Pres.Moron and the Dunce-o-crats' gross mismanagement of American energy supplies have led us into some perilous territory.
Pres.Moron has reduced us to begging OPEC, and Iran form oil, when just two+ short years ago, it didn't matter what they did or did not do; we didn't need their oil.
How times have changed...
Forget Gas Prices—Diesel Reveals the Real Crisis
As the Biden administration continues to drain the United States Strategic Petroleum Reserve (SPR) in a dubious gamble to suppress gas prices and win votes before the midterm elections, another fuel crisis is brewing.
While gasoline prices have indeed come down from this summer’s highs, diesel prices remain stubbornly elevated, and, more worrying, U.S. inventories have fallen to perilously low levels.
According to the Energy Information Administration (EIA), U.S. average retail diesel prices are up more than 45 percent year over year, to $5.34 per gallon. Wholesale diesel prices have spiked in the last few weeks, to more than $200 per barrel, 92.5 percent above last year’s levels.
The diesel market matters because it’s the lifeblood of our economy. Lest we forget, while gasoline fuels consumer mobility, diesel powers trucks, tractors, and all kinds of heavy equipment, not to mention freight trains and ships, which in turn power and eventually supply everything that we have come to depend on in the modern world. Whether it’s the U.S. food supply chain, in which more than 70 percent of all final goods are transported by diesel-powered trucks, underlying agricultural production, where farm equipment also runs almost exclusively on diesel, or the mining, drilling, and construction sectors—our critical industries rely on diesel. Put simply, if diesel supply breaks down, the U.S. economy will break down.
https://www.theepochtimes.com/forget-gas-prices-diesel-reveals-the-real-crisis_4819427.html
Pres.Moron has reduced us to begging OPEC, and Iran form oil, when just two+ short years ago, it didn't matter what they did or did not do; we didn't need their oil.
How times have changed...
Forget Gas Prices—Diesel Reveals the Real Crisis
As the Biden administration continues to drain the United States Strategic Petroleum Reserve (SPR) in a dubious gamble to suppress gas prices and win votes before the midterm elections, another fuel crisis is brewing.
While gasoline prices have indeed come down from this summer’s highs, diesel prices remain stubbornly elevated, and, more worrying, U.S. inventories have fallen to perilously low levels.
According to the Energy Information Administration (EIA), U.S. average retail diesel prices are up more than 45 percent year over year, to $5.34 per gallon. Wholesale diesel prices have spiked in the last few weeks, to more than $200 per barrel, 92.5 percent above last year’s levels.
The diesel market matters because it’s the lifeblood of our economy. Lest we forget, while gasoline fuels consumer mobility, diesel powers trucks, tractors, and all kinds of heavy equipment, not to mention freight trains and ships, which in turn power and eventually supply everything that we have come to depend on in the modern world. Whether it’s the U.S. food supply chain, in which more than 70 percent of all final goods are transported by diesel-powered trucks, underlying agricultural production, where farm equipment also runs almost exclusively on diesel, or the mining, drilling, and construction sectors—our critical industries rely on diesel. Put simply, if diesel supply breaks down, the U.S. economy will break down.
https://www.theepochtimes.com/forget-gas-prices-diesel-reveals-the-real-crisis_4819427.html
