President <a href="https://www.dailywire.com/topic/joe-biden" target="_blank" rel="noopener">Joe Biden</a> refused to answer on Friday why he waited until the final days of his administration — after he and Vice President Kamala Harris both failed to defeat President-elect Donald Trump during last year&#8217;s election — to enact new sanctions against Russia that he himself acknowledged will raise the price of gasoline.
CNN reported that the new sanctions targeting Russia&#8217;s oil industry were some of the &#8220;harshest sanctions to date meant to cut off funding for Moscow’s war against Ukraine.&#8221;
A reporter asked Biden at a press conference if he was concerned about prices going up and why he waited until today to impose the sanctions and not years ago.
&#8220;The sanctions are imposed today because they will have profound effect on the growth of the Russian economy and make it more difficult for Putin to conduct his wars,&#8221; Biden said in avoiding answering why he waited to issue the sanctions until just a few days before Trump takes office.
Biden claimed that the sanctions would only cause gas prices to go up by three to four cents per gallon.
The sanctions targeted Russia&#8217;s largest oil companies and hundreds of oil-carrying vessels, including those that are covertly carrying oil to avoid sanctions.
The administration said that the sanctions will cost Russia “upwards of billions of dollars per month.”
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The report said that oil prices &#8220;climbed sharply&#8221; once rumors surfaced that the sanctions were coming.
<blockquote class="twitter-tweet">
Reuters’s <a href="https://twitter.com/jeffmason1?ref_src=twsrc%5Etfw">@JeffMason1</a>: “Mr. President, you talked about gas prices coming down. You made today’s decision about sanctions against Russia. Are you concerned that that decision will perhaps lead to gas prices going up? And can you explain why those sanctions were imposed today and… <a href="https://t.co/cN1vGTseyE">pic.twitter.com/cN1vGTseyE</a>
— Curtis Houck (@CurtisHouck) <a href="https://twitter.com/CurtisHouck/status/1877857178263879736?ref_src=twsrc%5Etfw">January 10, 2025</a></blockquote>

US-POLITICS-FIRE-BIDEN

Biden Refuses To Answer Why He Waited To Issue New Russian Sanctions That Will Increase Gas Prices

Executive

Gas Prices

Joe Biden

Politics

Russia

Ukraine-Russia War

Nearly half of all Americans who have purchased an <a href="https://www.dailywire.com/topic/electric-cars" target="_blank" rel="noopener">electric vehicle</a> regret the decision and are planning to go back to driving a gas-powered vehicle when they make their next purchase.
The report from the consulting firm McKinsey &amp; Co. found that a staggering 46% of Americans who purchased an electric vehicle regret the decision and plan on making their next purchase an internal combustion engine.
The findings from the report counter narratives parroted by the Biden administration, Democrats, and the electric vehicle industry that EVs are the future and that buyers never regret their decision.
&#8220;I didn&#8217;t expect that,&#8221; said Philipp Kampshoff, leader of the consulting firm&#8217;s Center for Future Mobility. &#8220;I thought, &#8216;Once an EV buyer, always an EV buyer.'&#8221;
Kampshoff said that the findings were a serious &#8220;warning sign of the direction of travel&#8221; and that there was &#8220;a real stalling we’re seeing in the U.S. that we’re not seeing in other geographies.&#8221;
Globally, a third of the nearly 40,000 people surveyed said that they regretted their decision and planned to turn back to driving internal combustion engines.
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There are numerous reasons why drivers want to ditch their electric vehicles, including a severe lack of charging stations, their limited range and performance abilities, high purchase and maintenance costs, issues surrounding quality, and more.
The report comes as the EV industry has significantly cooled off over the last couple of years with some manufacturers having to declare <a href="https://www.dailywire.com/news/electric-car-company-fisker-files-for-bankruptcy-as-ev-market-continues-to-collapse" target="_blank" rel="noopener">bankruptcy</a> amid low demand for the vehicles. Numerous companies have been forced to <a href="https://www.dailywire.com/news/apple-ends-multi-billion-dollar-effort-to-build-electric-cars" target="_blank" rel="noopener">scrap their plans</a> to build EVs or <a href="https://www.dailywire.com/news/mercedes-scraps-plan-to-only-sell-electric-vehicles" target="_blank" rel="noopener">cancel their plans</a> to go all electric. An executive of another EV company was recently <a href="https://www.justice.gov/usao-sdny/pr/trevor-milton-sentenced-four-years-prison-securities-fraud-scheme" target="_blank" rel="noopener">sentenced</a> to federal prison for lying to investors about the abilities of his company.

New York International Auto Show Opens

Large Percentage Of Americans Regret Buying Electric Vehicles, Plan On Switching Back To Gas-Powered

Biden Administration

Economy

Electric cars

U.S.

