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Biden’s $3.40 a gallon problem

Explain It to Me

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Do You Think the Biden Administration Will Reverse Renewable Fuel Standard?

Nothing could really fundamentally bring down prices for a sustained amount of time. The policy conversation is limited because, you know, the actual levers are quite limited. There's one influential theory of what happened in the seventies with where you had an oil crisis and then this big inflationary spiral encompassing gas prices. And so when it spiked, it led to a kind of a mechanical increase in inflation across the board.

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