What are we? 12?
Blaming gas prices on Biden after less than 2 years in office means you'd have no problem blaming George W Bush on even higher (the highest ever recorded in the U.S.) inflation-adjusted gas prices in 2008 when he was in office for over 7 years, right?
Back in 2012, I predicted that the summer of 2008 will end up being the highest, inflation-adjusted, oil will ever get. That was peak-oil. But like I said in the original prediction, the only way it doesn't happen is if there is a supply shock from some place like Iran. Russia playing an Iran on us is the same difference.
Regardless, I still stand behind that prediction. I highly doubt despite the current Russia problem, we ever go beyond the highs of 2008 after 7 years of Bush.
My prediction back in 2012:
https://csnbbs.com/thread-578098-post-80...pid8070871
As you can see in the graphs below, we're no where near peak inflation-adjusted oil prices set back 2008. Gas peaked at about $5.50 (inflation-adjusted) back then after 7 years of Bush. We're only at $4.60 now. I'm calling it, I still don't think we go over the Bush 2008 peak even in domestic average gas prices unless the Russia situation gets dramatically worse.. which I highly doubt.
Either way, common sense say Bush had little to do with inflation back then, and Biden has even less influence on it today than Bush did back then. Presidents historically have no significant short-term effect on inflation. It would take a whole term in office before having any hope to have any meaningful impact, and even that is unlikely.