{"id":1678173,"date":"2022-10-07T12:08:39","date_gmt":"2022-10-07T16:08:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1678173"},"modified":"2022-10-07T12:09:06","modified_gmt":"2022-10-07T16:09:06","slug":"biden-has-new-plan-to-lower-gas-prices-that-will-backfire","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-has-new-plan-to-lower-gas-prices-that-will-backfire\/","title":{"rendered":"Biden Has New Plan to Lower Gas Prices That Will Backfire"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-has-new-plan-to-lower-gas-prices-that-will-backfire%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1678173&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>    Biden&#8217;s latest idea to lower gas prices will backfire spectacularly &#8211; Based Politics<br \/>\n    <meta \/><br \/>\n    <meta content=\"width=device-width, initial-scale=1.0\" \/>\n    <link rel=\"pingback\" href=\"https:\/\/www.based-politics.com\/xmlrpc.php\" \/>\n    <meta content=\"index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1\" \/><\/p>\n<link rel=\"canonical\" href=\"https:\/\/www.based-politics.com\/2022\/10\/07\/bidens-latest-idea-to-lower-gas-prices-will-backfire-spectacularly\/\" \/>\n\t<meta content=\"en_US\" \/><br \/>\n\t<meta content=\"article\" \/><br \/>\n\t<meta content=\"Biden&#039;s latest idea to lower gas prices will backfire spectacularly - Based Politics\" \/><br \/>\n\t<meta content=\"Gas prices are on the rise nationally with just weeks until the midterm elections. President\u00a0Joe Biden\u00a0and his Democratic allies, fearing political fallout, are starting to panic \u2014 and are now reportedly considering a drastic policy response that would actually make everything worse. \u201cWhite House officials have asked the US Energy Department to analyze the possible [\u2026]\" \/><br \/>\n\t<meta content=\"https:\/\/www.based-politics.com\/2022\/10\/07\/bidens-latest-idea-to-lower-gas-prices-will-backfire-spectacularly\/\" \/><br \/>\n\t<meta content=\"Based Politics\" \/><br \/>\n\t<meta content=\"https:\/\/www.facebook.com\/BradPolumbo\/\" \/><br \/>\n\t<meta content=\"2022-10-07T15:20:51+00:00\" \/><br \/>\n\t<meta content=\"https:\/\/cndimages.nyc3.cdn.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2022\/07\/biden-stock-market-1024x536-1.png\" \/><br \/>\n\t<meta content=\"1024\" \/><br \/>\n\t<meta content=\"536\" \/><br \/>\n\t<meta content=\"image\/png\" \/><br \/>\n\t<meta content=\"Brad Polumbo\" \/><br \/>\n\t<meta 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recovery<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"td-outer-wrap\" class=\"td-theme-wrap\">\n<div id=\"tdb-autoload-article\" data-autoload=\"off\" data-autoload-org-post-id=\"5635\" data-autoload-type=\"\" data-autoload-count=\"5\">\n<div class=\"td-main-content-wrap td-container-wrap\">\n<div class=\"tdc-content-wrap\">\n<article id=\"template-id-2817\" class=\"post-2817 tdb_templates type-tdb_templates status-publish post\" itemscope itemtype=\"https:\/\/schema.org\/Article\">\n<div id=\"tdi_69\" class=\"tdc-zone\">\n<div class=\"tdc_zone tdi_70  wpb_row td-pb-row\">\n<div id=\"tdi_78\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_79  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_81  wpb_column vc_column_container tdc-column td-pb-span9\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_featured_image tdi_82 tdb-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_82\">\n<div class=\"tdb-block-inner td-fix-index\">\n<figure><figcaption class=\"tdb-caption-text\">Image Credit: iStockPhoto.com, Lazy_Bear | US Secretary of Defense via Flickr | CC BY-SA 2.0 | (creativecommons.org\/licenses\/by\/2.0\/)<br \/>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"vc_row_inner tdi_85  vc_row vc_inner wpb_row td-pb-row\">\n<div class=\"vc_column_inner tdi_87  wpb_column vc_column_container tdc-inner-column td-pb-span12\">\n<div class=\"vc_column-inner\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_author tdi_88 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_88\">\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-author-photo\" href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_date tdi_89 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_89\">\n<p><time class=\"entry-date updated td-module-date\" datetime=\"2022-10-07T11:20:51-04:00\">October 7, 2022<\/time><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_content tdi_92 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_92\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>Gas prices are on the rise nationally with just weeks until the midterm elections. President\u00a0Joe Biden\u00a0and his Democratic allies, fearing political fallout, are starting to panic \u2014 and are now reportedly considering a drastic policy response that would actually make everything worse.