Inflation Remains Near Historic Highs Because of Biden’s Energy Failures

August 10, 2022

This morning, the Labor Department released the latest Consumer Price Index (CPI) report examining inflation in the month of July. The report remains staggeringly high. In July, prices of consumer goods – which includes energy, groceries, and housing – was 8.5 percent higher than it was just one year ago. The cause for all this is clear: Biden’s energy failures.

Since coming to office, President Biden and his administration have waged a war on American energy production with grueling regulations, lack of permits, and wasteful green energy spending. The new CPI report arrives just days ahead of an expected vote in the House of Representatives for a package that includes an additional $369 billion in corporate welfare aimed at boosting the green agenda. If passed, these hundreds of billions of wasted taxpayer dollars will fuel even worse inflation, raise energy taxes, and lead to more boondoggles like Solyndra.

“Americans are paying the literal price for Joe Biden’s man-made energy failure,” said Daniel Turner, Founder and Executive Director for Power the Future. “Energy undergirds everything we do, and if the Biden Administration is serious about tackling inflation, they should unleash our domestic production. Instead, Congress is preparing to raise taxes to fund the green agenda.”