“If there is one thing consistent about the oil and gas majors’ position on climate, it’s their utter inability to tell the truth.”
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Tag:
Gas Price
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Rising gas prices have been a major driver of inflation. A government report released last week showed that an increase in energy prices fueled a big jump in inflation in June, when the Consumer Price Index rose 9.1 percent from a year earlier, a new four-decade high. Gas prices soared after demand for oil rebounded from pandemic lows and Russia’s invasion of Ukraine drove up oil prices.
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The US would be a very different kind of economy if the president could simply turn on and off the faucet for oil.