GAS PRICES

Unfortunately I filled up yesterday and if I had waited until today it would have been significantly cheaper. The price of a barrel of oil dropped from $130/barrel to $97/barrel and gas prices have dropped accordingly. I have been waiting for Biden to claim credit for it but haven’t seen it yet, but make no mistake by tomorrow he will be claiming the success of his feckless energy policies. He had absolutely no effect on what’s going on. The real reason is that China has locked down close to 100 million people to pursue its zero Covid agenda and closed down a significant part of its economy as a result. The end result is that the oil speculators feel that this will curtail the demand for oil because the Chinese will need significantly less due to their closing down a significant portion of their economy. This has absolutely nothing to do with anything Magoo did but you wait until tomorrow when they will claim success.