As Americans keep watching the price of virtually everything they buy climb, liberal Democrats continue to insist there is not a problem. Their so-called experts label it “transitory inflation”. Anyone watching their checkbook balance plummet sees nothing “transitory” about it.
The scary rise in inflation is real. Inflation is carving away at any financial good fortune everyday Americans may be earning. One place that an economic crunch triggered by inflation is hitting the hardest is at the gas pumps.
Because of Joe Biden’s failing energy policies, America has lost our energy independence. Within hours of assuming control of the White House, Biden axed the Keystone Pipeline project. This immediately had an immediate adverse effect on gas prices.
There has been a steady rise since. Some point to the radical Green New Deal initiatives of Biden’s liberal Democrat Party as another contributing factor. The fact is simple. America has lost the security of energy independence, and it is costing everyone.
Financial giant, Bank of America, doesn’t think the problem is going away any time soon. In fact, officials from the second-largest bank in the United States posted a dire warning. Recently, company experts issued a projection for Brent crude oil.
Brent Crude Oil is considered the benchmark that controls gas prices. Bank of America projects Brent Crude Oil prices to skyrocket to over $120 per barrel. That would ignite another 45 percent increase per gallon in the price of fuel at the pump.
Americans are already feeling a horrible financial crunch from the single year rise of over $1 a gallon. Every penny of this increase can be attributed to the Joe Biden administration’s energy policies. His administration is destroying America economically.
Biden’s senseless handling of U.S. energy policy has forced him to ask OPEC to pump more oil. They’re saying no. The United States has gone from the security of energy independence under President Donald Trump back to being reliant on petroleum from overseas.
It is one of a continuous line of terrible Joe Biden policies that are riveting the country. Over 60 percent of Americans feel Joe Biden’s handling of the economy is poor. If the price of gas goes up another dollar per gallon, or more, Americans will experience even more economic hardship.
West Virginia Senator Joe Manchin feels the problem is because of Biden’s poor policy decisions. The long-time moderate senator insists, “Well, I say that we can basically do more for ourselves. We have been energy independent for the first time in 67 years.”
Manchin put it simply, “Why can’t we do more? Why can’t we produce more”? The reason we cannot produce more essential energy for our country is because of Joe Biden. His presidency is a train wreck. Biden and his liberal lunatics are failing on every policy decision.
Numerous experts support Bank of America’s dire warning. Francisco Blanch, the head of Bank of America’s global commodities, cautioned that OPEC will do nothing to help. Blanch insisted, “OPEC is not interested in pushing prices back down to $60 a barrel. They have zero interest.”
Thanks to the man who has fumbled and bungled his way through the most disappointing first 10-months of any president in U.S. history, it looks like Americans could feel a greater financial crunch at the pump. Way to go, Joe.