prices higher, including the transition to summer-grade gasoline and strained domestic refineries, as well as concerns about shrinking global crude product supplies while Ukraine attacks Russian refineries.
And now it should make a whole lot of sense why the Biden administration pleaded with Ukrainians to stop drone attacks, along with the White House pushing Vice President Kamala Harris out on ABC News on Sunday to warn Israel publicly not to launch a counteroffensive against Hamas in Rafah
– because increased chaos on that side of the world would stoke higher crude prices –
and bad timing for the administration, just ahead of the US presidential election in November. …”