California&#8217;s new gasoline price gouging law will end up raising prices at the pump for everyday Americans and could even limit the state&#8217;s energy supply, critics say.
Gas prices in California have already <a href="https://www.barrons.com/amp/articles/gasoline-prices-california-profits-cap-73601fa6" target="_blank" rel="noopener">topped</a> $5 a gallon this year due, in large part, to the state&#8217;s high taxes and tough regulations on the industry.
However, Democratic Governor Gavin Newsom blames his state&#8217;s expensive gas on greedy oil companies.
The governor wants to cap the profits of gasoline producers, but critics worry this will burden California refineries, who will, in turn, pass the costs onto drivers and push gas prices over $6 a gallon.
Last year, Newsom <a href="https://www.gov.ca.gov/2023/06/26/nations-first-gas-price-gouging-law-in-effect/" target="_blank" rel="noopener">signed</a> an anti-price gouging law that establishes an industry watchdog and increases scrutiny on oil companies.
&#8220;These new transparency laws will help us track refiners’ profits and shine a light on price manipulation so Californians aren’t vulnerable to the greedy whims of Big Oil,&#8221; Newsom <a href="https://www.gov.ca.gov/2023/06/26/nations-first-gas-price-gouging-law-in-effect/" target="_blank" rel="noopener">said</a> last year.
The California Energy Commission is currently considering the proposal to establish a penalty for gas producers who profit too much off of California drivers. Siva Gunda, the commission&#8217;s vice president, <a href="https://www.kcra.com/article/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future/60723615" target="_blank" rel="noopener">said</a> the commission has not found any clear evidence of price gouging so far, although he added that oil companies are indeed profiting off of the multiple gas price spikes California has seen in recent years.
&#8220;We are still in the process of evaluation the opinions of the experts we have,&#8221; Gunda said. &#8220;What we understand is there is a divergence of opinion.&#8221;
Earlier this month, California state senators <a href="https://www.kcra.com/article/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future/60723615" target="_blank" rel="noopener">held</a> an oversight hearing on the new law.
Industry leaders warn a profits penalty could not only raise gas prices but even drive gas companies out of the state and curb the state&#8217;s oil supply.
&#8220;Chevron is concerned about the impact a margin cap could have on gasoline supply. An ill-defined and arbitrary maximum margin for refiners will not lower gasoline prices this summer,&#8221; Chevron <a href="https://www.chevron.com/newsroom/2024/q2/california-regulations-could-cut-supply-raise-gasoline-prices-says-chevron-exec" target="_blank" rel="noopener">wrote</a> in a letter to the state&#8217;s energy commission.
Lawmakers on both sides of the aisle have also expressed concerns.
&#8220;Some of us come from very disadvantaged communities and they are the ones who bear the brunt of the cost hikes,&#8221; said state Senator Susan Rubio, a Democrat from just east of Los Angeles.
Even lawmakers in neighboring states worry their states could feel the effects of California&#8217;s gas penalty.
&#8220;We all need each other,&#8221; <a href="https://www.kcra.com/article/possible-gas-price-gouging-penalty-in-california-faces-uncertain-future/60723615" target="_blank" rel="noopener">said</a> Arizona state Rep. Justin Wilmeth, a Republican who attended the California oversight hearing this month.
&#8220;We need you for fuel, you need us for electricity, we all have to work together in the west,&#8221; Wilmeth said.
The commission is expected to vote on whether to start capping gas profits by the end of the year.

California’s Bay Area Continues To Have The Highest Gas Prices In The Country

California’s Gas Price Gouging Law Will Backfire, Critics Warn

California's Gas Price Gouging Law Will Backfire, Critics Warn

California

Energy

Gasoline

Gavin Newsom

On Tuesday, the <a href="https://www.dailywire.com/topic/biden-administration" target="_blank" rel="noopener">Biden administration</a> announced a decision to sell 1 million barrels of gasoline to the commercial market from a reserve in a bid to push down prices at the pump this summer.
The plan comes as President Joe Biden is running for a second term in the White House in this year&#8217;s November election while dealing with the <a href="https://www.dailywire.com/news/my-goodness-graphs-show-how-trump-dominates-biden-when-household-wealth-gets-hit-by-inflation" target="_blank" rel="noopener">scourge of inflation</a>, a fact that Republican officials noted in reacting to the decision.
&#8220;President Biden is yet again using America’s emergency fuel reserves to cover for his disastrous inflationary policies in an election year,&#8221; Sen. Mike Lee (R-UT) <a href="https://x.com/SenMikeLee/status/1792988544031494355" target="_blank" rel="noopener">said</a> in a post to X.
Stores from the Northeast Gasoline Supply Reserve (NGSR) will be sold in a &#8220;competitive bidding process&#8221; to help &#8220;lower costs for American families and consumers&#8221; in the run-up to Independence Day, per the Energy Department.
&#8220;The Biden-Harris Administration is laser focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” Energy Secretary Jennifer Granholm said in a statement.
“By strategically releasing this reserve in between Memorial Day and July 4th, we are ensuring sufficient supply flows to the tri-state and northeast at a time hardworking Americans need it the most,&#8221; she added.
Not mentioned in the press release was how the United States, <a href="https://www.eia.gov/tools/faqs/faq.php?id=23&amp;t=10#:~:text=In%202023%2C%20U.S.%20finished%20motor,U.S.%20gallons%20in%20a%20barrel)." target="_blank" rel="noopener">as recently as 2023</a>, was consuming an average of roughly 8.94 million barrels of gasoline each day.
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The Obama administration created the NGSR <a href="https://www.energy.gov/ceser/northeast-gasoline-supply-reserve" target="_blank" rel="noopener">in response to Superstorm Sandy</a>, which damaged refineries and terminals when it hit the northeastern United States in 2012, leaving some gas stations without fuel for weeks.
Because the Biden administration has also sapped the <a href="https://www.dailywire.com/topic/strategic-petroleum-reserve" target="_blank" rel="noopener">Strategic Petroleum Reserve</a> (SPR) in an attempt to stabilize global oil markets and <a href="https://rollcall.com/2022/10/19/biden-to-announce-more-oil-reserve-sales-to-reduce-gas-prices/" target="_blank" rel="noopener">combat rising gasoline prices</a>, some critics argued the president has placed the country at risk.
&#8220;Joe Biden’s failed Far Left Democrats anti-American energy agenda continues to compromise our national security,&#8221; said the X account for House Republicans, <a href="https://x.com/HouseGOP/status/1792987816558735636" target="_blank" rel="noopener">responding</a> to news of the planned NGSR release.
&#8220;This is ridiculous,&#8221; <a href="https://x.com/RepFeenstra/status/1792988417216655574" target="_blank" rel="noopener">said</a> Rep. Randy Feenstra (R-IA). &#8220;Instead of depleting our oil reserves, the President should support American energy production.&#8221;
He added, &#8220;He can start by calling on the Senate to pass the Lower Energy Costs Act and signing this bill into law so that we can lower gas prices for American families.&#8221;

