This time last year we had lower gas prices than now. The gas prices are rising quickly due to policies of Biden. Let’s be honest, the media is not to be trusted on the reasons. They will say it’s because of the ongoing war of Russia and Ukraine. I think this person says it best:
I’ve worked pipeline construction for years up until Biden took office. Once he took office, everything stopped dead. The reason no one talks about is that it takes hundreds of millions of dollars to construct a pipeline, which requires pipeline company investment as well as private investors, and contracts from oil companies. No company or individual in their right mind would invest that kind of money knowing that the project can be shut down at any point by executive order (Keystone) or denial of any of the many permits that are required along the way. Every time I hear someone talk about all of the untapped leases, it drives me crazy because they apparently don’t understand the investment and risk that is involved. When Keystone was cancelled, it sent a message that investment in pipelines and new drilling is not a safe investment for individuals or companies.
To me that makes sense.
For those who think the war in Ukraine did this? That started a little over 100 days ago. Gasoline started rising the day Biden stepped into the Oval Office and cancelled the XL pipeline and canceled every single lease Trump gave in Alaska and offshore to the oil companies. Biden gleefully took away our energy independence to pursue his ‘climate change cult’ Green New Deal program.