Gasoline prices at the pump have always fluctuated within a regular epicycle of global oil prices, but the Biden administration’s every policy choice from its first day in office has contributed significantly to this week’s news that gas prices exceed $4 a gallon in all 50 states.
President Biden and the Democrats seem determined to repeat every policy mistake of the 1970s, and it might not end until Biden attempts to impose price controls and rationing. Start with Biden’s cancellation of the Keystone XL pipeline on Inauguration Day. This act was more shocking than merely the loss of unionized jobs and an insult to our largest trading partner; it is the first time to my knowledge that any president has canceled a private-sector project that was already under construction.
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