President Joe Biden

Biden Admin Plans Election Year Summer Sale Of Gasoline From Reserves

Biden Administration Plans Election Year Summer Sale Of Gasoline From Reserves

Memorial Day

Strategic Petroleum Reserve

Prices last month were up 3.4% compared to April 2023, largely due to high gas prices and rising rent costs, according to the U.S. Bureau of Labor Statistics. 
The <a href="https://www.bls.gov/news.release/cpi.nr0.htm" target="_blank" rel="noopener">statistics</a>, released on Wednesday, show that prices in April rose 0.3% from March, with most of the increases coming from gas and shelter costs. Energy prices jumped 1.1% in April from March as gas prices remained elevated. April&#8217;s 0.3% monthly increase comes after back-to-back monthly increases of 0.4% in February and March. 
“The index for all items less food and energy rose 0.3 percent in April, after rising 0.4 percent in each of the 3 preceding months,” according to a summary of the Consumer Price Index. “Indexes which increased in April include shelter, motor vehicle insurance, medical care, apparel, and personal care.”
Fed Chairman Jerome Powell said on Tuesday that inflation so far in 2024 had been higher than expected. 
&#8220;We did not expect this to be a smooth road, but these were higher than I think anybody expected,&#8221; he <a href="https://www.usnews.com/news/economy/articles/2024-05-15/consumer-prices-cool-slightly-in-april-a-welcome-sign-for-the-fed-and-wall-street" target="_blank" rel="noopener">said</a>. &#8220;What that has told us is that we will need to be patient and let restrictive policy do its work.&#8221;
Inflation has been a consistent problem for President Joe Biden as he has campaigned for re-election on his &#8220;Bidenomics&#8221; message. Earlier this week, Biden <a href="https://www.dailywire.com/news/biden-caught-repeating-false-claim-about-inflation" target="_blank" rel="noopener">claimed</a> in an interview that inflation was at 9% when he became president back in January 2021. Inflation was actually at 1.4% when he became president and had jumped to over 9% in June 2022, a 40-year high. 
Polling from Gallup conducted last month <a href="https://news.gallup.com/poll/644690/americans-continue-name-inflation-top-financial-problem.aspx?utm_source=gallup_brand&amp;utm_medium=email&amp;utm_campaign=front_page_2_may_05142024&amp;utm_term=information&amp;utm_content=read_article_textlink_2" target="_blank" rel="noopener">showed</a> that over 40% of Americans named inflation or the high cost of living as the most important financial problem facing their family. 
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Former President Donald Trump has campaigned hard against Biden’s economic record, and one political action committee backing him <a href="https://www.dailywire.com/news/trump-pac-launches-interactive-website-to-show-how-food-prices-have-skyrocketed-under-biden" target="_blank" rel="noopener">launched</a> an interactive website for people to compare their grocery bills under Trump to those under Biden.
“New inflation data shows that since January 21, groceries are up 21.3%, rent is up 20.8%, electricity bills are up 28.5%,” MAGA War Room <a href="https://twitter.com/MAGAIncWarRoom/status/1790723211010686992" target="_blank" rel="noopener">posted</a> on X. “Auto insurance is up 52.1%, Eggs are up 43.5%, baby food and formula up 30.0%”

