“I want to emphasize: Demand destruction or demand slowdowns is not a fix to this problem,” Jeff Currie, global head of commodities at Goldman Sachs, said last Thursday. “There is only one long-term fix to this problem, and that is investment — harnessing large amounts of capital into this space to de-bottleneck it … And, at this point in the game, we still don’t see large-scale investment.”

The problem to which Currie was referring is the price of gasoline, which ranges from $6 to $8 in the United States. It is a problem that portends massive Democratic losses this November and for which President Joe Biden is doing everything he can to evade responsibility.