Trump causes average gas prices to skyrocket to $4.48 per gal., $5.65 for diesel. Trump is also causing jet fuel shortages.

unfortunately-it-will-get-worse-v0-joh201igmazg1.png
 

The truth about gas prices that the Trump administration hates​



Since President Donald Trump began the war on Iran in February, gas prices in the United States have risen more than $1.40 a gallon, to a national average of $4.45, according to AAA.

Mind you, this is all the opposite of the “energy independence” that Trump promised in his re-election campaign.

In many ways, the U.S. has been fortunate. Over the past decade, the U.S. has recorded huge upticks in oil and natural gas production, largely driven by the development of shale oil fracking.

The growth is such that America is a net exporter, with annual liquefied natural gas exports worth more than soybean or corn exports.

That surge has helped the U.S. weather the energy crisis kick-started by Trump’s war better than many countries dependent on oil no longer flowing through the Strait of Hormuz.

Our geographic location also has upsides: Trump’s closure of the strait hasn’t affected oil shipments arriving to the U.S. from Mexico and Canada, which account for more than 60% of U.S. petroleum imports.

But the price consumers pay at the pump is tied to the global oil market, which remains volatile. With demand for oil greatly outstripping supply, the U.S. simply doesn’t produce enough to match the millions of barrels unable to make it out of the Persian Gulf.

The countries most affected by the strait’s closure are worried about their vulnerabilities.

Europe is no stranger to war driving up oil and gas prices and was considering alternative energy sources even before Russian President Vladimir Putin attacked Ukraine.

The trend in oil futures prices suggests that prices at U.S. gas stations — like airfares — are going to be high for a while.

But the pain of watching their bank accounts drain into their gas tank may persuade more Americans that the shift away from Trump's party is worth it in November.
 
You must log in or register to reply here.
Back
Top