Gas Prices Rise On Record High Oil Costs

April Inflation Hits 3.4% As Housing, Gas Prices Remain High

Donald Trump

Inflation

<a href="https://www.dailywire.com/topic/gas-prices" target="_blank" rel="noopener">Hertz</a>, one of the largest rental car companies in the U.S., is dumping tens of thousands of electric vehicles from its fleet, citing low demand and high repair costs.
&#8220;The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US,&#8221; Bloomberg News <a href="https://www.bloomberg.com/news/articles/2024-01-11/hertz-to-sell-20-000-evs-in-shift-back-to-gas-powered-cars" target="_blank" rel="noopener">reported</a>. &#8220;EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.&#8221;
U.S. consumers have had serious concerns about the electric vehicle market ranging from the price of the vehicles and the serious lack of charging stations throughout the U.S. to electric vehicles experiencing dramatic losses in their driving range during weather conditions that feature extreme cold or heat.
“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said. “Efforts to wrestle it down proved to be more challenging.”
The company hopes that its decision to sell off 20,000+ electric vehicles better balances &#8220;supply against expected demand of EVs,” it said in a regulatory filing.
Morgan Stanley analysts said told Reuters that Hertz&#8217;s move should be a warning to the entire auto industry about the reality of the electric vehicle market, that they are not that popular and expectations for their growth need to be significantly reduced.
The news comes after nearly 4,000 auto dealers across the U.S. <a href="https://www.dailywire.com/news/3700-u-s-auto-dealers-push-biden-to-scrap-unrealistic-ev-mandate-low-demand-even-with-incentives" target="_blank" rel="noopener">said</a> in a letter to President Joe Biden late last year that his push to make two out of every three new cars sold by 2032 electric was highly unrealistic.
While there were good options for people wishing to buy electric vehicles, “the reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs [Battery Electric Vehicle] arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots.”
The dealerships said they’ve seen a drastic shift in demand for electric vehicles in just the last year and that they are arriving on their lots faster than they can be sold despite “deep price cuts, manufacturer incentives, and generous government incentives,” the letter said.
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“Mr. President, no government agency, no think tank, and no polling firm knows more about the automobile customer than us,” it continued. “Some customers are in the market for electric vehicles, and we are thrilled to sell them. But the majority of customers are simply not ready to make the change.”

Behind the Scenes at the “Hertz Let’s Go?” Campaign featuring seven-time Super Bowl champion Tom Brady and celebrating the company’s huge investment in Electric Vehicles

Hertz Dumping Tens Of Thousands Of Electric Vehicles, Replacing Them With Gas Vehicles

Republican presidential candidate <a href="https://www.dailywire.com/topic/ron-desantis" target="_blank" rel="noopener">Ron DeSantis</a> unveiled his energy agenda during an event in Midland, Texas, on Wednesday, promising that his policies will bring back $2 gas and turn the United States into the world&#8217;s leading energy producer.
DeSantis made the announcement after previously rolling out his <a href="https://www.dailywire.com/news/no-excuses-desantis-rolls-out-plan-to-shut-down-illegal-immigration-during-border-visit" target="_blank" rel="noopener">plan</a> to deal with the border crisis in June, his <a href="https://www.dailywire.com/news/desantis-unveils-plan-to-start-ripping-all-the-woke-out-of-the-military" target="_blank" rel="noopener">plan</a> to fix the U.S. military in July, and his <a href="https://www.dailywire.com/news/desantis-releases-his-10-point-declaration-of-economic-independence-policy-platform" target="_blank" rel="noopener">plan</a> to make America economically independent in August.
DeSantis&#8217; energy plan — dubbed &#8220;Freedom to Fuel&#8221; — includes six core components, including: Restore American Energy Dominance, Save the American Automobile, Elevate Evidence Over Ideology, Reform Environmental Permitting and End Green Lawfare, Jump-Start Critical Mineral and Federal Land Development and Build the Most Efficient, Affordable, and Reliable Energy Grid in the World.
&#8220;We have it in our power to reverse the country&#8217;s decline and engineer an incredible comeback for the American people,&#8221; DeSantis said at a Permian Deep Rock Oil Company drilling site. &#8220;And one of the ways we need to do that is by achieving American energy dominance.&#8221;
DeSantis&#8217; plan calls for cutting Biden-era regulations that are holding back oil and gas production, scrapping global climate agendas, allowing the U.S. to export energy as a way of creating global stability, pursuing nuclear energy, reversing electric vehicle mandates, eliminating subsidies for electric vehicles, stopping California from setting national standards, eliminating ESG regulations, greenlighting mining for rare earth elements on federal land, oppose all policies that increase reliance on China, strengthen the national grid, and <a href="https://twitter.com/TeamDeSantis/status/1704511348279792074">more</a>.
DeSantis said that Biden&#8217;s policies have &#8220;exacerbated the inflation that so many families have been laboring under for these last few years&#8221; and destroyed billions of dollars of economic benefits for Americans.
&#8220;So here&#8217;s what&#8217;s happening. On January 20th, 2025, there&#8217;s going to be a new sheriff in town,&#8221; he said in his nearly 40-minute speech. &#8220;As your president, I will restore our freedom to fuel. I will ensure that the United States of America is the dominant energy producer in the entire world. I will ensure that this country does not have to rely on hostile nations for its energy needs ever again.&#8221;
He also stressed the importance of letting Americans choose the type of automobile that they want to drive and &#8220;saving the traditional American automobile.&#8221;
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&#8220;Our self-imposed handcuffs on oil, gas, and critical mineral extraction will be removed,&#8221; he added. &#8220;The days of rolling blackouts and unreliable grids will be finished. To every American outraged by rising gas prices under Biden, and they are rising, and I think nationally, it is coming close to $4 a gallon. Our target goal in 2025, we want that gas at $2 a gallon, we certainly will move in that direction if we implement all these policies.&#8221;
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Republican Presidential Candidate Ron DeSantis Campaigns In Texas

DeSantis Proposes Plan He Says Will Achieve $2 Gas, Turn U.S. Into World’s Top Energy Producer

DeSantis Proposes Plan He Says Will Achieve $2 Gas, Turn U.S. Into World's Top Energy Producer

