Category: Economy

America Is Backsliding, and All of Us Will Pay for It

Until Friday, the U.S. had more permissive abortion policies than other advanced international democracies. Roe became law when abortion was still illegal in West Germany, France, Italy, Ireland, Spain, and Belgium. Most of our peer nations still don’t permit abortion on demand much past the first 12 weeks, whereas, until Friday, the U.S. permitted them up to the twenty-third […]

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Gas Prices Tumble, But How Low Will They Go?

WASHINGTON, D.C. (June 27, 2022)—A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of a potential global recession leading to less demand for oil dropped the price to around $107 per barrel, down from $110 […]

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1989-2001: America’s Long Lost Weekend

THE WORLD Looking back on the heady period after the fall of the Berlin Wall and the collapse of the Soviet Union in 1991, it might be tempting to ask, “Who lost Russia?” The truth was, of course, that Russia was never ours to lose. But dating back to the George H.W. Bush years, the […]

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The First Item on the G7 Agenda Should Be to Cancel the Global South’s Debt

Nations in the Global South are ready and willing to leave their fossil fuels in the ground; right now, they just can’t afford to. In 2007, for example, the newly elected president of Ecuador, Rafael Correa, pledged to leave untouched a vast amount of oil lying under the Yasuní national park. In return, he sought […]

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National Average Decreases as Crude Prices Decline

AAA Gas Prices Skip to content Today’s AAA National Average $4.940 Price as of 6/23/22 National Average Decreases as Crude Prices Decline June 23,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by four cents to $4.94. The Energy Information Administration will not release gasoline demand/supply and domestic oil inventory […]

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“We Should Be Graphic”: N.J. Governor Phil Murphy on How Democrats Should Respond to the End of Roe

Murphy: Again, it’s odious to even be thinking about this as a political matter. But elections have consequences. I think we should be exceedingly forthright about it. I don’t think we should shy away from using the word ‘abortion.’ Hit this squarely on the nose and call it for exactly what it is. I don’t […]

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“We Should Be Graphic”: New Jersey Governor Phil Murphy on How Democrats Should Respond to the End of Roe

Murphy: Again, it’s odious to even be thinking about this as a political matter. But elections have consequences. I think we should be exceedingly forthright about it. I don’t think we should shy away from using the word “abortion.” Hit this squarely on the nose and call it for exactly what it is. I don’t […]

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White House May Propose Gas Tax Holiday [Updated]

<img data-attachment-id="1663198" data-permalink="https://www.thetruthaboutcars.com/2019/02/short-term-shock-goldman-sachs-forecasts-an-oil-price-spike/shutterstock_1118002874/" data-orig-file="https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874.jpg" data-orig-size="1000,668" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"1"}" data-image-title="gas pump fuel pump shutterstock_1118002874" data-image-description=" CC7/Shutterstock ” data-medium-file=”https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-450×301.jpg” data-large-file=”https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-610×407.jpg” class=”aligncenter size-large wp-image-1663198″ src=”https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-610×407.jpg” alt width=”610″ height=”407″ srcset=”https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-610×407.jpg 610w, https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-75×50.jpg 75w, https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-450×301.jpg 450w, https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-768×513.jpg 768w, https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874-120×80.jpg 120w, https://www.thetruthaboutcars.com/wp-content/uploads/2019/02/shutterstock_1118002874.jpg 1000w” sizes=”(max-width: 610px) 100vw, 610px”> National fuel prices are currently averaging right around $5.00 per gallon in the United States. […]

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Dip in Oil Price and Gas Demand Gives Drivers a Break at the Pump

WASHINGTON, D.C. (June 21, 2022)—The national average for a gallon of gas fell below $5, bringing modest relief at the pump for beleaguered drivers. The primary cause is the tumbling cost of oil, which fell from $122 to around $110 per barrel due to fears of a global recession and its associated economic slowdown. As […]

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Beyond the Crash–Finding Patterns in a World of Uncertainty

Sadly we must say again, things are grim. And one of the grimmest parts of this moment is how uncertain everyone seems to be about what comes next. That includes Fed Chairman Jerome Powell, in his remarks this week after raising interest rates more than it had since 1994. The move aimed ostensibly to curb […]

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Pump Price Increases Ease as Gas Demand Dips

AAA Gas Prices Skip to content Today’s AAA National Average $5.009 Price as of 6/16/22 Pump Price Increases Ease as Gas Demand Dips June 16,2022 Since Monday, the national average for a gallon of regular gasoline has decreased by a penny to $5.00. According to new data from the Energy Information Administration (EIA), total domestic […]

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National Average Hits New All-Time High at $5 Per Gallon

WASHINGTON, D.C. (June 13, 2022)—The cost of a barrel of oil is over $120, nearly double last August’s price, as increased oil demand outpaces the tight global supply. Meanwhile, domestic gasoline demand remains robust as the summer driving season ramps up. As a result, the national average for a gallon of gas surged and is […]

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You Deserve the Good Life. Democrats Should Promise to Deliver It.

