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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe price of regular gasoline broke $4 per gallon on average across the United States on Sunday for the first time since 2008.
During the first full week of Russia’s invasion of Ukraine, the price of regular gas rose by almost 41 cents, according to the AAA motor club.
That represents the second largest jump in average national prices in a week, GasBuddy reported.
The average gallon price for gas in Indiana as of Sunday was $4 per gallon, according to GasBuddy. The average in the Indianapolis area was $4.01 per gallon, with prices ranging from $3.69 to $4.09.
“As Russia’s war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.
The all-time high for average gasoline prices was set in July 17, 2008 at $4.10 per gallon.
Neither President Joe Biden nor Congress has moved to ban the import of Russian oil or place energy sanctions on the country, which could have major global economic repercussions.
On Sunday, California had the highest average price per gallon among U.S. states at $5.29, while Missouri had the lowest at around $3.60.
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This is about financial war rather than kinetic war. Brace yourselves for what’s to come
One word describes this global energy crisis, “unnecessary”. Politics have damaged individuals quality of life, in a big way, and unnecessarily. If only the US was producing a surplus of petroleum products, as it recently has produced, we would be in a position to deny Putin the large petroleum profits that reduce the effectiveness of recently imposed sanctions in response to Putin’s invasion of Ukraine and the many human rights atrocities that result from that invasion. It is immoral for the US to be purchasing Russian petroleum which helps him finance the invasion. President Biden could have reversed actions he took immediately upon being inaugurated, that resulted in an immediate decrease in energy production in the United States. He could have taken this responsible action months ago as US intelligence became aware of Putin’s plan to invade. The lumps he would have taken by admitting that he made a mistake to curtail energy production in this country would have been less than the lumps he is currently taking and will take for the foreseeable future. Green energy development and continued use of carbon energy are not mutually exclusive. Our government could remove regulations that reduce petroleum production, and at the same time bump the tax on petroleum products and use the increased tax revenue to fund development of cleaner energy technologies. We would have abundant and low cost energy needed now, and increased funding to develop tomorrow’s cleaner energy. If only we had leaders instead of politicians!
The problem with your missive is that it’s false. Fracking was allowing us to achieve energy independence, but most of the companies crashed when oil prices tumbled when Covid occurred(Trump was President). Keystone XL was tar sands from Canada heading to Texas ports for export overseas. Saw an article that Biden has approved more drilling leases than Trump had. So please come to the business journal with facts not fake news. https://www.washingtonpost.com/climate-environment/2022/01/27/oil-gas-leasing-biden-climate/
The guy saying to post facts, not fake news, then posts a WaPo article. Lol.
– Following its historic shift to being a net exporter of petroleum in 2020, the United States continued to export more petroleum (which includes crude oil, refined petroleum products, and other liquids) than it imported in 2021. (US Energy Information Administration)
– As of end of November, Biden administration has approved 3,091 new drilling permits on public lands at a rate of 332 per month, a faster pace than the Trump administration’s 300 permits per month. (CNBC)
– Baker Hughes rig count on January 22, 2021 – 378. Baker Hughes rig count on January 21, 2022 – 604, an increase of 60% over year one of administration. (American Oil & Gas Reporter)
– U.S. oil firms slashed production in 2020 as the coronavirus pandemic destroyed demand and supply has not yet recovered to pre-Covid levels. In 2019, the U.S. produced 12.29 million barrels of crude oil per day, according to the U.S. Energy Information Administration. That figure was 11.28 million in 2020 and is estimated to be 11.18 million in 2021 and 11.85 million in 2022. (CNBC)
Good one, Chuck. Spot-on.
Hey Chuck and Bob, stay out of the way and let the people with actual thoughts and opinions and research enlighten the rest of us.
Maybe Tucker or Laura will tell you how to think about this soon and you can come parrot their thoughts for us and pretend you’ve got something we all need to hear. Until then, Stadler and Waldorf do the heckler thing a lot better than you do.
Well, you do need enlightenment, Joe B; I’ll give you that! I’ll admit, it must be horrible to be a liberal today and face the of supporting and justifying a person as weak as Joe Biden…but, hey, at least there’s no more mean tweets, eh?
Try this on for size for your enlightenment:
https://townhall.com/columnists/kevinmccullough/2022/03/06/the-horror-of-bidens-weakness-n2604186?utm_source=thdaily&utm_medium=email&utm_campaign=nl&bcid=d66f5c52210298eb121a63a63ffa96de53c6d20cf75e413a369e006fc15e7e11&recip=19459823
You skipped a few years there, Bob.
Remember when Trump spread the lie that Ukraine interfered in the 2016 election? Or he withheld the congressionally appropriated aid to Ukraine in an effort to make them fabricate dirt on Hunter Biden, then fired the ambassador to Ukraine and put Rudy Giuliani in charge of that effort?
Or how about when he called NATO obsolete and sided with a dictator over America’s allies?
Is that your idea of toughness? Because those are the actions of an anti-American despot who sure seems like he wants to help Russia out. Why exactly is Donald Trump’s vision of America – a fauxmocracy like in Russia or Hungary – so appealing to so-called “conservatives”? Are you honestly delusional enough to think that throwing away democracy is OK because the government will enforce your policy choices on the world, and that’s ok? Because, surely, the government will never come for you?
