(NewsNation) — Gas prices are at record highs, and that has made everything else expensive, too.
When Russia was sanctioned for its attack on Ukraine, gas immediately spiked.
More than a year after President Joe Biden unwound the Keystone XL project, support for the pipeline has surged in the U.S. in the wake of Russia’s invasion of Ukraine, according to a new poll by Maru Public Opinion.
Was Biden wrong to shut it down?
“Yes. It was a mistake. It was a strategic and a political mistake. It wouldn’t have helped today. Gas prices today wouldn’t be any different if Biden hadn’t canceled the permit. This is really about a strategic insurance policy for the next crisis to come along,” chemical engineer Robert Rapier said on NewsNation’s “Banfield.”
Oil prices are set by the global market, so they will go up regardless of the U.S. supply of oil, according to climate expert Elisabeth Moyer.
She says the issue with the Keystone pipeline is that when it was envisioned in 2008, we really needed it. However, now, the United States is a net exporter of oil.
“We were willing to suffer a lot of potential environmental harm to have oil which was seen as a strategic national interest because U.S. production was declining.”
“It’s a prehistoric idea, the keystone pipeline. We’re arguing over something that’s just not relevant to modern conditions,” Moyer added.
White House press secretary Jen Psaki argued this month that resuming the project would not increase the country’s supply of oil because it’s a transporter, not a drilling site.
Reports of gasoline thefts are also on the rise across the country as prices at the pump spike to new records.