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Former President Trump warned Americans during an exclusive interview with Fox Business’ Maria Bartiromo on Monday that inflation is “snowballing worse than ever,” pointing out that the cost of energy is the “biggest problem.”
Trump noted that gas was $1.87 a gallon while he was president and now it is “going through the roof,” hitting prices reportedly as high as $7 a gallon in California.
On Monday, the national average for a gallon of gasoline was $3.31, according to AAA. The national average during the same time period that Trump was in office was $2.22. Biden’s depletion of America’s oil reserves has slightly lowered the cost of gasoline but that is not expected to hold for long with inflation catching fire across the nation.
The former president warned that although the prices have dipped a few cents, they are going to jump due to inflation “because it’s going up like a rocket ship.”
“If you have a bakery, if you have anything, you have to heat it, you have to have the machinery, it’s all energy,” he said to Bartiromo. Trump also contended that business depends on trucks and airplanes for transportation, which are energy-dependent.
“The energy costs have gone up so high, it’s staggering, that everything else is affected,” Trump asserted.
(Video Credit: Fox Business)
In November, inflation rose at the fastest pace in 39 years. Middle and lower-class Americans were crushed with rising costs for groceries and fuel just before the holidays. Many have cut way back on Christmas celebrations due to the exorbitant costs, according to KTLA5.
“Inflation is devastating the pocketbooks of low-income households,” remarked C. Britt Beemer, who is the chairman of America’s Research Group, estimating that low-income households are cutting back their holiday buying by 20% from a year ago. “They are going to have to decide what they are going to buy and what they’re going to eat.”
A Labor Department report stated that the consumer price index rose 6.8 percent in November which is the fastest increase since June of 1982. During that time inflation hit 7.1 percent.
Many Americans blame Biden and Democratic policies for their suffering.
Democrats refuse to focus on things that affect normal Americans like:
-Rising gas prices
What are they doing instead?
Continuing to attack President Trump.
— Rep. Jim Jordan (@Jim_Jordan) December 14, 2021
Energy prices surged by 3.5 percent in November. That number is up 33.3 percent from last year. Gas is a shocking 58.1 percent higher than it was this time last year.
Bartiromo asked Trump what he believes could solve the problem of higher energy costs. Trump told her “the first thing you have you to do is produce energy and not rely on OPEC,” a fact that many Americans are cognizant of. America was just beginning to obtain energy independence before Biden swept into office, canceled pipelines, and restored our dependency on OPEC.
Trump excoriated the Biden administration for crawling to OPEC begging them to increase the supply of oil.
In September White House press secretary Jen Psaki claimed the administration would “continue to speak to international partners, including OPEC, on the importance of competitive markets and setting prices and doing more to support the recovery,” according to Fox Business. In August, National Security Adviser Jake Sullivan said OPEC+’s rate of oil production increases was “simply not enough.”
Americans lost many, many jobs, and energy prices went into the stratosphere after Biden was elected. There is widespread anger among the domestic oil industry as well after getting the shaft by Biden.
Donald Trump was the People’s President, Joe Biden is the inflation President.
— Jim Bognet (@Bognet4congress) December 18, 2021
Biden releasing 50 million barrels of oil from the U.S. Strategic Petroleum Reserve incensed Trump because he fought hard to add to it, not deplete it. The release of oil did not significantly affect gas prices, but it did make America more vulnerable in case of an attack or some form of catastrophe.
“This is a big deal,” Trump stated, proclaiming that the reserves are “meant for war” and not “meant to get the prices down a little bit.”
He also noted that for decades the reserves “weren’t full and then they really hit an all-time low.”
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