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Image Credit: iStockPhoto.com, Lazy_Bear | US Secretary of Defense via Flickr | CC BY-SA 2.0 | (creativecommons.org/licenses/by/2.0/) Gas prices are on the rise nationally with just weeks until the midterm elections. President Joe Biden and his Democratic allies, fearing political fallout, are starting to panic — and are now reportedly considering a drastic policy response that would actually make everything worse.
“White House officials have asked the US Energy Department to analyze the possible impacts of a ban on exports of gasoline, diesel and other refined petroleum products, an indication that the controversial idea is gaining traction in some parts of the Biden administration,” Bloomberg reports .
This isn’t the Biden administration’s first flirtation with restricting gas exports. The idea is simple: By preventing companies from selling overseas, we’d have more here domestically and, hopefully, lower prices.
But the economy’s actual workings aren’t so simple. Industry executives and detached experts alike have […]
Read the rest of this story here: www.based-politics.com
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