Gas Prices and Travel
Funny gas prices and travel meme says “Me: I really want to travel. Bank account: Like…to the back yard?” The fact is, the energy policies are draining our pockets.
@lifegoalinvestments ⛽️Labor Day weekend travelers- BRACE YOURSELF. Gas Prices Currently at 1 Year High & Likely Going Higherrrr 😬😬 Here’s why… Last year, Joe Biden approved the use of our Strategic Petroleum Reserve (SPR). The SPR are large oil storage tanks controlled by the Gov’t to bring down prices in ‘emergency scenarios.’ The SPR increased the supply of oil in 2022 and brought down prices. But our SPR levels are now the lowest in 40 years. 😬 More recently gas prices have shot back up- with the national average at about $4/gallon, the highest level in a year. And now, the Biden administration just said they will begin refilling the SPR- effectively taking supply of oil out of the market to put back in these emergency tanks. Reducing the supply of oil when gas prices are at 1 year highs… What’s that likely going to do to gas prices⁉️ How will it impact inflation⁉️ How will it impact the likelihood of a recession⁉️ Let me know. 👇 #gasprices #gas #biden #economy #inflation #recession #finance #travel #economics #politics #democrat #republican #fossilfuels #policy #supplyanddemand #spr #financetiktok #financetok #political #politicaltiktok #lifegoalnation #lifegoalinvestments
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