Major Diesel Supplier Warns Of Shortage, Higher Prices

The video discusses an oil shortage on the East Coast, highlighting its impact on prices and supply. Experts assure that the country won't run out soon, but prices are rising due to the Ukraine conflict. Critics urge the government to increase production. The US has a 25-day supply, a tight margin. Oil companies are profiting, and the government plans to impose higher taxes on excess profits. Some propose a gas tax holiday, but experts warn it could harm tax revenue. The shortage may increase holiday shipping costs.

What are the potential consequences of a gas tax holiday as mentioned by experts?

How might the oil supply situation affect the upcoming holiday season?