The Biden team has enough to worry about over the open border and the next inflation report.  Now you can also bring on the rising cost of gasoline.  Up a dime a gallon in Idaho in recent days.  This is a reaction to oil markets and prices could keep rising until Election Day.  Check out this link from Oil Price.

Now, a caution.  The swings in oil costs have in recent years often befuddled the expert class and markets.  Predictions sometimes last only days before collapsing.

Here’s why this could be different.  Barring a worldwide recession, the supply is getting tighter.  The U.S. shale patch may have seen its unlimited growth come to an end.  And the government is making leases on properties it controls a difficult venture.

I had a grandfather on my dad’s side who managed oil fields.  Back in the day when there was little regulation and nobody in government put a thumb on the scale.  It doesn’t make me an insider, but I did listen to stories about the business.

From what I learned, I have a few predictions of my own.

Gasoline will be much costlier by November.  It won’t be as high as it was a couple of years ago.  The price will be a major factor in driving inflation and in the choices people make when voting.

President Trump will move to make it easier for drilling on federal lands and offshore.  The result will be an immediate drop in price and relief for consumers.  Make America Great Again!

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