Gas CRISIS- Experts Drop Bombshell Warning
Gas prices have rapidly increased over the last year.
Currently, Americans are paying an average of $4.70 per gallon of regular gas.
Some are concerned there could be a gas shortage in the future.
An expert is now warning shortages could be worse than in the 1970s.
(NewsReady.com) – Soaring gas prices are hurting consumers across the globe. As Europe and the US continue to tighten the screws on Russia, those prices are expected to remain high. Just recently, Europe reached an agreement on a number of Russian gas and oil restrictions. Back in the US, prices shot up 40 cents in a single day in some parts of the country.
An international expert is now warning the gas crisis might get even worse for Americans and Europeans.
In a Der Spiegel interview published on May 31, International Energy Agency Executive Director Fatih Birol said there could be gas shortages over the summer. He explained the coming months are the main vacation season for the US and Europe; that will drive demand up, but the increased need for fuel will likely cause shortages. He believes those shortages will hit European nations particularly hard.
Birol went on to say the fuel shortages could be worse than what the world experienced in the 1970s. That’s because, during that shortage, it was just an oil issue, but now it would be an “oil crisis, a gas crisis, and an electricity crisis simultaneously.”
On Wednesday, June 1, President Joe Biden discussed fuel prices, admitting there isn’t much he can do to bring them down. Republicans have called on the president to pass policies that will completely open up the country to drilling to try to relieve the pressure. While he has started to allow more drilling leases for federal lands, a policy he previously rejected, the POTUS hasn’t done much else on that front.
1970s Fuel Shortage
The 1970s fuel shortage was, to put it lightly, challenging. Many Americans of a certain age probably remember the lines at gas pumps snaking for blocks. People waited in line for hours to get a gallon of gas. That crisis was made worse by the Yom Kippur War between Egypt and Syria against Israel.
The oil crisis didn’t just impact drivers; it also hurt those who relied on oil for heating and cooling their businesses or homes. It was so bad that some gas stations used flags to let people know if they had gas. Green meant a business did, yellow meant it was rationing supplies, and red meant it was out.
Are Americans going to start seeing those flags again?
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