With every passing day, gasoline prices rise higher and higher.
The average price of gasoline today nationwide is $3.411, with California boasting the highest price in the country at $4.687 for regular gasoline and $4.997 for premium.
This will hit people hard, and Senator Chuck Schumer (D-N.Y.) finally seems to understand that if Biden does not do something about this soon, it will be devastating for the Democrat Party.
Do Something, Joe
When Donald Trump was president, gasoline prices were about half of what they are right now.
And believe me, Biden can tout all the freebies he wants, but when people are pulling $160 out of their wallet to fill up their tanks rather than $80, they notice that far more.
Biden’s policy to curtail domestic drilling is largely the problem here, as we are now completely reliant on OPEC to set the market.
To make matters worse, stories are now breaking that Biden is set to unveil yet another oil drilling restriction, which will only drive prices higher…
$10 gasoline, baby! https://t.co/5hbo0pGNqR
— Ted Cruz (@tedcruz) November 15, 2021
Ironically, it could be Donald Trump that saves Joe Biden from complete and utter failure on this front.
When oil prices had bottomed out, Donald Trump ordered the reserve to be topped off.
The reserve is meant for true times of crisis, but Schumer wants Biden to tap into it now to score some political points.
Schumer stated, “Let’s get the price of gas down right now, and this will do it.
“We’re here today because we need immediate relief at the gas pump and the place to look is the Strategic Petroleum Reserve.”
Energy Secretary Jennifer Granholm responded, “The president is all over this.
“He really is very concerned about inflation, obviously, and the price of gasoline because that’s the most obvious manifestation of it.
“And as you know, no president controls the price of gas. Oil is sold on a global market. It is, as we see — as everybody’s coming out of COVID there is a huge increase in demand.
“The supply has not caught up.
“So, the president is looking at the limited tools that he has.
“I have nothing to announce on this, but know he is looking and evaluating all of his options, limited though they may be in the United States.”
She also hinted that Biden is looking at possibly tapping into the reserve, but that could be a critical mistake if Biden were to do that this early in the season.
As bad as the situation is, if we tap into and empty our reserve, what happens if supply has still not caught up to demand at the height of the winter?
What happens when there is no oil supply to heat homes or the cost is even higher and we have no means to offset it?
The answer is really simple… lift the restrictions on domestic drilling and this problem goes away by the new year.
Once again, Joe Biden has painted himself into a no-win corner.
The green initiatives of this administration have ensured that regardless of the path he takes from here, he takes yet another loss.
The worst path, politically speaking, is the move to tap into the reserve, as it will immediately gives Trump something to take credit for.
You better believe that if Joe Biden hits the reserve and tries to take credit for lowering prices, it will be Donald Trump and his allies that are front and center reminding everyone who topped off the reserve when prices were at rock bottom.