Dramatically increased gasoline prices and lack of reliance on America’s natural resources and critical minerals was the subject of a discussion on CNBC’s Squawk Box Thursday morning. Alaska Senator Dan Sullivan spoke on the Biden Administration killing energy infrastructure and production, stating that there are nearly 5,000 applications to drill in the U.S. stuck in Washington D.C.
Some U.S. states have started suspending gasoline taxes. Others are in the process of entertaining a move to provide some relief from the high prices at the pump. As of Thursday, gasoline is still high at $4.79 a gallon locally. Some energy experts, however, say that the suspension of gasoline taxes in some states likely won’t have an impact. Instead, they are saying that the Biden Administration should lift restrictions on the oil and gas industry, increasing domestic energy production in states like Alaska.