Biden’s energy policy is sending us toward recession
With the travel-heavy Memorial Day weekend upon us, the fast-rising cost of gasoline is getting a lot of attention. Last week, gasoline rose above $4 a gallon in all fifty states. That’s the first time that has happened. Some are predicting gas could reach $6 a gallon this summer. If that comes to pass, the average American family could see a major impact on their budgets. (It might be noted as well, that the price of home heating oil has nearly doubled this year. If that continues, the economic impact next winter, especially in the northeast, where a high percentage of homes are heated by oil, will be considerable.) The threat of a recession is rising thanks to fuel shortages. Why has the price of gasoline risen so far so fast?