Gas prices are advertised Jan. 28, 2022, in Santa Clarita, Calif. President Joe Biden is warning Americans already exhausted by inflation at a 40-year high that gas prices could get higher if Russian President Vladimir Putin chooses to invade Ukraine. (AP Photo/Marcio Jose Sanchez, File)
AP: High gas costs from Ukraine threat pose Biden political risk
WASHINGTON (AP) — With the continuing threat of Russia invading Ukraine, a foreign policy crisis is colliding with one of President Joe Biden’s political vulnerabilities: Rising gasoline prices at home.
Americans are already dismayed by Inflation at a 40-year high, and Biden is warning that gas prices could get higher if Russian President Vladimir Putin chooses to invade. It’s a recognition of Biden’s own risks ahead of the 2022 midterm elections: Inflation has become an albatross for Democrats despite the nation’s strong economic growth last year.
“We’re prepared to deploy all the tools and authority at our disposal to provide relief at the gas pump,” the U.S. president declared Tuesday. “We are taking active steps to alleviate the pressure on our own energy markets and offset rising prices.”
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WNU Editor: In all fairness the price of gas was increasing before the Ukraine crisis exploded a few months ago .... Retail gasoline prices rose across the United States in 2021 as driving increased (EIA).
But it is true that if sanctions are imposed on Russia, the impact on energy prices will be enormous and global, and there will be political consequences.
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