Quote:Gas price inflation is back.

For the first time since late last year, prices at the pump are now higher on a year-over-year basis. It’s a trend that industry experts expect to continue in the coming weeks and months, especially if Russian oil facilities continue to get hit by drone attacks. ...

All of this is casting doubt on when the Fed will be able to start cutting interest rates. Hopes for a March rate cut have faded, and investors are now betting on June or July.

“Gas prices are going to keep going up,” said Andy Lipow, president of Lipow Oil Associates. “This is going to cost the consumer more money. And that of course is not good for the administration.”

The national average price for regular gas climbed to $3.47 a gallon on Monday, according to AAA. That’s up from $3.45 a year ago and the highest price since Halloween.

https://www.msn.com/en-us/money/markets/...r-BB1k6r4L

INTERCONNECTED

Yep.

$2.17 under Trump when he left.

As fuel prices increase, so does inflation.

Bidenomics.

Cue the “President doesn’t affect gas prices” rhetoric

Record-High Gas Prices Don’t Bother Biden Because They Restrict Your Use Of Energy

Quote:You wouldn’t know it from White House press releases, but Americans are paying roughly 45 percent more at the pump now than before President Joe Biden first took office.

Anyone looking to take a quick weekend getaway or spring break outing in the coming days will pay an average of $3.51 per gallon to gas up their vehicles. Roadtrippers and commuters in states such as California are the hardest hit, paying upwards of $4.93 per gallon. Even notoriously cheap states for gas such as Texas still have Americans shelling out far more than $3 per gallon.

“Gas price inflation is back,” CNN, one of the few corporate media publications mentioning the price surge, noted at the beginning of its latest article on fuel. The Daily Mail repeated the same phrase in a recent headline.

The truth is, gas price inflation never left. Prices at the pump are definitively higher now than they were one year ago.

One might think that Biden, who is already lagging in presidential polls for the upcoming election, would do everything in his power to fix the problem because his campaign team knows Americans vote with their pocketbooks. Yet the Biden administration has adopted rhetoric about a so-called “dip” in the cost of unleaded from 2022 records to claim that inflation isn’t as bad or as Democrat-inflicted as it is.

This week, as the cost to fill a car climbs daily, White House Press Secretary Karine Jean Pierre went so far as to brag that the “actions that [Biden] took led to lowering gas prices.”

On Friday, she attributed the “fall” in record-high prices to President Joe Biden’s “unprecedented actions” on oil.

“We saw gas prices go down,” she repeated.

The White House, with the help of corporate media, has long touted “cooling” prices to flood the airwaves with propaganda seeking to obscure the nation’s dire economic conditions. Yet, as with every other category of inflation, gas costs have never technically stopped climbing since Biden’s entrance in 2021. Even when the price of unleaded varied slightly from the record high that plagued Biden’s first few presidential years thanks to his unfriendly oil and gas policies, the cost of filling up a car has remained steadily high.

The White House will do its best to cover up its role in the inflation crisis wreaking havoc on the country, but will stop short of enacting a real solution. The administration won’t lift any of its policies exacerbating high gas prices because jarring costs at the pump don’t necessary conflict with the administration’s goals.

The Biden administration openly desires to use chronically high gas prices to usher in electric vehicles and weather-dependent energy.

The beauty of this is that those enamored of the Demons in office are feeling the crunch too. Let them continue voting them into office. I get those same feelings on stuff like this..."feelings, nothing more than feelings".

Weird, our incumbent economics reporter missed posting this?

I wonder how this slipped through?

Did Donald Trump say what he was going to charge us for gas?

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

(03-21-2024 02:51 PM)green Wrote:  

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

(03-21-2024 02:55 PM)Marc Mensa Wrote:  

(03-21-2024 02:51 PM)green Wrote:  

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

Since it worked under Trump, I guess we can chalk it up to the fact that Biden* doesnt know what he's doing then. Shocker, I know.....

Quote:On the first day of Biden’s presidency, he issued an executive order canceling the Keystone XL pipeline — making good on his promise to the climate activists who helped get him elected ...

KNOW WHICH SIDE ONE'S BREAD IS BUTTERED ON

(03-21-2024 02:57 PM)UofMstateU Wrote:  

(03-21-2024 02:55 PM)Marc Mensa Wrote:  

(03-21-2024 02:51 PM)green Wrote:  

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

Since it worked under Trump, I guess we can chalk it up to the fact that Biden* doesnt know what he's doing then. Shocker, I know.....

Covid cratered US oil production… under Trump.

(03-21-2024 03:03 PM)Marc Mensa Wrote:  

(03-21-2024 02:57 PM)UofMstateU Wrote:  

(03-21-2024 02:55 PM)Marc Mensa Wrote:  

(03-21-2024 02:51 PM)green Wrote:  

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

Since it worked under Trump, I guess we can chalk it up to the fact that Biden* doesnt know what he's doing then. Shocker, I know.....

Covid cratered US oil production… under Trump.

When Trump left office, gas was $2.17 a gallon. We were also energy independent.

(03-21-2024 03:03 PM)Marc Mensa Wrote:  

(03-21-2024 02:57 PM)UofMstateU Wrote:  

(03-21-2024 02:55 PM)Marc Mensa Wrote:  

(03-21-2024 02:51 PM)green Wrote:  

(03-21-2024 02:48 PM)Marc Mensa Wrote:  Did Donald Trump say what he was going to charge us for gas?

https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

Since it worked under Trump, I guess we can chalk it up to the fact that Biden* doesnt know what he's doing then. Shocker, I know.....

Covid cratered US oil production… under Trump.

Defending Democratic economic policies have cratered some folks brains.

You can't cut interest rates with rising prices already due to inflation. Its like throwing gasoline on a fire.

Not sure where the Feds are getting their numbers but by my own numbers month over month inflation is higher than 3% closer to 8%

Maybe they should raise it another point and shut down inflation for a while. This soft landing is bankrupting folks.

More folks than ever are applying for credit just to cover monthly expenses already incurred.

(03-21-2024 10:11 PM)450bench Wrote:  

(03-21-2024 03:03 PM)Marc Mensa Wrote:  

(03-21-2024 02:57 PM)UofMstateU Wrote:  

(03-21-2024 02:55 PM)Marc Mensa Wrote:  

(03-21-2024 02:51 PM)green Wrote:  https://oilprice.com/Latest-Energy-News/...ected.html

DRILL BABY DRILL

We’re drilling more now than we did under Trump

Since it worked under Trump, I guess we can chalk it up to the fact that Biden* doesnt know what he's doing then. Shocker, I know.....

Covid cratered US oil production… under Trump.

When Trump left office, gas was $2.17 a gallon. We were also energy independent.

and the worldwide economy was shutdown and worldwide demand for gas was low. Of course, as the economy opened up, demand quickly grew and supply was low given 2 years of shutdown. Was the economic shutdown part of Trump’s energy policy?

We have never been oil independent… even now when US domestic oil production is at an all time high. At best, we produce 13k daily & consume 19k.

Both Trump & Biden claim energy independence, but neither have been crude oil independent.

https://www.eia.gov/dnav/pet/hist/LeafHa...RFPUS2&f=M

“U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the U.S. attained the long-held goal of “energy independence”—which is not to say that we did not import or export energy, but that we produced more energy than we used. One can thank the oil and gas industry and its use of hydraulic fracturing and horizontal drilling for that milestone as production in those industries increased a combined 11 percent in 2019.”



https://www.instituteforenergyresearch.o...ince-1957/