President Joe Biden and his administration said Americans should reduce their consumption of oil and gas in order to keep prices down and ultimately punish Russian President Vladimir Putin.
In 1974 when Vice President Gerald Ford succeeded to the presidency after Richard Nixon resigned, the country was in a bad economic crisis. The Arab oil shocks of 1973 led to a 300% increase in the price of oil, which translated into inflation of more than 12%.
Here’s an actual headline good for some laughs: “Vulnerable Senate Dems try to run as tax-cutters.” That howler of a header appeared this week in Politico.
An uptick in the price of wholesale gasoline is squeezing profits at stations that lowered prices most aggressively amid a broader falling trend nationally, with GasBuddy head petroleum analyst Patrick De Haan predicting that prices at the pump in several states will likely shoot up soon.
Slapped on a gas pump next to the digital meter display, the stickers tell a simple, powerful story: Today’s gasoline prices, the highest in years, are courtesy of the commander in chief.
A federal judge on Monday issued a nationwide injunction on President Joe Biden’s executive order to halt oil and gas operations on all federal lands in the name of fighting so-called climate change.
