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CommentariesEnergyNews

Oil Analyst Blasts Biden Energy Policy and Predicts 45 Cent Increase in Gasoline Prices

Will this presidential election be the most important in American history?

Oil analyst Stephen Schork blasted President Biden over his energy policy and predicted gasoline prices can increase an additional 45 cents in the coming months.

During an interview on Yahoo Finance, Schork said it’s possible for oil to reach $100 a barrel and the cost of oil companies switching to summer blends will result in his estimate of a gasoline price increase of 40 to 45 cents per gallon in the summer.

Yahoo Finance video:

Schork also slammed Biden’s energy policy saying, “The White House is doing everything they can to keep and propel oil prices higher,” and he called Biden’s decision over releasing 50 million gallons of gasoline from the Strategic Petroleum Reserve to lower prices “a political stunt.”

He also noted Biden’s energy policy is discouraging capital investment in oil production.

CNN noted rising gasoline prices is a political problem for Biden, reporting, “President Joe Biden’s 2022 is off to a dreadful start. Prices at the pump could make it even worse.”

Knowing the political potential of high gasoline prices, Biden’s critics are pounding the president.

Higher gasoline prices in the summer just before the midterm elections will pose a huge political problem for Democrats.

Biden is already suffering from low approval ratings in polls and added energy costs affect middle-class and lower-class Americans the most regardless of political party.

Data Analysis, a progressive organization, showed the correlation between rising gasoline prices and Biden’s disapproval.

There is little doubt the rise in gasoline prices will hammer Biden and the Democrats in the polls leading up to the midterm elections.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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