Will Biden’s Policies Push Crude Oil Over $100 a Barrel and Gas Over $5 Per Gallon??

 

The price of a barrel of crude oil started climbing as soon as the Biden Administration took over.  Biden’s actions related to oil have led to prices we haven’t seen since the Obama years. 

Gas prices have increased by 40% since the Biden Administration took over:

Analysts are beginning to warn that oil prices could again go over $100 a barrel:

Oil prices could “very easily” hit $100 a barrel in the aftermath of the failed OPEC+ talks, former U.S. Energy Secretary Dan Brouillette told CNBC on Tuesday.

“You could very easily see oil hitting $100 a barrel — potentially even higher,” he told CNBC’s Hadley Gamble…

…Prices soared to three-year highs following the collapse of those talks on Monday. On Tuesday during Asia trading, they surged even higher. U.S. crude pushed past $76 per barrel and international benchmark Brent was higher than $77 per barrel.

If the price per gallon of oil increases it is likely the price per gallon of gas will too.  Biden’t policies of shutting down pipelines and ending the US’s oil independence are costly to drivers but also put the US in the position where it becomes an oil importer and dependent on foreign countries who don’t have the US’s best interest in mind.