Current events discussion

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Did you know:

Outside of that COVID anomaly, WTI crude averaged about $58/barrel across Trump's first term (excluding 2020), and the national average for gas when he left office in January 2021 was $2.38/gallon.

 

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Did you know:

Crude Oil:The highest WTI crude oil price during Biden's presidency was an intraday high of $132.07 per barrel on March 7–8, 2022, driven by Russia's invasion of Ukraine and the subsequent U.S. ban on Russian oil imports. Brent crude went even higher, reaching $139.13 per barrel in March 2022 — the highest since the all-time record set in 2008.

National Average Gas Price:The highest national average gas price during Biden's presidency reached $5.01 per gallon for regular unleaded on June 14, 2022. Some data series place it slightly higher — weekly averages peaked as high as $5.07 per gallon depending on the tracking source used.

 

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President	Trigger	Crude Peak	Gas Peak
Bush	China demand surge / supply tightness	~$147/barrel	$4.11/gal
Obama	Post-crash recovery / Arab Spring	~$113/barrel	~$3.97/gal
Biden	COVID rebound + Russia/Ukraine	~$132/barrel	~$5.01/gal
Trump (2nd term)	Iran war / Strait of Hormuz	~$112/barrel	~$4.56/gal