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WHAT ARE the political and economic causes that have driven fuel prices to record highs under the Biden administration? In the latest episode of the Lo Que Importa podcast, our Spanish co-editor-in-chief Vanessa Vallejo reflects on this issue and the importance of distrusting politicians and their supposed good intentions.
In the last year alone, according to the American Automobile Association (AAA), the average price of fuel nationwide has increased by nearly $2 per gallon.
In an alleged effort to combat rising prices, President Biden has released oil from the national reserve, despite warnings from experts. Moreover, the Democrat has blamed energy companies for the high cost of fuel and blamed Russia and its invasion of Ukraine for inflation.
Biden also asked Congress for a tax break to suspend gasoline taxes for three months. Again, experts warned that the measure will not have an effect on the price Americans pay at the pump.
Meanwhile, other measures of the Democratic administration are having an effect on gasoline prices: they are increasing them. For example, canceling the Keystone XL pipeline at the beginning of his term. Later, Biden stopped new leases for oil and gas extraction under the excuse of climate change.
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