By John Ubaldi, “Ubaldi Report”
Speaking before the AFL-CIO, President Biden stated his policies in his words are “Changing Lives,” unfortunately not in the way he wanted or intended them to be.
As the nation inches toward the mid-term elections in November, the most pressing issue for individual Americans is inflation, rising gas prices and the economy, but with each subsequent poll showing the president polling in the twenty percentile, this election could be a disaster for Biden and Democrats.
Everywhere you go American families are facing surging gas and grocery prices that are directly impacting budgets. With rising inflation unseen since the early 1980’s, many are dipping into their savings and utilizing credit cards just to survive.
President Biden and his administration routinely blames Russia’s invasion of Ukraine for spike in energy and for inflation, but he fails to understand that his own policies have contributed to the economic mess the nation finds itself in.
Many opponent’s to the president blame his rhetoric and policies as it relates to energy. One only has to remember that throughout the 2020 presidential campaign; openly Biden stated that he would end fossil fuel as we know it. Well now the nation is feeling its effect, but especially American families.
The Biden administration has done everything to end America’s energy independence, but with rising gas prices, he always blames the war in Ukraine, the coronavirus, and recently U.S. energy companies.
Since becoming president, Biden has increased gas prices by cancelling drilling leases and limited drilling production, added massive choking regulations which placed burdensome costs which have led to substantial higher prices.
The final aspect is that Biden and other Democratic political leaders harsh rhetoric against fossil fuel has prevented investment in the energy sector,
The American Petroleum Institute submitted a ten-point plan that would revive U.S. energy and bring down prices; unfortunately President Biden rejected their proposal outright and sent the top main energy companies and stern letter in response.
In the letter Biden stated, “The crunch that families are facing deserves immediate action,” Biden wrote in a letter to seven oil refiners. “Your companies need to work with my Administration to bring forward concrete, near-term solutions that address the crisis.”
Biden then goes on to threaten the energy companies by sating his administration will “Use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied.”
It’s ironic the president wants the energy companies to do more, but will not do anything to alleviate his administration’s policies that hamper fossil fuel production in the U.S., and with the added insult is that he is currently begging other nations to increase production.
Next month Biden will be traveling to Saudi Arabia, and on the agenda is to ask the kingdom to increase its energy production.
The question that should be asked of Biden is why ask OPEC, and Russia which caucuses with them and Venezuela to increase energy production but refuse to increase energy production in the United State which would create jobs in America.
Even Democrats want to place additional burdens on U.S. energy companies by Sen. Sheldon Whitehouse (D., R.I.) and Rep. Ro Khanna (D., Calif.) would put a 50% tax, charged for a barrel, on the price difference between the current cost of a barrel of oil and the average cost for a barrel between 2015 and 2019. It would raise an estimated $45 billion a year at $120-a-barrel oil, according to lawmakers behind the proposal.
President Biden and congressional Democrats have attacked traditional energy, proposing to raise taxes by $145 billion on Made-in-America oil and gas, pipeline and refining firms—killing over 1 million jobs, raising fuel prices, and leaving America more dependent on foreign oil.
If you believe in climate change then you should be against all energy production not just in the U.S.
No amount of cajoling or threats will empower energy companies to produce so as long as the Biden administration and Democrats threaten them, as they look five to ten years out ensuring a return on their investments.
Biden and Democrats only are looking at the mid-term elections and the potential coming red wave, as voters are more concerned with inflation and surging gas prices than anything else.
This same failed approach to inflation where Biden blames everyone else instead of taking a hard look how his own polices contributed to the inflationary period America finds itself in.
The beginning of the rise in inflation can be tracked to the passage of the American Rescue Plan passed in March of last year in a strictly partisan manner with no Republicans in support of the measure.
Warnings were given, as former U.S. Treasury Secretary and Senior Economic advisor in the Obama administration Larry Summers warned President Biden that this additional spending was unnecessary and would lead to increase inflation.
Summers stated before the passage, “There is a chance that macroeconomic stimulus on a scale closer to World War II levels than normal recession levels will set off inflationary pressures of a kind we have not seen in a generation.”
The Federal Reserve Bank of San Francisco even corroborated in a report on its effect.
Even former Obama administration economic adviser Steve Rattner refutted Biden’s assertion that inflation was strictly the fault of Russia by stating, “Well, no,” Rattner tweeted, quoting Biden’s statement. “These are Feb #’s and only include small Russia effect. This is Biden’s inflation and he needs to own it.”
With inflation and rising gas prices American families are facing the brunt of Biden’s failed policies that have only exacerbated the pain many are feeling.
Unfortunately, Biden fails to adjust course and continued to double down which only further places pain for American families at the gas pump, when they buy groceries, and compound the shortages of product many are experiencing.
Just examine the shortage of baby formula as one example.
For someone who came into office with the most experience, he is headed to be the worst president in the modern presidential era, with American families feeling the brunt of his failed policies.