To the Editor:
When you visit the gas pump to fill your SUV with $5 plus gas per gallon, and going up rapidly from there; call it Biden Gas!
During these tragic times with Russian imperialism in action, and the fact that the United States imports millions of gallons of oil from Russia; added to the fact that the cost of crude oil is over $100 a barrel on the world market (it was $40 a barrel under President Trump) and that price is projected to go up to possibly as high as $200 a barrel (translates to over $10 a gallon or higher) during the Russian invasion and the aftermath, we will be affected in a profound way. It doesn’t have to be this way.
When President Biden took office, one of his first executive order was to shut down the Keystone Pipeline. We, for the first time had achieved energy independence and became a net exporter of oil. We were no longer subject to the supply and pricing whims of the Middle East or, yes, Russia. But President Biden changed all that by stopping fracking and putting federal limits on exploration and production of fossil fuels. We soon became energy dependent on our adversaries and enemies.
So, we have President Biden to thank when the long lines waiting to fuel our vehicles with mind numbing prices per gallon cone to the gas station near you. Call it Biden Gas.
Energy costs directly affect inflation as well and it will drive interest rates into the double digits. You can thank President Biden for the inflationary spiral as well.
Larry Moran
Village of Mallory Square