Oil and Gas

Ron DeSantis

Gas prices in some Southern California counties have skyrocketed to an average of over $6 a gallon, the first time they have been this high in nearly a year.
As of Tuesday, the average gas price of regular gasoline in Los Angeles and Orange counties was more than $6 a gallon — $6.027 in Los Angeles County and $6.022 in Orange County, <a href="https://abc7.com/gas-prices-la-county-refinery-problems/13800035/" target="_blank" rel="noopener">according</a> to data from the AAA and Oil Price Information Service.
It is the first time the price has topped $6 since October last year.
Both Southern California counties have seen average gas prices spike more than a dollar over the last two months. The average cost in Ventura County is $6 a gallon, while prices average $5.947 in San Diego County.
According to AAA, three California counties that border Nevada also average more than $6 a gallon: Alpine ($6.999), Mono ($6.508), and Inyo ($6.143).
Several factors have contributed to rising gas prices, including OPEC countries like Saudi Arabia <a href="https://apnews.com/article/opec-oil-prices-saudi-arabia-russia-8d70999cb8258aebc3edbfdfcae278b7" target="_blank" rel="noopener">slashing</a> oil production earlier this summer. The Saudis cut oil production by one million barrels per day starting in July, which caused crude oil prices to jump.
&#8220;Oil costs are putting upward pressure on pump prices, but the rise is tempered by much lower demand,&#8221; <a href="https://www.foxla.com/news/california-gas-prices-continue-to-skyrocket" target="_blank" rel="noopener">said</a> Andrew Gross, an AAA national public relations manager.
&#8220;The slide in people fueling up is typical, with schools back in session, the days getting shorter, and the weather less pleasant. But the usual decline in pump prices is being stymied for now by these high oil costs,&#8221; Gross said.
The national gas price average is currently $3.88 a gallon, 20.3 cents higher than a year ago. The national average hit a record $5.016 a gallon in late June last year.
The Biden administration this week touted gas prices falling from that peak.
“If you look at what we’ve been able to do from last summer to this summer — lowering gas prices by a dollar twenty cents, that is because of the work that this administration has done,” White House Press Secretary Karine Jean-Pierre <a href="https://www.nytimes.com/2023/09/13/business/biden-gas-prices-inflation.html" target="_blank" rel="noopener">said</a> this month.
Over the last year, the administration has repeatedly taken credit for the occasional dip in gas prices even as prices remained high and Americans struggled to keep up with the cost.
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A year ago in September, President Biden claimed that the average gas price was below $2.99 in 41 states and the District of Columbia. In fact, the average gas price at the time was only under $3.99, not $2.99.
After news outlets pointed out the error, the White House <a href="https://www.cnn.com/2022/09/23/politics/fact-check-biden-gas-prices-unemployment-rate/index.html" target="_blank" rel="noopener">corrected</a> the official transcript of Biden’s remarks to read the correct figure of $3.99.
&#8220;I&#8217;m going to get those gas prices down again, I promise you,&#8221; Biden <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">said</a> last week.
Critics have <a href="https://www.foxnews.com/media/biden-dragged-touting-gas-price-drop-americans-struggle-make-ends-meet-what-planet-on" target="_blank" rel="noopener">called on</a> Biden to take responsibility when gas prices rise, but the administration has not been eager to do so. Some have also pointed out that the national average gas price the day before Biden took office was $2.38, <a href="https://newsroom.aaa.com/2021/01/new-year-sees-gas-prices-steadily-increase/" target="_blank" rel="noopener">according</a> to AAA, over a dollar less than Thursday’s $3.83 average.
Meanwhile, gas prices were the <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">leading cause</a> of August&#8217;s 0.6% jump in inflation.
With election season kicking into gear, gas prices will likely be featured more prominently in the political conversation, especially the question of whether the Biden administration plays a role in keeping prices high.

