As consumers continue to be slammed with higher energy bills, CEA’s David Holt looks at the negative implications of ideology-driven energy policies.
When gasoline prices surged in 2021, the Biden Administration first started tapping the SPR. It was just 11 months into a term that had seen the rapid rise in energy prices following the Administration’s open declaration of hostility toward the American oil and gas industry. The Russian invasion of Ukraine goosed prices higher, and the Administration again turned to the SPR in 2022 in an effort to show America that it was doing something to alleviate the pain at the pump. It drained the SPR to the lowest level in 40 years; while continued higher energy prices contributed to the highest inflation in 40 years.
Read more – Real Clear Energy
