Gas Prices Now at $5 a Gallon Average, $6.40 in California

[Flelm]

But really, let's look at supply and demand.  Just a year ago, we were energy-independent, and an oil exporter.  We were producing enough oil in this country to provide everyone with it, inexpensively.  Prices were extremely low (it was $1.62 when we moved to SC in July 2020).  The new administration shut down the Keystone pipeline, and made it impossible for oil/gas companies to plan ahead and invest in continued production.  You don't want to spend billions on an infrastructure that someone can shut down on a whim.  So, gas prices immediately went up.  We now are back to being an oil/gas importer, because we aren't producing enough for our own citizens.  We've become hostages to OPEC and the Saudis and freaking Venezuela.

Do you have sources? Because I do.

The Keystone Pipeline was never shut down. It's still running today, bringing oil from Canada (not the US!) to refineries across the US.

 

What was shut down was a planned expansion (never built) of the pipeline that would have brought more oil (from Canada) to the gulf coast refineries quicker, and that refined oil would then be (mostly) exported overseas.

The US was briefly a net exporter of oil in 2020 and 2021. Right now, we import the majority of our oil from Canada. 4.34 million barrels/day from Canada, 0.96 from OPEC, 0.69 from the rest of the Persian Gulf, 0.43 from all others. Sorry, 0.96 million barrels/day from OPEC (mostly Saudi Arabia), and 0.69 from all Persian Gulf countries (including 5 OPEC countries). So there's overlap there.

https://www.eia.gov/energyexplained/oil-...xports.php

We implemented sanctions on Venezuela in 2019, and in 2021 we imported no oil from them.

https://www.forbes.com/sites/kenroberts/...7e32d42e7c