Gas Prices Set to Reach $10 Per Gallon as Likely Recession Looms

1561
SHARE

For quite some time, $10.00 per gallon gas was something one would associate with a dystopian sci-fi movie; however, in Biden’s America, it’s an incoming reality.

Frank Macchiarola, the senior VP of American Petroleum Institute, has admonished the Biden administration for its role in the gas prices to come.

Macchiarola recently lamented how the White House expresses the need for more gas, while also working against this via its policies.

He also warned the best way to combat high prices of gas is with a federal offshore leasing program that covers a five-year span.

What to know about a likely recession in 2023

A number of economists from Deutsche Bank on down have cautioned that a recession is on its way within the next 12 months. Economists argue that a sizable factor in this shall involve the Federal Reserve upping the country’s interest rates.

Now, a brand new poll from Quinnipiac University shows most Americans agree with economists’ prognoses. Per the poll, 85% of Americans believe a recession will arrive within the next 12 months.