Joe Biden was already facing a whirlwind of problems.
But this nasty surprise just caught him off guard.
And Joe Biden was at a loss for words after he received this devastating news.
Skyrocketing energy prices are becoming a major area of concern for Americans under Joe Biden’s failed Presidency.
Joe Biden declared war on American energy on his first day in office, sending gas prices through the roof and causing major pain at the pumps for drivers.
The price of natural gas has also doubled since this time last year, sending electricity bills through the roof and delivering a punch in the gut to Americans already struggling with the ever-increasing cost of living.
But according to Lipow Oil Associates President Andy Lipow, energy bills are expected to spike even higher this winter.
“We are seeing gas prices going down and the Biden administration is taking credit,” Lipow said during an appearance on Fox Business. “Let’s remind everybody it’s mid-August and this is when gas prices always start to go down.”
Even though Joe Biden claims he helped lower gas prices from the all-time high, he refuses to accept any responsibility when prices go up.
“I think that the only really substantive action that the Biden administration took was the release of the Strategic Petroleum Reserves, and I think that contributed about 15 to 20 cents a gallon of the gasoline price decline,” Lipow explained.
The Strategic Petroleum Reserves (SPR) is supposed to only be used for emergency disruptions in the supply of oil.
However, Biden tapped into it for political reasons.
As a result, the SPR is now at its lowest levels since 1985.
But this fall the release of oil from the SPR is supposed to end, which could send energy prices even higher.
“When we look at utilities going forward this winter, especially with the soaring price of natural gas, which has doubled since this time last year, the consumer is going to be paying far more for natural gas this upcoming winter heating season,” Lipow said. “That’s also going to filter into higher electricity costs as 39 percent of our electricity is generated from natural gas.”
Natural gas is critical for heating and electricity in many parts of the country.
But thanks to Joe Biden, many Americans will likely pay even more to stay warm and keep the lights on this winter.
Lipow is not the only expert predicting higher prices.
Bank of America also warned of higher prices this winter due to supply issues.
No matter how you look at it, skyrocketing energy prices will be a headache Joe Biden will have to deal with for the unforeseeable future.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.