You can keep calling me a liberal. I’m the same conservative I was in the 90’s. What’s changed is that the Republican Party has become overrun with people who hate democracy and are incapable of serious thought. It’s the party of clowns like Rokita or DeSantis or MTG or Jim Jordan who are missed their calling of being the junior assistant to the secretary of their local John Birch Society in the 50’s, whining about chlorine in the water or claiming civil rights is just a front for communism.
Maybe you’re projecting a bit much at who is “addled”. Give me a sane conservative like Eric Holcomb and I’ll vote for him. Republicans keep nominating terrible candidates and I’ll hold my nose and vote Democrat. To steal a phrase from P. J. O’Rourke, they’re wrong but they’re wrong within normal parameters.
Bob, as some of us look back and wistfully recall our last “strong” president:
Trump repeatedly praised Putin.
Trump hired a pro Russian criminal to run his campaign.
Trump said it was good Russia invaded Crimea.
Trump made the 2016 GOP platform anti-Ukraine.
Trump repeatedly dismissed Russian hacking.
Trump capitalized on Russian meddling in 2016.
Trump denied Russian interference in 2016.
Trump undermined Russian sanctions.
Trump was open to lifting sanctions.
Trump would never say Putin was a killer.
Trump tried to return spy bases to Russia.
Trump gave Russia classified intel.
Trump repeatedly attacked NATO.
Trump had to be forced into signing new Russian sanctions.
Trump pushed for a joint cyber security unit with Russia.
Trump thanked Putin for expelling US diplomats from Russia.
Trump eased sanctions on Putin’s top oligarchs.
Trump congratulated Putin on his sham election.
Trump tried to rescind sanctions on Russia for poisoning a defector.
Trump blocked a US statement condemning Russia’s invasion of Georgia.
Trump repeatedly praised far-right pro Russian leaders in Europe.
Trump refused to condemn Russia’s 2018 attack on Ukraine’s military.
Trump defended Soviet invasion of Afghanistan.
Trump pushed to let Russia in the G-7.
Trump gave Syria to Russia.
Trump echoed Russian talking points on ISIS.
Trump spread Russian lies about Ukraine.
Trump froze US aid to Ukraine.
Trump smeared US Ambassador to Ukraine.
Trump tried to visit Putin on Russian soil.
Trump gave Putin a PR victory on Covid.
Trump invited Putin to 2020 G-7 Summit.
Trump ordered CIA to share Intel with Russia.
Trump ignored warnings of Russian bounties on our soldiers.
Trump called Russian bounty story a “hoax.”
Trump never raised Russian bounties with Putin.
Trump ordered US troops out of Germany.
It’s as if Trump worked for Putin.
And, of course, we have this beautiful quote from Helsinki 2018 with cameras from all over the world rolling:
“My people came to me, Dan Coats came to me and some others saying they think it’s Russia. I have President Putin, he just said it’s not Russia,” Trump said. “I will say this, I don’t see any reason why it would be. I have great confidence in my intelligence people but I will tell you that President Putin was extremely strong and powerful in his denial today.”
That should be the quote Melania has engraved on TFG’s headstone
Good one, Tim. Spot-on.
*cough*
Quote: Give me a sane conservative like Eric Holcomb and I’ll vote for him. Republicans keep nominating terrible candidates and I’ll hold my nose and vote Democrat.
Great, Joe B. What a loyal patriot you are; I’m impressed with your rock-solid principles. Indeed, with RINOS like you in their hip pocket, the Dems can continue fronting all the ignorant, power-hungry, Soros-financed tools like Biden, Harris, and Pelosi they want, can’t they? And what a wonderful world it will be!
If your loyalty is to your party over your country, you’re doing democracy wrong, Bob.
And you might want to do your own research on what blaming Soros is code for.
People can complain about fuel prices or do something about it. I saw this coming and traded in our SUV for PHEV sedan in 2020.
Joe I don’t watch Fox. They are entertainers with a preset agenda just like WaPo, Gannett, and CNN to name a few. I subscribed to what I thought was a business journal and now on every article about the worst economy in 40 years, I get to watch you Democrats wail about how it’s not your fault.
You may have a point. If you listened to Fox you might be better informed. You must be getting your news where Bob gets his. Townhall.com …. About as good as dailykos. If you have specific complaints, make them, just don’t sit there and whine about the referee.
Worst economy in 40 years? Forget already about 2008-2009?
Women and children are getting killed as they try to flee by the troops led by a dictator in Russia and your complaint is you’re paying $4 a gallon for gas. The blame for gas prices lays with Putin, not Biden.
About the only complaint I have with the greatest generation, who saved democracy, is that they gave us the baby boomers who might end up being best known as the generation that blew up America. Then again, if I’d have seen what that generation did in warfare, I might struggle with parenting too.
Chuck,
Good article yesterday about the pitfalls of our modern habit of catastrophizing. Yes, inflation is a problem, but this is far from a bad economy, let alone the “worst economy in 40 years”. Some other economic facts from last year:
Initial unemployment claims – lowest levels in 50 years
BLS all-time record for lowest level of layoffs
6.5 M hired in year one
Back to pre-pandemic unemployment
The United States recovered its pre-pandemic level of income faster than all other G-7 countries
More US stock market highs in 2021 than any year since 1995
Fastest economic growth since 1984
Tim, facts are inconvenient to people motivated by feelings like fear, anger, and hatred.