US-ECONOMY-GAS-PRICES

Los Angeles’ Average Gas Price Tops $6 A Gallon

Los Angeles' Average Gas Price Tops $6 A Gallon

House Speaker Kevin McCarthy (R-CA) blasted President Joe Biden’s energy policies as an “attack” on American energy that is empowering our enemies. 
McCarthy said that “God has blessed” the United States with the ability to be energy independent during an <a href="https://catsroundtable.com/speaker-of-the-house-kevin-mccarthy-impeachment-of-president-biden-is-moving-forward/" target="_blank" rel="noopener">appearance</a> on WABC 770 AM’s “Cats Roundtable” with host John Catsimatidis on Sunday. He said the Biden administration&#8217;s push toward relying only on renewable energy is “helping our adversaries.” 
“They hurt America by cutting off what God has blessed this country to do, where we can be energy independent, raising the price of fuel, and what that does as well is raises inflation for everybody,” McCarthy said. 
The speaker explained that crude oil extends far beyond use in just cars, but is also used for making phones, shirt buttons, street pavement, and other items. McCarthy said under President Biden, the United States is “dependent” on foreign countries that are now upping the prices. 
“We want to be energy independent,” McCarthy told Catsimatidis, adding that American energy independence actually makes the environment “better” because American natural gas is “41% cleaner than Russian natural gas.” Energy independence also means more jobs for Americans, the speaker says. 
“The Biden administration has gone in and done an attack on the energy business, only wants renewable energy instead of all of the above, made the price of energy higher which you feel in New York, made inflation higher because the gasoline price is now higher, jet fuel price is higher, inflation gets added on compounded, so your food price is higher,” McCarthy explained. 
“This is mainly by his policy attacking American energy,” he added. “It doesn’t mean we buy less, it means we’re buying it from our enemies.”
On Thursday, crude oil <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">exceeded</a> $90 a barrel, the highest since November 2022, according to Axios. Gas prices have skyrocketed under Biden, reaching their <a href="https://finance.yahoo.com/news/gas-prices-hit-2023-highs-but-analysts-think-theyre-peaking-113206056.html" target="_blank" rel="noopener">highest levels</a> in 2023 last week. As of Sunday, the <a href="https://gasprices.aaa.com/" target="_blank" rel="noopener">average</a> cost of a gallon of gas is $3.87, a substantial increase from the $2.39 average <a href="https://www.cnn.com/2022/10/28/politics/fact-check-biden-gas-prices/index.html" target="_blank" rel="noopener">price</a> on the day Biden was inaugurated. 
&#8220;I&#8217;m going to get those gas prices down again, I promise you,&#8221; Biden <a href="https://www.axios.com/2023/09/14/oil-prices-chart-forecast-inflation-biden" target="_blank" rel="noopener">vowed</a> in a Thursday speech. 
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In 2020, under then-President Donald Trump, the United States became a net exporter of petroleum for the first time since 1949, <a href="https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php" target="_blank" rel="noopener">according</a> to the U.S. Energy Information Administration. In one of the final actions in his administration, seven ten-year oil and gas leases were <a href="https://www.foxnews.com/politics/biden-admin-axe-alaska-oil-gas-leases-backed-state-lawmakers-native-americans" target="_blank" rel="noopener">issued</a> in Alaska which spanned 365,775 acres in the Arctic National Wildlife Refuge, according to Fox News. Earlier this month, the Biden administration canceled all of those leases, citing climate change, angering local and state officials. 
&#8220;Having just spent more than a month home in communities across our state, there is palpable anger and frustration among Alaskans about the Biden administration’s unrelenting assault on our economy and our ability to lawfully access our lands,&#8221; Alaska Republican Senator Dan Sullivan told Fox. &#8220;This war on Alaska is devastating for not only Alaska but also the energy security of the nation,&#8221;
In March, the House <a href="https://thehill.com/homenews/house/3902279-what-is-in-house-republicans-energy-policy-package/" target="_blank" rel="noopener">passed</a> an energy package that aims to boost sales and production of oil and gas, speed up permitting reform, and repeal specific “Inflation Reduction Act” policies regarding climate change, according to The Hill. 
“This is all from Democratic policies from this administration not just hurting America and our economy, but helping our adversaries be stronger. That is why we need an American energy policy, which the House has passed, that makes America energy independent, utilizing all forms of energy from renewable, from nuclear, from oil and natural gas as well,” McCarthy <a href="https://thehill.com/homenews/house/4208241-mccarthy-hits-biden-on-energy-policies/" target="_blank" rel="noopener">told</a> Catsimatidis.

Speaker McCarthy

McCarthy Blasts Biden’s ‘Attack’ On American Energy, Says Policies Are ‘Helping Our Adversaries’

Congress

Kevin McCarthy

Georgia Republican Governor <a href="https://www.dailywire.com/topic/brian-kemp" target="_blank" rel="noopener">Brian Kemp</a> declared a state of emergency over inflation on Tuesday and suspended the gas tax in <a href="https://www.dailywire.com/topic/georgia" target="_blank" rel="noopener">Georgia</a>, saying federal spending and energy policies were to blame for high fuel prices. 
Kemp, who previously suspended the gas tax in the Peach State from March to December 2022, issued the emergency executive order as gas prices <a href="https://www.wsj.com/economy/august-cpi-report-inflation-slowdown-85936a0a#:~:text=Americans%20paid%20more%20at%20the,energy%2Ddata%20and%20analytics%20provider." target="_blank" rel="noopener">jumped</a> more than 10% higher in August from July. This was the highest month-to-month jump in over a year, according to the Wall Street Journal. 
&#8220;From runaway federal spending to policies that hamstring domestic energy production, all Bidenomics has done is take more money out of the pockets of the middle class,” Kemp <a href="https://gov.georgia.gov/press-releases/2023-09-12/gov-kemp-announces-gas-tax-suspension-georgians-face-sustained-inflation#main-content" target="_blank" rel="noopener">said</a>. “While high prices continue to hit family budgets, hardworking Georgians deserve real relief and that&#8217;s why I signed an executive order today to deliver it directly to them at the pump. Working with partners in the General Assembly, we&#8217;ll continue to help Georgians weather the economic headwinds caused by this president, his administration, and their allies in Congress.&#8221;
A gallon of regular gas in Georgia, on average, costs about $3.56, up from the $3.23 a gallon cost one year ago. A gallon of diesel, on average, costs about $4.36, down from last year’s costs of $4.68, <a href="https://gasprices.aaa.com/?state=GA" target="_blank" rel="noopener">according</a> to AAA.
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Gas prices have in part risen from production cuts from Saudi Arabia and the continuing war in Ukraine, but some critics have said that the Biden administration&#8217;s energy policies, which have <a href="https://www.dailywire.com/news/war-on-alaska-biden-admin-cancels-alaskan-oil-and-gas-leases-bans-drilling-on-millions-of-acres" target="_blank" rel="noopener">focused on</a> scrapping drilling and pushing green alternatives, have contributed to higher costs as well. 
According to Kemp’s office, the tax suspension will save drivers 31.2 cents per gallon on regular gasoline and 35 cents per gallon on diesel fuel. 
&#8220;I applaud Governor Kemp’s suspension of motor fuel taxes to keep our people and our economy moving despite Washington’s inaction on rising fuel prices,” said Georgia House Speaker Jon Burns (R). “Georgia’s success story is no accident – it is the result of conservative policies enacted to keep Georgia the nation’s best state for business.”
Kemp’s executive order, effective from Wednesday until October 12, said, &#8220;rampant inflation is negatively impacting Georgia’s economy and the social and economic wellbeing of its residents.”
Statistics from the Federal Bureau of Labor Statistics (BLS) <a href="https://www.dailywire.com/news/bidenflation-consumer-price-index-jumps-up-again" target="_blank" rel="noopener">revealed</a> on Wednesday after Kemp’s announcement indicate the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6% in August, rising 3.7% over the last 12 months.

