By Kaylee McGhee White, Commentary Writer
President Joe Biden appeared shocked this week to discover that gas prices are so high. Just wait until he finds out his administration is the reason why.
“We got a higher demand for goods at the same time we’re facing disruptions in the supplies to make those goods. This is a recipe for delays and for higher prices, and people are feeling it,” Biden said in Baltimore on Wednesday. “They’re feeling it. Did you ever think you’d be paying this much for a gallon of gas? In some parts of California, they’re paying $4.50 a gallon!”
Maybe Biden is just now noticing, but drivers have been paying significantly more at the pump for several months now. The average retail price of a gallon of gas began to climb in May and has now reached a seven-year high, according to the American Automobile Association. On average, people are spending about $3.42 per gallon and $20 more to fill up their tanks than they did this time last year.
Biden tried to claim last month that he can’t do much about gas prices, but that’s just not true. He effectively has control of our oil supply and has chosen to stifle that supply by targeting U.S.-based pipelines. As one of his first acts in office, he announced a moratorium on drilling permit issuances on federal lands and water and revoked the permit of the Keystone XL Pipeline, which would have sent 830,000 barrels of oil a day to Nebraska and then to points south and east. And now, he is encouraging a review of a proposed pipeline replacement project that would carry 540,000 barrels a day through Michigan.
The results of these policies have been higher gas prices and an increased dependency on OPEC and foreign governments that have a financial interest in keeping those prices high. Instead of taking matters into his own hands and increasing America’s own supply, Biden has taken to begging OPEC to increase its oil production. And all the while, the cost of a gallon of gas continues to rise. Some Wall Street analysts expect drivers to be paying $5 per gallon at the pump by next year.
So, to answer Biden’s question, no, people did not expect to be paying this much for gas. But they probably didn’t expect the president of the United States not to understand the economic consequences of supply and demand either.
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