I understand that the impact to Americans is that for every penny increase in the price of a gallon of gas, averaged over a year, is about $1 billion in consumer spending . So if the average price goes from $2.99 to $3.49 , that’s 50 billion dollars.

Yes. But without new money in economy, that $50B is not being spent elsewhere.

So Oil barons getting rich, at the expense of everyone else.

“Make America Feel Poor Again”