High gas prices in America are caused by a mismatch between U.S. oil production and refining, bad policies or political hostility, and the Biden administration’s inaction, according to experts and oil industry insiders.
Inflation in the United States has been running high since March when the yearly Consumer Price Index (CPI) reached 8.5 percent, the highest level since 1981.
A dramatic increase in energy prices has drawn special attention.
Between May and August, energy prices raised between 20 percent to 40 percent annually.
President Joe Biden and the Democrats have proposed different solutions to the high energy prices, including a windfall tax for oil companies, urging gas stations to cut prices, imposing an oil export ban, and allowing countries to buy Russian oil with a price cap….