Gas Prices Up 18% Since Election, Could Surpass $4 Under Biden

By the time America gets back to work, and traffic jams, gas prices under the Biden administration could be heading back to $4 thanks to new climate regulations, the president’s shutdown of energy mining on federal lands, and overseas production cuts.

Industry experts believe that as the coronavirus vaccine becomes widely available, offices will start to fill up, as will gas stations.

But the supply may not be there because of production cutbacks, Biden’s new rules, and moves overseas to slow production to match low usage.

The result could be an “oil price trap” for the new president, according to Steven Kopits, the managing director of Princeton Energy Advisors.

Read more at Washington Examiner.

{Matzav.com}