White House tries to put record-high gas prices down on Russian President Vladimir Putin.
Jen Psaki, Press Secretary at Jen Psaki says that “you may have noticed this past week that your gasoline prices have increased.” a widely viewedWhite House video. Vladimir Putin has a large part of the blame. In response to the announcement of sanctions against Russia at a press conference, President Joe Biden swiftly switched from discussing rising costs to talking about patriotic sacrifice. Biden stated that “defending freedom is going be costly.” It is going to also affect us in the United States. Democratic legislators, who are facing falling approval ratings and realizing the consequences of this decision, echo that argument. Gregory Meeks of New York said Americans should not be afraid to sacrifice for democracy’s sake.
Sordid comedians even believe that gasoline prices have risen to new heights mainly because of international events. But, it is worthwhile if the rise does not hurt Russia more then American consumers. “I’ll pay $4.00 a gallon,” said Late Show host Stephen Colbert. “Hell, $15 for me to drive a Tesla.”
It’s clear that sanctions imposed by the United States of America and Europe on Russia, the largest producer of oil in the world, have spooked energy markets. The so-called Putin Price Hike was actually initiated. over a year ago. Biden is unable to blame Putin entirely for the 8 percent overall inflation rate. This was a figure that has been seen since Ronald Reagan’s second term. In fact, President Obama and his allies in D.C., as well as the media, referred to inflation last year only as a temporary phenomenon.
Main culprit? The massive money infusions by the Federal Reserve and federal government over the last few years. On both Donald Trump’s and Biden’s watches, Washington spending increased by 50% between 2019-2021. The federal budget reached $4.4 trillion, a record high in 2019. The federal spending rose to $6.6 billion in 2020. In 2021 it jumped three years, reaching $6.8 trillion. This is a guaranteed way to increase the price of everything as more money chases the exact same quantity of goods.
The Biden administration pursued several policies to improve energy efficiency, including one that focuses on the issue of energy. more expensiveTo produce fossil fuel energy to achieve a net zero carbon emission goal by 2050. Biden’s courageous actions just a week after he was elected president were celebrated by environmentalists who called them “the most extraordinary day in America’s official response to climate change.” As Bill McKibben wrote in The New YorkerBiden’s action marked the “official beginning of end of fossil-fuel era”
President Trump’s actions include halting drilling permits and leasing federal lands. He also proposed the closing of the Keystone XL Pipeline. His congressional colleagues include Democrats from Congress who are working together to tighten oil producer regulations and reduce the impact of Trump years’ regulations. The state elected Democratic governor was ousted. Andrew Cuomo had banned New York fracking in 2014. California effectively stopped the practice to prepare for a ban in 2024.
Although such actions have been reversed by the courts and have no effect on future operations, Biden, the Democrats, have signaled that they believe the future is green even though renewable energy sources may not be up to the challenge of meeting our energy demands. We are still less than 13% of our energy coming from renewable sources. And even though we have more options for sustainable energy, such as solar, wind and hydroelectric, we remain dependent on oil.
Biden blames Putin for Trump and his irresponsible spending habits, if patriotism can be the last refuge of a fool. Even though we cannot expect fuel prices to drop anytime soon, it is possible for us to demand an honest account of inflation’s main source, which can be the most perverse form of taxation. The bill for the federal government’s largesse is due at the pump and in the grocery stores, as well as everywhere else.
Photo Credits: Tom Williams/CQ Roll Call/Newscom; Sipa USA/Newscom; Alexei Nikolsky/Kremlin Pool/ZUMAPRESS/Newscom; shannonpatrick17 from Swanton, Nebraska, U.S.A., CC BY 2.0, via Wikimedia Commons; Peter Bennett / DanitaDelimont.com Danita Delimont Photography/Newscom.
Music credit: Florian via Artlist.
Nick Gillespie wrote and narration. Regan Taylor edited.