Biden’s policies are bankrupting America.
But now, things are about to go from bad to much worse.
And it’s all because of one massive looming price hike that could cripple the American economy for years to come.
Joe Biden has been an economic disaster for the United States of America.
On virtually every single issue, he has overseen one of the worst financial recoveries in modern history, while his tax and spend policies are bankrupting the Federal government, running up record debts, and driving up inflation to levels that hasn’t been seen in generations.
But now, one of the worst signs of Biden’s horrendous record is about to get even worse.
And it’s all centered around the soaring gas prices across the country.
CNET reports, “The national average for a gallon of gas is $4.71 on Thursday, according to AAA, up more than 50 cents a gallon from just a month ago and $1.67 higher than this time last year.”
The record gas prices are also showing no signs of slowing down.
In fact, many predict that the country may never get back to gas under $4 per gallon, at least as long as Biden is in office.
But not only are the odds of gas falling back down to normal levels fairly poor, but there’s a growing possibility that gas will continue to climb to over $5 per gallon across the entire country, with some places possibly seeing gas as expensive as $10 per gallon.
CNET adds, “Eight states now average $5 or higher, with Indiana closing in on that price. Heading into summer, analysts predict even higher prices at the pump. According to a report by JPMorgan, the nationwide average could surpass $6.20 a gallon by August. California has already reached that threshold, with gas throughout the San Francisco Bay Area over $6 a gallon and Mono County hitting $7.05.”
The cause for these soaring prices has been Biden’s anti-energy policies, which has resulted in making it more expensive to drill, refine, and transport oil and gas than it ever has before.
What’s more, Biden is making matters worse with his regulatory policy to make it more expensive to use these forms of energy.
And it’s not just cars or trucks that are hurting. Energy prices for homes across America will likely skyrocket once the Fall and Winter set in later this year.
“In May, the Department of the Interior canceled the sale of a high-profile oil and gas lease that would have opened 1 million acres in Alaska to drilling, citing a “lack of industry interest in leasing in the area.” The department also stopped two potential leases in the Gulf of Mexico because of what it called ‘conflicting court rulings that impacted work on these proposed lease sales.’,” adds CNET.
The fact that Biden’s administration is making it harder for the United States to be energy independent at a time when gas prices are soaring to record levels is what is making the growing energy crisis even worse than it needs to be.