Since Biden has taken the presidency and closed the Keystone Pipeline, we have seen a significant increase in gas prices. As a result of the conflict in Ukraine, it is only going to get worse.
As a country, we have sanctioned many things that come from Russia — from their vodka to their natural resources. We have done our best to completely cut ties with their country.
Now, I am not advocating against this decision, but these actions will have consequences the American public might not have considered. Cutting off our supply of natural resources from Russia means another drop in oil.
In Nebraska specifically, we could be looking at a whole dollar increase in gas prices while we have these sanctions on Russia.
We saw gas prices soar when the pipeline was closed, and WOWT reported back in November 2021 that they had already raised over a dollar in the past year.
As reported by WOWT: “According to GasBuddy’s daily survey of over 300 stations in Omaha, gas prices have fallen 3.4 cents per gallon in the last week and average $3.24 per gallon on Monday. The survey says that gas prices in Omaha are 15.1 cents per gallon higher than a month ago and are $1.20/gallon higher than a year ago.”
Depending on the length of this conflict, we could be seeing the effects of this lack of oil for the foreseeing months, and as a warning to my fellow Nebraskans, be prepared.
If you thought $3.40 was the highest we are going to get, I fully expect and am preparing for prices to hit $4.50 sometime within this year.
President Biden has addressed the issue in his State of the Union Address, saying he will be releasing 60 million gallons of oil from worldwide reserves to reduce prices.
However, this will only be a short-term solution to a problem that threatens to haunt us for the long run. So, start saving your change, and prepare for a drive to work more costly than ever.