Due to OPEC production cutbacks, global oil prices surged to $87 a barrel this week.
This means gas prices will soon rise well above $4 a gallon nationally.
Our best estimate, based on data from the Department of Energy’s forecasts, is that if we had stuck with Trump policies , by today the United States would’ve produced roughly another 1.2 billion to 3.5 billion more barrels since Biden took office.OPEC production cuts and price hikesThe chart nearby shows pre-pandemic and the pre-Biden projections of oil production by the end of 2023 versus the actual drilling that has happened under Biden.
More bitter irony: These price spikes come even as Biden has just canceled drilling on several million acres of prime oil and gas lands in Alaska.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kenya's hard won gains against malaria threatened by surging temperaturesThere are fears that the deadly disease is spreading to new communities in the country – and just at a time when the development of the world’s first mosquito vaccine is raising hopes malaria could one day be eradicated.
Read more »
Marco Rubio says payments to Bidens are 'more serious problem' than Hunter's gun chargesFlorida Sen. Marco Rubio breaks down the larger issues in the Hunter Biden case, saying it is 'common sense' that Hunter received millions off of the Biden name.
Read more »
RSV Cases Are Surging, But New Tools Available To Fight The VirusAs Covid-19 cases rise in many parts of the country, another virus is also surging.
Read more »
Why youth unemployment is surging in China'Mad Money' host Jim Cramer talks recent turbulence with mega cap stocks.
Read more »
The Real Reason Behind Surging 30-Year Treasury Yields: ExplainedBonds Analysis by Alfonso Peccatiello covering: United States 10-Year, United States 30-Year, BetaPro US 30 year Bond 2x Daily Bear, 10-2 Year Treasury Yield Spread. Read Alfonso Peccatiello's latest article on Investing.com
Read more »
Floods, heat waves, hurricanes, wildfires surging worldwide this yearNatural disasters have caused approximately $194 billion in global losses during the first half of 2023.
Read more »