When I filled my tank with gasoline this week, the cost was $89.00. Last year at this time the cost was mid-$50’s. But why has the fuel cost, $3.79 for mid-range gasoline, reached the highest price in seven years?
The cost for crude oil will close at more than $82.00 today ... and just a year ago the close was $40.00!
So, what happened? Were we not selling fossil fuel just last year? And now we are asking our “friends” in the OPEC countries (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela) to “be kind,” and drill more oil to keep the prices of gasoline lower ... and they’re laughing all the way to the bank!
How did this happen so quickly? On Joe Biden’s first day in office he unilaterally cancelled the contract with our true friend and best trading partner for the XL pipeline, and Canada has not forgiven us for this betrayal ... just today, his spokesperson has said that the Line 5 Pipeline is on the table. When this happens Pres. Biden will have to face more heat from Canada, the Michigan governor and the U.S. citizens whose energy costs for heating will double this winter as propane costs rise across the entire state of Michigan! As winter temperatures drop across the Midwest, the termination of Line 5 will undoubtedly further exacerbate shortages and prices increases in food and supplies as gas price increases have done right here in South Florida.
And lastly, Biden has suspended oil drilling in Alaska at the cost of 10 billion barrels each year ($64 billion) and a per resident loss of $1600.00 annually.
The honeymoon is over for the president whose approval rating has tumbled to a new low of just 45% according to Reuters. And don’t depend on our “Vice” - hers is only 27%!!