Commentary: Analyst: Gas Prices Could Hit $3 Per Gallon Soon, Biden Having a ‘Profound Impact’
Gas prices across the country have been noticeably on the rise in recent weeks, and an analyst warns that it shows no signs of stopping.
Patrick De Haan, petroleum analysis for GasBuddy, suggested that President Joe Biden’s energy policies could bring the national average to $3.
“The Biden administration is going to have a profound impact on the oil and gas sector. A lot of Americans, of course, saying, you know, this is what we’re in the midst of, when right now it’s really the economy that’s pushing prices higher,” De Haan said Monday on “Mornings with Maria” on Fox Business.
“But like you said, in the future, absolutely, the limitations on new drilling could eventually become an issue,” he said. “And, of course, now we have this massive infrastructure plan and how to pay for it.”
“And, of course, you know, the potential is there, the federal gas tax hasn’t been touched since 1993. So motorists really need to be on alert for rising gas prices this year.”
De Haan said the average gas price “certainly could rub up against $3 a gallon” in the coming weeks.
The gas price increases are largely the result of OPEC keeping production cuts that were in place last year and creating a major supply-and-demand issue.
De Haan is correct that other factors could keep Americans paying more at the pump as a more direct result of the current administration.
Last week was a mixed bag at the pump: half of the states saw #gasprices rise ⬆️ while the other half saw declines ⬇️. More on that and what’s to come on today’s blog. https://t.co/svfpPU1THf pic.twitter.com/ojz8JL0D1y
— GasBuddy (@GasBuddy) April 5, 2021
Biden already halted federal leases for oil and gas, and other ideas being floated could also be a burden on drivers.
Increasing the federal gas tax from 18.4 cents per gallon or adding a “vehicle miles traveled” tax could still be on the table for the administration.
If You Drive a Car, You Might Soon Be Paying Buttigieg’s ‘Miles Traveled Tax’ via @WestJournalism https://t.co/gCPAyEVABd
— Nicole⭐️⭐️🇦🇺🇺🇸🇳🇿 (@nsouthern95) April 1, 2021
Biden needs to be incredibly careful with his energy policies, as rising gas prices create a significant burden for nearly all Americans.
Biden’s moratorium on federal #oilandgas leases could threaten jobs and harm local economies, especially in the Gulf Coast. @LMOGA breaks down consequences of the ban and offers innovative, alternative solutions to combat climate change. Learn more. ⬇️ https://t.co/LFGBSY4juD
— Consumer Energy Alliance (@CEAorg) April 1, 2021
High gas prices especially hurt lower-income Americans, who do not need any more money taken out of their wallets during a time of hardship.
In this difficult, recovering economy, the United States needs to do everything possible on the policy side to ensure that gas prices do not rise even further, but Biden seems more concerned about keeping climate alarmists pleased than helping the average American.
This article appeared originally on The Western Journal.
gas WILL go to $10/gal and your gas car/truck will be worthless…
I can’t comment about the rest of the country, but here in Texas, the gas price is $0.034 higher than it was at this same time in 2019.
Less than four cents higher than it was exactly two years ago hardly seems like something to be concerned about.
were exactly do you live by ED… I drive through Texas about every 2 to 3 weeks… gas is going up and has been… diesel is crazy priced…
Yes, gas has gone up, especially compared to 2020 prices.
I’m just saying that if you look at the historical weekly gas prices, we’re right at where we were at this same time two years ago.
You can’t expect that the reduced demand causing lower prices last year would continue indefinitely as demand has increased over the last few months. As far as I can tell, the prices that we’re seeing now are the “normal” prices.
Now, if it ramps up to $1.00 more a gallon than it was at the same time as 2019, I’ll concede that prices are going up a worrying amount. If it ends up tracking 2019 prices, or even a few cents more (inflation and all), I don’t see what the hand-wringing is about.
WHERE did Cameron Arcand and Patrick De Hann get the idea Biden is supportive of raising the federal gas tax? IJR published a Reuters article a few days ago relating that Biden had rejected the Chamber of Commerce and “right-leaning think tanks” suggestion to raise the gas tax.
(Reuters) –
“The White House on Thursday rejected the idea of raising gas taxes as a way to pay for President Joe Biden’s $2.3 trillion infrastructure plan, setting the stage for a fight with BUSINESS GROUPS calling for U.S. drivers to foot the bill instead of corporate tax hikes.”
“Many critics, including the Chamber and some right-leaning think tanks, said taxes should instead be raised on motorists. U.S. fuel taxes are some of the lowest in the world, and have not been increased since 1993. Business groups also proposed a new mileage tax that would include electronic vehicles to help plug holes in the national highway fund.” Biden already halted federal leases for oil and gas, and other ideas being floated could also be a burden on drivers.
“Biden already halted federal leases for oil and gas, and other ideas being floated could also be a burden on drivers.” —-Biden halted the granting of NEW leases on FEDERAL LAND. Last summer oil and natural companies shut down drilling claiming gas and oil prices were too low.
softa… seems your head is spinning around and around… slow down for a min… your brain is starting to smoke…