Less American Energy Equals Higher Inflation

Less American Energy Equals Higher Inflation

July 13, 2022

June’s inflation report paints a gloomy picture for American families. Inflation rose to a 41-year high at 9.1%, marking the fastest growth of inflation since the 1980s. Our President is playing his usual blame game and blaming anyone and everyone but his administration and its policies.

Fox Business reports on Biden’s reaction to today’s report:

“While today’s headline inflation reading is unacceptably high, it is also out-of-date,” said Biden “Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June. Those savings are providing important breathing room for American families.”

Saying that $4.50/gallon gas provides “breathing room” shows just how out-of-touch he really is.

The Biden/Harris administration has continually attacked the American energy sector and blamed producers for higher prices. But the real problem is that the administration’s policies make new energy investment nearly impossible. And while families are dealing with the consequences, Biden is flying to the Middle East to beg Saudi Arabia for more oil. It would be far more effective for Air Force One to fly to Texas and meet with the American producers who had made us energy independent just two years ago.

“With inflation exploding at home, President Biden heads to Saudi Arabia hat in hand to beg for more oil,” said Daniel Turner, Executive Director of Power The Future. “If he wants to stop his terrible inflation, Joe Biden shouldn’t be in Saudi Arabia begging for more oil, he should be in America’s Permian Basin telling energy workers he’s going to get out of the way.”