The ecstatic celebration in America over gas prices falling by 30 cents a gallon is a bit ironic given that prices are still higher by $1.17 from last year at the same time. However, it calmed the noise and enthralled consumers with the false belief that the days of lower prices were back. But they have not yet arrived, and the best way to prepare is to not get too excited. Gas prices that are high could be a permanent thing.
If Joe Biden is removed, the successor, Republican, Democrat, or whoever, will be expected to immediately stop the high prices, they're bound to fail to achieve.
The demand of gasoline across the U.S. has risen, and electric vehicles that no one wants aren't helping as anticipated. This, along with climate change's depletion of the resources required to convert oil into gasoline is a problem that at this point, won't disappear.
Joe Biden promised to rigorously fight climate change, however, after assuming the presidency in 2020, America's production capacity for gas has fallen by more than 1 million barrels per day. That's an unprecedented collapse in two short years, and the consequences are irreversible.
The former National Security Council’s senior director of international energy under George W. Bush, Bob McNally, stated, “We are going to be operating a shrunken, old and in-need-of-repair refining system a lot harder. Future presidents and administrations are going to be absolutely bedeviled by high gasoline prices.”
Biden also promised to drastically reduce the country's fossil fuel use by means alternative methods of power production that haven't yet come into existence. Republicans aren't letting him forget about how his inability to address the crisis has removed any hope of recovery.
To avoid criticism, Biden fumbled with ways to make people feel reassured that he was doing the job. He removed tax to 18 cents per gallon tax on a weekend during the holiday season. The president then directed the nation’s Strategic Petroleum Reserve to release 1 million barrels of crude oil each day from its emergency reserve that is at risk of becoming depleted. It's a fact well-known by America's adversaries.
To add to the dismal situation, the Biden administration celebrated themselves for having pulled off the largest single-day drop in the price per gallon ever recorded, yet no one of their supporters was applauding.
The crowd was correct to not join the celebration. Any expert will know that sooner or later, these gas prices will rise to new historical heights.
However, there are other issues to be considered. For instance, Putin is likely to reduce Russia's oil exports into the U.S.
This is bad news, but things will be a lot worse than they were before they ever get better. The situation could have been prevented or even avoided. However, that would have required Joe Biden to act on promises that were not kept, and given the way we've witnessed the results, it's best to just hold on until we have a new administration. Votes will be required.
