The Philadelphia Inquirer editorial board is telling people not to attribute soaring gas prices to President Joe Biden.
In a piece titled “Don’t blame Biden for higher gas prices,” the editorial board pointed to Russia’s invasion of Ukraine, as well as supply and demand factors related to the COVID-19 downturn as reasons for the high cost of fuel.
“Current pump prices are due largely to the basic economics of supply and demand. Much of the global economy shut down during the pandemic, and oil prices plummeted as demand evaporated virtually overnight,” the piece states. “As demand dried up, oil companies cut back on production and exploration. When the economy bounced back, demand for oil increased but production has not been able to keep pace. With demand far outstripping supply, prices have skyrocketed.”
The piece said that Biden’s Build Back Better spending proposal contained “tax credits for wind and solar power” and “an extension of Biden’s child tax credit, which provided $300 in monthly payments to help struggling families, which could offset some of the pain they’re feeling at the pump.”
“Voters wanting to cast blame might want to turn their attention to Sen. Joe Manchin (D.-W.Va.) and the Republicans in the House and Senate who opposed efforts to boost green energy and support the child tax credit. These high gas prices aren’t Joe Biden’s fault,” the editorial board declared.
Biden has urged Congress to suspend the federal gas tax. Such a move would not lead to substantial savings for financially beleaguered drivers because the federal gas tax is a bit higher than 18 cents per gallon, while the AAA national average price for a gallon of regular gas was $4.94 as of Thursday.
“Make no mistake about it, President Biden’s assault on our energy industry has caused gas prices to skyrocket in Pennsylvania and harmed thousands of jobs across the country,” tweeted Dr. Mehmet Oz, a Republican who is currently running for a U.S. Senate seat in the Keystone State.
— Dr. Mehmet Oz (@Dr. Mehmet Oz)