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Former US Secretary of Energy Dan Brouillette provides an overview of President Biden’s policies.
Oil hit $ 80 a barrel on Friday intraday, a seven-year high that threatens to further increase energy costs for millions of Americans at the gas pump and this winter heating season.
For the week, NYMEX crude rose 4.57% to $ 79.35 and is up over 60% this year.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| USE | UNITED STATES PETROLEUM FUND LP | 55.47 | +0.11 | + 0.20% |
Brent, the global benchmark, hit the $ 83 level and gained more than 58% this year.
BIDEN’S WAVES OF SOCIAL SPENDING COULD START A BIGGER WAVE OF INFLATION: JEC REPUBLICANS
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| BNO | UNITED STS BRENT OIL FD LP UNIT | 21.75 | 0.00 | 0.00% |
In addition to affecting consumers, the rise in crude prices is another reflection of the delay taken by the United States as a world leader in energy.
“We became the biggest producer of oil and gas in the world, we were bigger than Saudi Arabia, we were bigger than Russia. really shocking, ”said Dan Brouillette, former US Secretary of Energy to President Trump in an interview with Larry Kudlow of FOX Business.
OPEC recently maintained production at current levels, despite growing demand due to the rebound of the ongoing pandemic and pressure from the United States
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Prices at the pump hit $ 3.26 per gallon, per AAA, the highest since October 2014.
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