As the White House publicly promotes falling gas prices, behind the scenes, officials worry prices could rise again.
“There hasn’t really been a policy that we can point you to that has helped the situation. When the executives met with the White House over the last few months, their primary message was don’t make it worse,” said Geoff Moody, vice president for government relations for the American Fuel and Petrochemical Manufacturers. “There were a lot of things that they were considering that they have not done that would have really exacerbated the situation.
Although gas prices have dropped from earlier this summer, they are still close to pre-pandemic highs. A gallon of gas is around 75 cents higher than it wasand more than a dollar above where it was in 2019 before the pandemic caused demand to tumble and oil producers and refiners to slash production.
While touting the recent decline, administration officials acknowledge that prices could rise again, though they expect prices to fall slightly more as demand typically drops in the fall. “This is a global market. Anything could happen, especially as it relates to what’s going on in Russia and Ukraine," one administration official said.from the U.S. Energy Information Administration that forecast prices dropping to $3.
One step the administration is looking to take to encourage oil companies to increase production is to guarantee that they will be able to sell their oil to the U.S. government at a fixed price as it begins to restock some of the barrels Biden sold off from the Strategic Petroleum Reserves. In the past, the federal government has paid the market rate when the oil is delivered, which could be more or less than the price when the contract was signed.
The administration has also been trying to hammer out a deal with other European and Asian allies to impose a price cap on Russian oil to bring down gas prices and cut into the Kremlin's revenue. The countries
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
How the meatpacking industry skirted COVID safety regulations with the help of the White HouseThe nation's meatpacking companies skirted COVID safety regulations. And they did it with the White House's help, according to a little known Congressional report. So how’d they get away with it? OnPointRadio has the story:
Consulte Mais informação »
Trump Left White House With 'Roughly Two Dozen' Boxes of Documents Meant for National ArchivesA new report in the New York Times confirms that former president Donald Trump accumulated around two dozen boxes of documents in his White House residence prior to leaving office and failed to return them to the National Archives.
Consulte Mais informação »
California voters want Biden to step aside — and see Newsom as a top contender to succeed himCalifornians overwhelmingly do not want President Biden to seek another term and see Democratic Gov. Gavin Newsom as a prime contender to succeed him, according to a new poll.
Consulte Mais informação »
One in 10 Bay Area neighborhoods is ‘highly segregated’ enclave of White wealth, new report saysThe Bay Area Equity Atlas found that the most segregated communities are in San Mateo, Marin and Contra Costa counties.
Consulte Mais informação »