Neighborhood Ministries

Many people are upset at the rise in prices at the gas pump. Gas is almost double what it was a year and a half ago. By canceling the pipeline and restricting American oil production, it forced the oil companies to turn to Russia and the Arab countries to make up the difference. Since then, the price of oil has steadily risen and the money for the oil is flowing into their coffers, not into the American economy. Foreign oil costs more and leaves us vulnerable if they decide to raise the price of oil. President Trump had expanded America’s oil production and freed us of dependence on foreign oil cutting oil prices from $4.00 a gallon under President Obama to $1.75 a gallon. Now it is over $3.30 a gallon again and rising. We have seen a new rise in oil prices as the United States faces off with Russia over the Ukraine and Russia raises the price of oil. President Biden made another stupid move in an attempt to shore up his failing presidency. He released oil reserves from the national reserve in an attempt to drive down rising oil prices. It has been attempted in the past and never reduced gas prices because gas prices are based on potential supply and drawing on reserves does not increase the potential supply. It actually reduces the potential supply and resulted in price increases.