Dennis Jansen Speaks to KVEO on Energy Prices
Nov 29, 2021
Summary: News station KVEO (Rio Grande Valley) spoke to Dennis Jansen on the rising costs of energy prices on Wednesday, November 24, 2021.
Leading into the Thanksgiving holiday weekend, President Biden announced the release of 50 million barrels of oil from the strategic oil reserve in an effort to curb high gasoline prices.
Despite the announcement, market conditions and low oil production during the pandemic continued to cause prices at the pump to rise, although not to pre-pandemic highs. Regarding daily oil production, “… we’re still 14% below the peak we had two years ago…in November,” said Jansen.
Gasoline prices aren’t the only energy product facing increasing costs. Jansen noted, “Even natural gas is up 28%, so energy prices are definitely up, and I can see why there is a concern.”