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Gas prices climb amid Biden’s pipeline closures

by capitalizefinancial
May 19, 2021
in Sports
0
Gas prices climb amid Biden’s pipeline closures

It could be a summer of pain at the nation’s gas stations due to surging fuel demand and the threat of potential pipeline shutdowns.

Gas prices are still climbing to decade-level highs jumping nearly 20% on Monday and registering pandemic-level highs according to new data from GasBuddy.

The national cost for a gallon of gas just passed the $3 dollar mark, averaging $3.04, and experts warn that closing more pipelines could continue to dry out supply and pump up prices.

“There is a possibility of more pipeline shutdowns,” FOX Business’s Phil Flynn told “Bill Hemmer Reports” of Fox News, but the long-time energy analyst adds not “because of terror attacks but because the Governor of Michigan wants to shut down another pipeline.”

According to Flynn, closing the Enbridge pipeline would be a disaster for gasoline prices that are only starting to stabilize after the shutdown of the Colonial Pipeline.

Governor Gretchen Whitmer is calling to close the Line 5 pipeline, owned and operated by Enbridge Inc., which has run crude oil through the cross-section of Lake Michigan.

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