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Gas prices continue to accelerate

 Breitbart:

Gas prices increased five cents into Wednesday morning and topped a record high of $4.67 gallon, AAA data revealed.

As drivers are confronted with a 50 percent gas price increase from last year, 18 states are hovering around $5 per gallon.

JPMorgan Chase on May 18 raised concerns the national average price of gas could increase to $6 per gallon. California has already exceeded $6/gallon.

The soaring gas price has fueled President Joe Biden’s inflation.

On Tuesday, Treasury Secretary Janet Yellen admitted during a press interview she and the president had failed to accurately assess that inflation would climb to a 40-year-high.

...

But Biden has continued his war on American energy. Breitbart News reported:

Biden has waged war on both public and private financing of oil drilling while subsidizing green-new-deal-like energy plans. As a result, American oil production is down from 2019, the year before the pandemic. Hard numbers suggest 2022 oil production is 12 million barrels per day, or eight percent less than in 2019.

Biden has made it increasingly more difficult for oil companies to gain financing to drill on private lands. He has also halted new drilling on public lands and terminated the Keystone Pipeline project that would have transported vast amounts of oil to American refineries.

It is not the first time Biden has shielded himself from blame for inflation.

What the White House once dubbed “transitory inflation” became “Putin’s price hike.” Before that reframing, the establishment media said inflation was “good,” while the Washington Post said inflation was the result of “corporate greed.”

...

Biden's war against fossil fuels has led to greater inflation along with his profligate spending programs.

I did not a recent drop in the price of gas in this part of Texas.  Buckees has regular gas now at $4.06 a gallon down from $4.19 in recent weeks. That is still more than twice what it was before Biden started limiting US production. 

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