Business

The energy secretary says she hopes gas prices do not reach $ 4




Energy Secretary Jennifer GranholmThe energy secretary says she hopes gas prices do not reach $ 4Jennifer GranholmGranholm highlights “really exciting” provisions in infrastructure bill at COP26 World Energy Ministers to meet in Pittsburgh next year Overnight Energy & Environment – Presented by The American Petroleum Institute – Biden official defends “carrots”[ads1]; -based approach MORE said on Sunday that she hopes gas prices will not reach $ 4 per gallon soon, adding that the Organization of the Petroleum Exporting Countries (OPEC) “controls the agenda”.

“According to AAA, the national average of gas prices is now $ 3.42 per gallon. Bank of America predicts that crude oil prices could rise another 50 percent by June next year. Can the average gas price in America soon be $ 4 per gallon in the United States?” “State of the Union” co-anchor Dana BashDana BashFive things to see in Virginia Governor’s race Buttigieg twins dress as “twin infrastructure” for Halloween officials, lawmakers express optimism about infrastructure, spending vote MORE Granholm asked on CNN.

“Well, we certainly do not hope so,” the energy secretary replied President BidenJoe Biden Virginia’s loss exposes Democrats’ battle with rural voters. After victory seeks Biden political decline Sunday shows preview: House passes bipartisan infrastructure bill; Democrats are suffering election losses in Virginia MOREis over this. “

“Of course, every president is frustrated because they can not control the price of gasoline because it is a global market. You can call for increased supply, which he has done, and OPEC unfortunately controls the agenda in terms of oil prices. OPEC is a cartel, and it controls over 50 percent of the gasoline supply, she added.

Granholm also noted that the OPEC countries decided last week to increase their supply, adding that it “will increase the throat on access to affordable fuel at the pump.”

She also acknowledged that Americans should expect to pay higher costs for heating their homes in the winter.

“W“e has the same problem with fuel that the supply chains have, which is that the oil and gas companies do not turn on the switch as fast as demand demands.”





Source link

Back to top button