In a press conference last week following his meeting with Prime Minister Fumio Kishida in Japan, President Biden praised the escalating price of gasoline as a positive step toward realizing the Democratic Party’s dream of enacting the Green New Deal.
“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it is over, we will be stronger and less reliant on fossil fuels when this is over,” Biden said. Biden followed these comments by giving lip service to the millions of Americans forced to spend an increasing percentage of their disposable income on putting gasoline in their vehicles.
According to a study
recently by economist Dr. Edward Yardeni, American families are now
paying what amounts to $5,000 per year to put gasoline in their
automobiles, a painful increase from just $2,800 a year ago. ....
Biden’s statement in Japan refused to acknowledge that his administration bears a significant causal link to increased energy prices in the United States and worldwide. The Biden administration has made a series of decisions reversing Trump administration energy policies by shutting down the Keystone pipeline and canceling offshore oil and gas leases in the Gulf of Mexico and Alaska.
The
Biden administration is developing into a sad repeat of the Carter
administration’s economic policies, as evidenced by a redux of the 1979
stagflation that brought the type of double-digit inflation and stagnant
economic growth we are again seeing today."
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