Buckle up: Biden’s Energy Secretary has a wild theory on rising gas prices

Energy secretary Jennifer Granholm seemed to suggest on a CNN interview with host Jake Tapper that the recent alarming increase in gas prices was not due to the economy or the Biden administration’s policies, but instead was happening because of the coronavirus.

Gas prices have risen fifty cents or more a gallon since President Joe Biden has taken office. Tapper asked Granholm why she thought that was occurring and her answer was stunning.

“Beyond whether or not you think your policies are to blame, are you worried that the prices could impact whether or not Americans travel, which is, of course, needed to put money back into the economy?” Tapper asked Granholm on Friday.

“People need to travel, you’re right, but we need to get the virus under control first, we need to get to that 70 percent, we need to get to herd immunity,” Granholm oddly posited. “Why have gas prices gone up? Could that be because of the virus itself as well? Everything is tied together.”

According to AAA, the average price per gallon for gas is $2.95. California, with its burdensome regulations and hefty taxes, has seen the largest increase and they are paying approximately $4 a gallon now. The same policies implemented in California are now reportedly being proposed by the Biden administration on a national level, using climate change as a justification.

(Video Credit: CNN)

Gas prices fell during the height of the pandemic because Americans were not traveling as much and the demand wasn’t there. But as summer approaches, prices normally go up, just not at the alarming rate the nation is seeing currently. During the lockdowns across the country last year, many U.S. oil producers cut production and have not raised it yet, which is also contributing to higher gas prices, according to Patrick DeHaan who is an analyst with Gas Buddy.

DeHaan remarked that “Americans are getting out more” as the nation opens up after lockdowns, “coupled with the fact that OPEC simply is not opening the spigot,” and these are all factors that are contributing to the rise in gas prices.

Organization of the Petroleum Exporting Countries (OPEC) leaders are still limiting exports. DeHaan sat down with Fox Business’ Maria Bartiromo and told her that “U.S. oil production is still over 2 million barrels lower than last year” and “OPEC is continuing its production cuts, not increases.”

Biden’s climate change agenda did away with the Keystone XL pipeline permit, as well as pausing new federal oil and gas leases. But the impact of those moves may not be fully felt for some time. However, the taxes and regulations that Biden is putting into place to further his climate agenda will ostensibly have a direct effect on the price of gasoline. Many U.S. producers cut production significantly during the pandemic and many others filed for bankruptcy protection. Thousands of jobs were lost.

Powered by Topple

Comments

Latest Articles