On Saturday, I bought a partial tank of gasoline for $2.87 a gallon. This is over a dollar more than the $1.81 a gallon I paid about a year ago (almost 60 percent increase). As most economists would explain, the price is largely a case of supply and demand.

So what may have affected the supply since demand is roughly the same now as then? Since then the new Administration has cancelled a major oil pipeline (Keystone XL), and banned exploration on federal lands and off Alaska. In addition some states as well as the Environmental Protection Agency and Department of Energy have been working to limit (or ban) fracturing (fracking) which enabled the USA to become energy self-sustaining just a couple of years ago.

Since the Federal Government has had a big hand in restricting the supply, we have again unnecessarily become dependent on foreign sources. Adding the inflationary pressure due to excessive government spending (trillions for Covid relief, etc.) will in all likelihood increase the cost of basic transportation the overwhelming majority of us depend on.

I look forward to the time when the overwhelming majority of consumers stand up and say “up with this I will not put” and demand the federal government get out of the way of states and their citizens so we can all freely live within our means.