<\/p>\n<p>\u201cWhite House officials have asked the US Energy Department to analyze the possible impacts of a ban on exports of gasoline, diesel and other refined petroleum products, an indication that the controversial idea is gaining traction in some parts of the Biden administration,\u201d\u00a0<i>Bloomberg<\/i>\u00a0<u><a class=\"Link  stylish-link\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-04\/white-house-seeks-gasoline-export-limit-study-amid-price-fears?leadSource=uverify%20wall\" target=\"_blank\" rel=\"noopener\">reports<\/a><\/u>.<\/p>\n<p>This isn\u2019t the Biden administration\u2019s first flirtation with restricting gas exports. The idea is simple: By preventing companies from selling overseas, we\u2019d have more here domestically and, hopefully, lower prices.<\/p>\n<p>But the economy\u2019s actual workings aren\u2019t so simple. Industry executives and detached experts alike have explained why this move would likely backfire \u2014 spectacularly.<\/p>\n<p>\u201cBanning or limiting the export of refined products would likely decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. allies during a time of war,\u201d oil industry insiders warned in a\u00a0<u><a class=\"Link  stylish-link\" href=\"https:\/\/www.api.org\/~\/media\/Files\/misc\/AFPM-Granholm-Letter-on-Refined-Product-Exports\" target=\"_blank\" rel=\"noopener\">letter<\/a><\/u>\u00a0to the Biden administration this week.<\/p>\n<p>You don\u2019t have to take their word for it.<\/p>\n<p>A\u00a0<u><a class=\"Link  stylish-link\" href=\"https:\/\/www.dallasfed.org\/research\/economics\/2022\/0104\" target=\"_blank\" rel=\"noopener\">study<\/a><\/u>\u00a0from the Dallas Federal Reserve analyzed the idea and concluded that \u201cthere is no reason to expect that U.S. consumers would benefit from such a ban.\u201d Why?<\/p>\n<p>\u201cOne important point this proposal overlooks is that the prices of gasoline and diesel in the United States are determined by their prices in global markets since the U.S. trades diesel and gasoline,\u201d the study explains. \u201cBecause a cessation of U.S. crude oil exports would lower the supply of oil in global markets and raise its price, one would expect global fuel prices, if anything, to increase as a result.\u201d<\/p>\n<p>\u201cIn other words, the prices of gasoline and diesel fuel in the U.S. would not be expected to decline and might actually increase, rendering the crude oil export ban not only ineffective, but also counterproductive,\u201d the authors conclude.<\/p>\n<p>Other studies have reached similar conclusions.<\/p>\n<p>The inescapable reality is that Biden can\u2019t do much to lower gas prices in the next few weeks before the election. (He has already\u00a0<u><a class=\"Link  stylish-link\" href=\"https:\/\/www.forbes.com\/sites\/rrapier\/2022\/09\/07\/the-strategic-petroleum-reserve-is-at-its-lowest-level-since-1984\/?sh=79bfb98177c7\" target=\"_blank\" rel=\"noopener\">dangerously lowered<\/a><\/u>\u00a0the country\u2019s strategic reserves.) His <u><a class=\"Link  stylish-link\" href=\"https:\/\/www.washingtonexaminer.com\/opinion\/three-things-biden-has-done-that-increased-gas-prices\" target=\"_blank\" rel=\"noopener\">anti-energy policies<\/a><\/u>\u00a0have certainly contributed to elevated gas prices, but they\u2019re never fully within any president\u2019s control, heavily depending on international factors.<\/p>\n<p>Yet none of this has stopped Biden from repeatedly taking credit for the slight downtick in gas prices over the last few months. Now, he\u2019ll have to accept blame for the rise \u2014 and no drastic acts of policy desperation can get him off the hook.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/restoring-america\/faith-freedom-self-reliance\/bidens-plan-to-cut-gas-prices-will-backfire\" class=\"stylish-link\">This article originally appeared in the Washington Examiner.<\/a><\/p>\n<h4><span><strong>WATCH<\/strong>: <a href=\"https:\/\/youtube.com\/watch?v=-NEiMuSxxQk&amp;t=510s\" class=\"stylish-link\">Candace Owens rants about \u2018the homosexuals\u2019 \ud83d\ude33 (reaction)<\/a><\/span><\/h4>\n<div class=\"epyt-video-wrapper\">\n<div id=\"_ytid_64849\" data-origwidth=\"696\" data-origheight=\"391\" data-facadesrc=\"https:\/\/www.youtube.com\/embed\/-NEiMuSxxQk?enablejsapi=1&amp;autoplay=0&amp;cc_load_policy=0&amp;cc_lang_pref=&amp;iv_load_policy=1&amp;loop=0&amp;modestbranding=1&amp;rel=0&amp;fs=1&amp;playsinline=0&amp;autohide=2&amp;theme=dark&amp;color=red&amp;controls=1&amp;\" class=\"__youtube_prefs__ epyt-facade epyt-is-override  no-lazyload\" data-epautoplay=\"1\"><img decoding=\"async\" class=\"epyt-facade-poster\" alt=\"YouTube player\" src=\"https:\/\/cndimages.nyc3.cdn.