Higher prices are the cost of Biden's war on fossil fuels
On the 2020 campaign trail, Joe Biden promised to create for America a green economy. He specifically mentioned that the way to do this is to denigrate fossil fuels. Now that this mentally addled man has been installed as president, he and his like-minded administration of l
In January of this year until the end of September, the price of crude oil has jumped from $49.73/bbl to $70.15. This is a 41-percent increase, and this trend is not stopping. The current price of oil as of this writing is more than $80 a barrel.
Oil is the main driver of gasoline prices. Accordingly, the average retail price of gasoline year-to-date has risen from $2.42 to $3.27 — a 35-percent rise. It's a simple calculation to figure out how much extra that costs you based on how many vehicles your household drives, their fuel efficiencies (mpg), and the number of miles driven. For most of us, it is a noticeable hit on our pocketbooks. It's even worse for diesel fuel where its average retail price has risen 49 percent Y-T-D.
The ripple effect of higher oil prices hardly ends with gasoline and diesel fuel. Plastics are made from oil. The higher the price of oil, the higher the cost of plastics...as well as the cost of processing the oil into plastics. This is not a trivial matter because plastics are everywhere.
Then there's food. In the U.S., food is transported great distances from the farms to the processing plants and finally to the supermarket shelves. Higher transportation costs are incorporated into the price of food we all buy. Meanwhile, farming itself takes energy and petroleum-derived fertilizer to produce available crops at all. That, too, needs to be considered.
That's not the end of the story. According to the U.S. Energy Information Administration, the spot price per million Btu of natural gas has jumped 90 percent from $2.71 to $5.16. This will make it an expensive winter for heating our homes. Since natural gas is a main source of electricity, the cost of electricity will have to rise, too. And because electricity runs nearly everything, prices will necessarily increase across the board.
All this can be laid at the feet of Biden and the anti–fossil fuel policies of his madcap administration. These people are so enthralled with the hope that green energy can power the country that they're willing to destroy the economy trying to turn their delusion into a reality. Just like what is happening in Europe. Like all delusions, this one will fail in time. But until then, there will be much misery in America.
The U.S. inflation rate is rapidly rising throughout the U.S. And to be fair, it is not all due to the Biden administration's war on fossil fuels. Joe and the Federal Reserve help in other ways, like flooding the economy with enormous amounts of fiat currency. This is inflationary, and aside from rising prices, inflation is also a hidden tax. It is insidious because it especially hurts the working class, senior citizens on fixed incomes, and those who save. In spite of what the Fed and the media talking heads say, inflation is not going away anytime soon. How can it? And don't be surprised if these higher price bring on an economic slowdown while inflation persists. That's called stagflation, which was last accomplished by another Democrat president. His name was Jimmy Carter.
If Biden's objective is to further diminish America and crush its middle class, he's doing a bang-up job of it. But nobody can be so incompetent, can he? If not, then maybe that was why the shadow group behind Biden had him installed in the Oval Office in the first place. This frail man, who seems to have trouble knowing where he is half the time, would be a useful front man to advance their agenda.
Image: Pixabay, Pixabay License.
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