Having been accosted by an interoffice-mail-courier-come-global-oil-trade expert about gas prices being Biden’s fault, I took to Paul Krugman for a rational explainer:
[Republicans] want the public to give Trump credit for low prices in 2020, when demand for oil was low because Covid had the world economy on its back. They want voters to blame environmental concerns, which have blocked the Keystone XL pipeline and might block drilling on public land, for high prices at the pump right now — even though it will take years before these policy changes will have any effect, and that effect will be modest even then.
I suppose we shouldn’t be surprised. After all, we’re talking about a party that’s in denial about everything from climate change to vaccine effectiveness, so what’s a bit of economic nonsense thrown into the mix? But somehow I find myself shocked all the same. For you don’t need scientific understanding or even rudimentary statistical analysis to see that President Biden can’t possibly be responsible for high U.S. gasoline prices; all you need to do is spend five minutes looking at what’s happening in the rest of the world.