What happened to the US supply of diesel fuel
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Diesel doesn’t get as much of the limelight as oil and gas, but it should because diesel fuel is the industrial lifeblood of the United States, and the price of diesel alone probably has a more significant impact on inflation and the prices you’re paying at the grocery store over any other factor. Without ample amounts of diesel, semi-trucks don’t move, farms are shut down, and critical manufacturing sectors are crippled.
As Bloomberg noted this week, “The US has just 25 days of diesel supply, the lowest since 2008, according to the Energy Information Administration. At the same time, the four-week rolling average of distillates supplied, a proxy for demand, rose to its highest seasonal level since 2007.”
The Biden administration has remained strangely silent, probably hoping that the dismal news doesn’t hit the mainstream because it’s a total political timebomb waiting to go off, especially as the midterm elections are so close.
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Diesel has also been described as the nation’s “inflation canary,” given that it’s so critically important for everything we need to survive. The bottom line is that without ample supplies and record-high prices for what’s left, Americans will get financially hammered over the winter and into 2023.
Folks, it’s probably going to get really bad out there. The scary part is that the Biden administration doesn’t seem to give a rip.
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We have a historically low supply of diesel fuel, which powers everything that allows us to eat, drink, and live our daily lives. Because of the diminished supply under Biden, we have surging prices, making the cost of hauling goods, farming, and everything else that requires diesel fuel (pretty much everything) higher than ever before, which will cause prices of everything we use and need to increase in the coming months significantly.
Add to that a potentially hard, cold winter for many parts of the country, when heating oil demand will skyrocket, causing prices to soar once again over competition for what’s left in the tank.
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Biden has had an anti-energy policy from day one and this looks like one of the consequences of it. The Democrats should be held accountable for this in the November election. Hopefully, there will be enough fuel at the pumps to get to the polls.
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