On gas prices, a Democratic lawmaker says, “Buck Stops With the President,” but the White House avoids responsibility.


On gas prices, a Democratic lawmaker says, “Buck Stops With the President,” but the White House avoids responsibility.

As the White House tries to avoid blame for rising gas and oil costs, Democratic Virginia Representative Abigail Spanberger said, “the responsibility ends with the president.”

“There are a variety of contributing factors [that effect gas prices], but the President has the primary responsibility,” Spanberger told KTUL-TV. “And I’m glad to be one of the legislators on Capitol Hill that continues to sound the alarm about the gravity of the situation.” Jennifer Granholm, the Secretary of Energy, told reporters on Tuesday, “The price of gasoline is not under the control of the president. No president has ever done so.” Her remarks came on the heels of Democratic Vice President Joe Biden’s approval of the release of 50 million barrels of crude oil from the United States’ Strategic Petroleum Reserve (SPR). The release was approved by Biden in an effort to lower soaring petrol costs across the country.

According to Spanberger, Biden should appoint a supply chain czar to control the federal oil and gas supply, as reported by the aforementioned network.

According to analysts, rising gas prices are the result of two fundamental factors. Due to decreasing production in the United States, gas supplies have been limited. In addition, other major oil-exporting countries have grown their domestic gas production only marginally.

Last week, Biden asked for a probe into whether higher costs are due to “anti-consumer activity by oil and gas industries.”

Gas prices have nearly reached an all-time holiday high this Thanksgiving.

According to GasBuddy, a website that measures gasoline prices, the national average price for a gallon of petrol by Thanksgiving will be $3.35. Last Thanksgiving, the national average was $2.11, thus this year’s price is $1.24 higher.

It’s certainly feasible that if oil prices climb before Thanksgiving, the national average will hit its highest level since $3.44 a gallon in 2012.

Despite Biden’s authorisation to access the reserves, experts say his action may not result in a significant reduction in national costs for most Americans.

The rise in gas costs has also coincided with supply chain challenges, resulting in higher food and retail prices.

The problem with the supply chain began with workplace closures and the economic depression brought on by the COVID-19 epidemic. Manufacturing and delivery were delayed due to a labor shortage. People and companies were concerned about shortages of necessary items due to the delays, which prompted them to buy. This is a condensed version of the information.


Leave A Reply