Biden energy policy leads to inflation at the pump

 Caroly Downey:

As demand for energy continues to skyrocket due to the post-COVID recovery, U.S. oil prices have hit $80-a-barrel for the first time in nearly seven years.

On Monday, crude oil closed at $80.52 a barrel. The last time oil finished above $80 was October 31, 2014. While seasonal fluctuations in gas prices are typical, with hikes expected during the summer when leisure travel and transportation are at a high, they usually temper by the fall.

The national average price for gasoline has increased by 7 cents in the last week alone, landing at a steep $3.27 a gallon on Monday, according to AAA.

The price spike seems to contradict the administration’s claims that recent inflationary pressures are transitory.

As energy demand persists, supply has lagged significantly behind, prompting President Biden to demand that OPEC and its allies increase oil production. As one of his first acts in office, Biden curtailed domestic drilling by shutting down the Keystone oil pipeline and imposing a moratorium on new oil and gas drilling leases.
...

This is just a prelude to coming spikes as Biden does Big Green's bidding and makes it more expensive to use transportation and this winter it will make it more expensive to heat your homes.  The people who have been serially wrong about climate change are in control and their actions will cause more damage to America than the climate ever will.

These are some of the same people who said the poles would be ice-free by now and New York cits would be underwater.  Neither happened and the South Pole just had a record cold temperature reading of around 50 degrees below zero.

BTW:

Inflation ‘Way Beyond’ Transitory Becoming Growing Issue for Markets, Economist Says

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