Democrats should be champing at the bit to steal it back; it’s a just cause with worthy enemies. And it’s easy to frame the GOP as the enemy of the Good Life. It has no interest in solving problems and no governing philosophy beyond padding the incomes of the rich and deregulating the world we […]

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Inflation Reaches New Highs As Biden Administration Urges Congressional Action

NewsOne Featured Video Source: NICHOLAS KAMM / Getty Inflation remains on the rise as the Bureau of Labor Statistics reported consumer prices hit a 40-year high. The agency released a statement pointing out that consumer prices rose to 8.6 percent in the past 12-months, with May marking the fastest rate of growth since 1981.  As […]

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National Average Increases Alongside Gas Demand and Oil Prices

AAA Gas Prices Skip to content Today’s AAA National Average $4.970 Price as of 6/9/22 National Average Increases Alongside Gas Demand and Oil Prices June 09,2022 Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total […]

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Does Biden Really Think the Saudis Will Help Him on Gas Prices?

But for Biden and countless U.S. presidents, placating authoritarian regimes in the Middle East is simply the easier path. Biden, who came to office pledging to restore human rights and support for democracy at the forefront of American foreign policy, has for the most part gone all in with America’s Middle East partners. On the […]

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Bezos Was Wrong and Biden Was Right: Taxing the Wealthy Will Help Tame Inflation

Bezos said such policies don’t have anything to do with inflation, but he was wrong. Biden’s proposed 39.6 percent marginal rate would tax income above $400,000, which, yes, sets the floor way too high, but would nonetheless capture a good chunk of those free-spending Five Percenters. As for the corporate rate, Summers explained, it’s generally […]

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Rising Oil Cost and High Demand for Gas Keep Pump Prices Surging

WASHINGTON, D.C. — The cost of a barrel of oil is nearing $120, nearly double from last August, as increased oil demand outpaces the tight global supply. Meanwhile, domestic gasoline demand rose last week in the wake of a robust Memorial Day weekend of travel. As a result, the national average for a gallon of […]

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Biden responds to Musk concerns about economy: ‘Lots of luck on his trip to the moon’

President Biden on Friday shrugged off Elon Musk’s pessimistic outlook on the economy, wishing the Tesla and SpaceX founder “lots of luck on his trip to the moon.” Musk reportedly wrote in an email to Tesla executives that he has a “super bad feeling” about the economy and that the company would need to slash […]

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National Average Rises as Cost of Oil and Gas Demand Increase

AAA Gas Prices Skip to content Today’s AAA National Average $4.715 Price as of 6/2/22 National Average Rises as Cost of Oil and Gas Demand Increase June 02,2022 Since Monday, the national average for a gallon of regular gasoline has increased by nine cents to $4.71. According to new data from the Energy Information Administration […]

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We Have Entered the Self-Pity Stage of the Biden Presidency

There is some truth to this. Democratic administrations have consistently delivered better economic results than Republican ones—and yet voters consistently believe the opposite. But Democrats have, despite producing better economic results, failed to deliver—for instance—answers to pressing problems like persistent inequality, despite running better economies. And, even when they have—as happened recently with the child […]

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For Pump Prices, Is This the Calm Before the Storm?

WASHINGTON, D.C. — A dip in gasoline demand provided drivers with a bit of stability at the pump, as the national average for a gallon rose less than three cents over the past week to reach $4.62. But this respite could be brief. Crude oil has moved above $115 a barrel due to fears of […]

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The Next Recession Will Make Income Inequality a Lot Worse

But the new research suggests that once the recession is over and income inequality, predictably, resumes growing alongside economic growth, that inequality will grow faster than before—merely because the recession occurred. Which means recessions do far more to worsen income inequality than to hinder it. That’s new. The latest study, released earlier this month, comes […]

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Weak Demand Takes Gas Out of Pump Prices

AAA Gas Prices Skip to content Today’s AAA National Average $4.600 Price as of 5/26/22 Weak Demand Takes Gas Out of Pump Prices May 26,2022 Since Monday, the national average for a gallon of regular gasoline has increased by a penny to $4.60. According to new data from the Energy Information Administration (EIA), total domestic […]

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Democrats Look to Women Voters to Save Their Bacon in the Midterms

While there is a gender gap in party support, with women overall tending to support Democrats in presidential elections, there are significant differences between women among lines of race, level of education, marital status, and class. “Women are not monolithic. They’re not monolithic as candidates, and they’re not monolithic as voters,” said Debbie Walsh, the […]

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Nowhere to Go But Up?

WASHINGTON, D.C. — The national average for a gallon of gas has not fallen for nearly a month. Gasoline has either remained flat or risen every day since April 24 and has set a new record daily since May 10.That was the day gas eclipsed the previous record high of $4.33, set earlier this year […]

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