Record petrol prices in the US: who should carry the can? 

Conservatives are blaming Biden for the high cost of petrol as if there’s some ‘dial in the Oval Office’ that he uses to set prices

President Biden is taking flak for the hike
President Biden is taking flak for the hike
(Image credit: Paul Weaver/SOPA Images/LightRocket via Getty Images)

America broke a painful record last week, said Issues & Insights. The average price for a gallon of regular petrol crossed the $4.32 mark, surpassing the prior all-time high set in the summer of 2008. The White House is pretending that the soaring price is down to the Ukraine crisis, but don’t you believe it. It has just as much to do with its own war on America’s fossil-fuel industry. On his first day in the White House, Joe Biden killed off the Keystone XL pipeline that promised to bring in new oil supplies from Canada. Since then, he has blocked other drilling leases and permits. The truth is that the Democratic Party has long wanted petrol to be “priced as a luxury good”. Back in 2008, the man who would become Barack Obama’s energy secretary, Steven Chu, declared, “we have to figure out how to boost the price of gasoline to the levels in Europe”. Well, now their dreams have come true.

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