Governor Of Georgia Brian Kemp Holds His Election Night Watch Party In Atlanta

Kemp Declares State Of Emergency Over ‘Bidenomics,’ Suspends Gas Tax In Georgia

Kemp Declares State Of Emergency Over 'Bidenomics,' Suspends Gas Tax In Georgia

Brian Kemp

Executive Orders

Georgia

Price tags at the pump are close to an <a href="https://www.dailywire.com/topic/gas-prices" target="_blank" rel="noopener">all-time high</a> as drivers hit the road this Labor Day weekend.
The national average price tag for regular gas <a href="https://gasprices.aaa.com" target="_blank" rel="noopener">sat</a> at $3.83 a gallon as of Thursday, according to AAA, when many holiday travelers were expected to start their drives.
Thursday&#8217;s price is just under the Labor Day record set in 2012 of $3.84 a gallon, federal data dating back to 1990 <a href="https://www.cnn.com/2023/08/31/business/gas-prices-labor-day-weekend/index.html" target="_blank" rel="noopener">shows</a>.
Back on Memorial Day at the end of May, the national average price for regular gas was 25¢ lower at $3.58 a gallon. Just before the Fourth of July, when millions of drivers traveled for the holiday, the average price was even lower at $3.55 a gallon.
“This is abnormal. Prices normally fade towards the end of the summer,” John LaForge, head of real asset strategy at the Wells Fargo Investment Institute, <a href="https://www.cnn.com/2022/09/23/politics/fact-check-biden-gas-prices-unemployment-rate/index.html" target="_blank" rel="noopener">told</a> CNN.
Several factors have contributed to rising gas prices, including OPEC countries like Saudi Arabia <a href="https://apnews.com/article/opec-oil-prices-saudi-arabia-russia-8d70999cb8258aebc3edbfdfcae278b7" target="_blank" rel="noopener">slashing</a> oil production earlier this summer. The Saudis cut oil production by one million barrels per day starting in July, which caused crude oil prices to jump.
In some states, gas prices are even higher than the national average.
Eleven states have average prices of over $4 a gallon or more, according to AAA, including California, Illinois, Washington, and Arizona.
Previously, the Biden administration has taken credit for the occasional dip in gas prices even as prices remained high and Americans struggled to keep up with the cost.
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A year ago in September, President Biden claimed falsely that the average gas price was down to less than $2.99 in 41 states and the District of Columbia. In fact, the average gas price at the time was only under $3.99, not $2.99.
After news outlets pointed out the error, the White House <a href="https://www.cnn.com/2022/09/23/politics/fact-check-biden-gas-prices-unemployment-rate/index.html" target="_blank" rel="noopener">corrected</a> the official transcript of Biden&#8217;s remarks to read the correct figure of $3.99.
Critics have <a href="https://www.foxnews.com/media/biden-dragged-touting-gas-price-drop-americans-struggle-make-ends-meet-what-planet-on" target="_blank" rel="noopener">called on</a> Biden to take responsibility when gas prices rise, but the administration has not been eager to do so. Some have also pointed out that the national average gas price the day before Biden took office was $2.38 <a href="https://newsroom.aaa.com/2021/01/new-year-sees-gas-prices-steadily-increase/" target="_blank" rel="noopener">according</a> to AAA, over a dollar less than Thursday&#8217;s $3.83 average.
With election season kicking into gear, gas prices will start to feature more prominently in the political conversation, especially the question of whether the Biden administration plays a role in keeping prices high.
Labor Day holiday travelers have already begun hitting the road. Thursday was expected to be the busiest day on the roads for the holiday weekend.
More than <a href="https://www.cbsnews.com/pittsburgh/news/labor-day-weekend-travel-best-times-to-hit-the-road-to-avoid-traffic/#:~:text=The%20Pennsylvania%20Turnpike%20is%20projecting,2.5%25%20increase%20from%20last%20year." target="_blank" rel="noopener">half</a> of all Americans are expected to travel for Labor Day this year, including millions by car. Experts say high gas prices will not deter holiday travelers.
&#8220;No matter how expensive gas prices are, when people decide to go on vacation, they just budget in the price of gas,&#8221; AAA spokesperson Andrew Gross <a href="https://www.cbsnews.com/news/labor-day-travel-idalia-impact/" target="_blank" rel="noopener">told</a> CBS News.
&#8220;They&#8217;re gonna take that trip,&#8221; he said.
The demand for travel is partially a result of pandemic, with more people wanting to travel this summer now that more COVID restrictions are lifted, <a href="https://www.cbsnews.com/news/labor-day-travel-idalia-impact/" target="_blank" rel="noopener">according</a> to analysts.

