May 26, 2022

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE TRUNALIMUNUMAPRZURE:

● Shot: Biden praises high gas prices as part of ‘incredible transition’ of the US economy away from fossil fuels.

—The New York Post, Monday.

● Chaser: White House Eyes Restarting Idle Refineries.

The Biden administration is reaching out to the oil industry to inquire about restarting shuttered refineries, as the White House scrambles to address record-high gasoline prices that are setting off political alarm bells ahead of the midterm elections.

Members of the National Economic Council and other officials have inquired within the industry about factors that led some refining operations to be curtailed and if plans are underway to restart capacity, a person familiar with the matter said. The person, who wasn’t authorized to speak on the record, added no direct ask to restart operations was made.

The White House didn’t immediately respond to a request for comment.

The administration’s efforts come as the average price of a gallon of regular unleaded gasoline stood at a record $4.60 May 25, just as the summer driving season is set to begin. In California, prices are more than $6 a gallon, according to AAA.

Bloomberg News, today.

As Glenn asks in his latest New York Post column, “So does the Biden administration actually want to see middle-class Americans reduced to poverty and privation? Or is it just too stupid to foresee the obvious consequences of its own action? At this point, I’m not even sure which is worse. But with the midterms coming, no amount of talk about gun control, abortion or other Democratic hot-button issues is going to distract Americans from what’s happening to their pocketbooks. Good.”

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