John Bussey: High Gas Prices Under Biden Here to Stay for ‘a While’

‘You’re seeing oil prices and prices in general rise around the world’


BUSSEY: “The U.S. coordinated with several countries. It is unclear exactly what China is going to contribute to this in the end. When you release the oil from the oil reserve, it does not immediately get processed into gasoline peer therefore you have a surplus of gas gasoline that drives prices down. It does not work that way. It is very possible, that opec could decide come all right, these countries are decreasing the supply to the strategic petroleum reserves around the world. We are going to crimp supply a little bit to keep prices up. Why, because we like prices being up. It benefits us become a major oil producers. I don’t think you’re going to see a plummet in prices anytime soon.”

(via Fox News)

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