Joe Biden decided to post a ‘simple’ chart showing crude oil versus gas prices in an attempt to prove that oil companies are gouging prices. I guess that was the plan but his chart just proved that HE is the problem.
“When the cost oil comes down,” Biden scolded, “we should see the price at the pump come down as well. That’s how it should work. But right now, refiners and retailers are making record profits at the expense of the vast majority of Americans. It’s unacceptable.” Biden then attached a chart to back up his claim that the two have become somehow de-linked and therefore proves his price-gouging accusations.
I think if you look at it, you’ll notice that crude oil costs vs gasoline prices are right in-line. Biden didn’t prove anything other than that there is a shortage—That he’s helping along by refusing to drill.
Look at it for yourself:
It’s simple: When the cost of oil comes down, we should see the price at the pump come down as well. That’s how it should work.
But right now, refiners and retailers are making record profits at the expense of the vast majority of Americans. It’s unacceptable. pic.twitter.com/h3xiyEYEdv
— President Biden (@POTUS) October 19, 2022
Conservative commentator Matt Whitlock blasted Biden saying, “Another one to file under “White House digital team not understanding charts.” Unless they’re *trying* to show that refiners and retailers are actually tracking really closely with the price of crude oil and everything is still Joe Biden’s fault.”
Another one to file under “White House digital team not understanding charts.”
Unless they’re *trying* to show that refiners and retailers are actually tracking really closely with the price of crude oil and everything is still Joe Biden’s fault. https://t.co/P0VZwIx33T
— Matt Whitlock (@mattdizwhitlock) October 19, 2022
The US stockpile is at a 38-year low. We are facing some Jimmy Carter days ahead unless something changes, soon.
The amount of oil in the SPR is down by roughly a third — 36% to be exact — since Biden took office in January 2021. That has left this emergency oil stockpile at its lowest point since June 1984 — a time when both the US economy and energy demand was significantly smaller than today.
Biden’s currently hoping to purchase some oil to replenish the stockpile at $72 dollars a barrel. Just for reference, Trump had bartered a deal to purchase oil at $20 but Democrats blocked the transaction—Hense the situation we are all now in.
Erica Carlin is an independent journalist, opinion writer and contributor to several news and opinion sources. She is based in Georgia.
