I noticed as I drove by the King Soopers gas station in Aspen Park today that the price was $3.39. That’s not bad compared to last year’s high, but it’s still 50% higher than when President Biden took office less than two years ago. I know Biden likes to take credit for the decrease over the last few months because of his action of decimating our strategic oil reserves, but did you know much of the credit for the decline belongs to China? Because of their national epidemic of COVID this past fall, they virtually locked down the country. Families were very restricted on how often and why they could leave their homes.
China is one of the largest consumers of energy from the world’s supply, and when their demand dropped dramatically it triggered a much lower price for all the other nations. Now that they have rescinded the restrictions, their usage is once again consuming from the world supply. Yes, there are other things at play, like the Suncor shutdown, but the needs of the world’s biggest consumer play heavily into the market. So do the decisions of those in D.C. matter at all? Yes, national policy can definitely affect us out here in rural Park County.