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Gas Prices-E

04 Apr

Everywhere I turn, people are talking about the high cost of gasoline. As oil prices increase, businesses are forced to pay the increasing cost of shipping and must pass it on to the consumer through higher cost of products. Consumers must pay the higher cost of gasoline for getting to work and other important business, as well as the higher cost of products they buy. In addition, Americans are paying rising prices for home heating, yet many are not receiving any pay raises and many are facing reduced hours at work as companies must cut back production due to lower sales. President Biden turned from American oil to foreign oil setting off rising gas prices. He has now released oil from our reserves for the third time under the pretense of dropping the cost of fuel. Each time has been followed by a drop in prices for a couple days and then they return to rising. Oil is purchased on future estimates of oil available and draining our reserves does not change that. It will hurt us if we are drawn into a war or have a major hurricane shut down oil platforms for a while, or there is a break or malfunction in the pipelines that deliver oil. Energy independence instituted by President Trump lowered prices and helped protect us from the danger of oil shortage. As long as we are dependent on overseas oil, we are subject to higher prices and the threat of oil shortages.

 

 
 

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