Today’s Cheaper Gas Is The Calm Before 2023’s Storm

With some regions of America enjoying gasoline prices below $3 a gallon after a summer that saw the national average exceed $5 for the very first time, it’s tempting to lull oneself into thinking cheap gas will last. In fact, it won’t last for very much longer at all, especially with this administration’s never-ending hostility to the fossil fuel economy that provides over 80 percent of our energy.

Now add to this the troubling warnings from European Union leaders regarding the geopolitical consequences of President Joe Biden’s green fanaticism, specifically the ill-named Inflation Reduction Act he signed in 2022, a thinly disguised environmentalist wish list that reduces global temperatures little if at all.

Last week, EU trade commissioner Valdis Dombrovskis cautioned that the $369 billion bill could send the Euro bloc into the arms of communist China, rendering Beijing’s ongoing economic “overtures and propositions” more attractive. And earlier in December, French President Emmanuel Macron, visiting Washington, actually went so far as to say that the Democrats’ billions of dollars in green energy and electric vehicle subsidies will “fragment the West.” The European Commission says the United States’ massive green spending threatens the EU’s industrial base.

After the disastrous withdrawal from Afghanistan a year and a half ago, in which 13 American service personnel were killed, and the signal to friend and foe alike of U.S. impotency and ineptitude likely enticed Russia’s Vladimir Putin to invade Ukraine, sending a shock through global oil markets, an energy policy that ends up further empowering China would add insult to injury.

GasBuddy, which follows and reports prices at the pump throughout the country, projects that gas prices could rise drastically as early as May. Patrick De Haan, GasBuddy’s chief of petroleum analysis, told CNN, “The national average could breach $4 a gallon as early as May—and that’s something that could last through much of the summer driving season.”– READ MORE