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2022\/10\/maxresdefault-3.jpg\" \/><button class=\"epyt-facade-play\" aria-label=\"Play\"><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"vc_column tdi_95  wpb_column vc_column_container tdc-column td-pb-span3 td-is-sticky\">\n<div class=\"wpb_wrapper\">\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_98 tdm-content-horiz-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_98\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Sign up for Our Email List<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wpb_wrapper td_block_wrap vc_raw_html tdi_101\">\n<div class=\"td-fix-index\">\n<link href=\"\/\/cdn-images.mailchimp.com\/embedcode\/classic-10_7.css\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<p>*By signing up for our email you consent to getting our emails directly in your inbox. These including our newsletter or other informational emails*<\/p><\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_102 tdm-content-horiz-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_102\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Our Latest Podcast<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_106 tdm-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_106\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Related articles<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_113\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_114  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_116  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"tdb-author-box td_block_wrap tdb_single_author_box tdi_119 tdb-content-vert-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_119\">\n<div class=\"tdb-block-inner td-fix-index\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-photo\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/p>\n<div class=\"tdb-author-info\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-name\">Brad Polumbo<\/a><\/p>\n<p>Brad Polumbo is a libertarian-conservative journalist and co-founder of Based Politics. His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor\u2019s degree in economics from the University of Massachusetts Amherst.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>                    <span class=\"td-page-meta\" itemprop=\"author\" itemscope itemtype=\"https:\/\/schema.org\/Person\"><meta itemprop=\"name\" content=\"Brad Polumbo\" \/><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" \/><\/span><meta itemprop=\"datePublished\" content=\"2022-10-07T11:20:51-04:00\" \/><meta itemprop=\"dateModified\" content=\"2022-10-07T11:20:51-04:00\" \/><meta itemscope itemprop=\"mainEntityOfPage\" itemtype=\"https:\/\/schema.org\/WebPage\" itemid=\"https:\/\/www.based-politics.com\/2022\/10\/07\/bidens-latest-idea-to-lower-gas-prices-will-backfire-spectacularly\/\" \/><span class=\"td-page-meta\" itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\"><span class=\"td-page-meta\" itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/2022\/10\/07\/bidens-latest-idea-to-lower-gas-prices-will-backfire-spectacularly\/\" \/><\/span><meta itemprop=\"name\" content=\"Based Politics\" \/><\/span><meta itemprop=\"headline\" content=\"Biden&#039;s latest idea to lower gas prices will backfire spectacularly\" \/><span class=\"td-page-meta\" itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/cndimages.nyc3.cdn.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2022\/07\/biden-stock-market.png\" \/><meta itemprop=\"width\" content=\"1800\" \/><meta itemprop=\"height\" content=\"942\" \/><\/span>                <\/article>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Biden&#8217;s latest idea to lower gas prices will backfire spectacularly &#8211; Based Politics<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1678173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1678173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1678173"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1678173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1678173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1678173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1678173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}