In this video, we take a look at who’s really to blame for the high gas prices. What factors determine gasoline prices and look at a brief breakdown of where the cost of gasoline is calculated. Then we’ll look at the recent soaring of gas prices since the Russian invasion of Ukraine. Then we take a look at what President Joe Biden has done since being in office that might influence what people blame him for, including revoking the KeystoneXL pipeline permit. Then we look into what the oil companies have been doing to potentially pad their profits and slow the production of oil in order to return cash to shareholders. Lastly, we mention the recent announcement by President Joe Biden to release 1 million barrels a day for the next six months from the Strategic Petroleum Reserve to help offset the cost of gasoline. We also look at other current political events that are surrounding this hot topic.
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