US-ECONOMY-GAS

Gas Prices Near All Time High This Labor Day

Biden

President <a href="https://www.dailywire.com/topic/joe-biden" target="_blank" rel="noopener">Joe Biden</a> touted his economic record and decreasing <a href="https://www.dailywire.com/topic/inflation" target="_blank" rel="noopener">inflation</a> during a speech in <a href="https://www.dailywire.com/topic/milwaukee" target="_blank" rel="noopener">Milwaukee</a>, Wisconsin, on Tuesday even as millions of Americans pay hundreds more for basic goods and services than two years ago.
Biden pointed to lower inflation even as a <a href="https://nypost.com/2023/08/14/inflation-forcing-americans-to-spend-709-more-per-month-versus-2-years-ago/" target="_blank" rel="noopener">new report</a> said that Americans paid $709 more dollars for basic goods and services in July 2023 than they did in July 2021, which was just months into Biden’s time in office. The spending was also $202 dollars more than July 2022, according to Mark Zandi, the chief economic analyst for Moody’s Analytics.
“In case you haven&#8217;t noticed, inflation is down, too — and it&#8217;s going lower,&#8221; Biden said during his Tuesday speech. The speech took place as Biden promoted his “Bidenomics” vision in <a href="https://www.dailywire.com/topic/wisconsin" target="_blank" rel="noopener">Wisconsin</a>, which will be a key 2024 battleground state in the race for the presidency.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
BIDEN: &quot;In case you haven&#39;t noticed, inflation is down, too — and it&#39;s going lower!&quot; <a href="https://t.co/RUArfFCleQ">pic.twitter.com/RUArfFCleQ</a>
&mdash; RNC Research (@RNCResearch) <a href="https://twitter.com/RNCResearch/status/1691514243189723136?ref_src=twsrc%5Etfw">August 15, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Biden also claimed in his speech that the U.S. had the strongest economy in the world.
&#8220;We have the strongest economy in the world. You&#8217;re looking at me a little skeptical, but I promise you. Check it out,” Biden said while speaking at a wind turbine factory.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
BIDEN: &quot;We have the strongest economy in the world! You&#39;re looking at me a little skeptical&#8230;&quot; <a href="https://t.co/fekdI5YJdF">pic.twitter.com/fekdI5YJdF</a>
&mdash; Townhall.com (@townhallcom) <a href="https://twitter.com/townhallcom/status/1691521332993757184?ref_src=twsrc%5Etfw">August 15, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Republicans have pointed to a decline in real wages and lingering <a href="https://apnews.com/article/biden-politics-inflation-economy-wisconsin-bidenomics-e665ae858f03f2d62cba65b6c4625d3f" target="_blank" rel="noopener">3.2% inflation</a>, which is <a href="https://www.washingtonexaminer.com/restoring-america/news/white-house/biden-takes-no-blame-for-inflation#:~:text=The%20inflation%20rate%20was%201.4,Reserve%27s%20target%20rate%20of%202%25." target="_blank" rel="noopener">nearly</a> 2% higher than when Biden first took office. Gas prices have jumped in recent weeks, hitting the highest prices seen in months. In the last several days, the national average has <a href="https://www.cnn.com/2023/08/14/investing/gas-prices-going-up/index.html" target="_blank" rel="noopener">increased</a> to $3.86 a gallon, the highest since October 19, 2022.
“Real wages are down and gas prices are up,” House Speaker Kevin McCarthy (R-CA) said on X. “You are paying the price for failed leadership.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Today, President Biden will tout his economic plan in Milwaukee, WI
“Bidenomics” costs Americans $709 a month to pay for the same goods they had just 2 years ago. Real wages are down and gas prices are up
You are paying the price for failed leadership <a href="https://t.co/xZQ6L4yiL9">https://t.co/xZQ6L4yiL9</a> <a href="https://t.co/tpjTijtFrW">pic.twitter.com/tpjTijtFrW</a>
&mdash; Kevin McCarthy (@SpeakerMcCarthy) <a href="https://twitter.com/SpeakerMcCarthy/status/1691509422571319311?ref_src=twsrc%5Etfw">August 15, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The president’s stop in Milwaukee came as Biden commemorates the passage of the so-called “Inflation Reduction Act,” a measure many economists said would not actually move the needle on inflation.
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“I can’t think of any mechanism by which it would have brought down inflation to date,&#8221; Harvard University economist Jason Furman <a href="https://abcnews.go.com/US/wireStory/inflation-inflation-reduction-act-deserve-credit-102232837#:~:text=“I%20wish%20I%20hadn%27t,people%20being%20able%20to%20meet" target="_blank" rel="noopener">told</a> the Associated Press.
Biden has also said that the law, which <a href="https://www.dailywire.com/news/bidens-green-energy-boondoggle-keeps-getting-bigger">dumped billions</a> into the green energy industry, shouldn’t have had an inflation related name.
“I wish I hadn’t called it that because it has less to do with reducing inflation than it has to do with providing alternatives that generate economic growth,” Biden said last week.

President Biden Delivers Remarks On Bidenomics In Milwaukee

Biden Touts Record On Inflation As Americans Spend Hundreds More Per Month

Milwaukee

Wisconsin

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