Americans have gotten poorer by the day since Joe Biden and Kamala Harris took over the White House.
But the “adults in the room” say Americans haven’t seen “nothing” yet.
Because Joe Biden’s American cash reset is about to go richter.
Joe Biden’s failed foreign policy and flawed energy policies are about to hit home.
But from the perspective of the elite’s Great “you’ll own nothing” Reset, that’s the point.
Skyrocketing inflation is likely to get another huge boost as Joe Biden’s diplomatic failures combine with his flawed energy policies to create a perfect storm that will hit every American family’s budget.
American families paid $1,000 more in energy costs during Biden’s first year in office—and it looks like he’s only getting warmed up.
With violence breaking out in Ukraine some experts predicted that gasoline prices could hit astounding numbers once a barrel of oil reaches $100 per barrel.
“My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] … as soon as you get to $100,” Energy Word Founder Dan Dicker said during an interview with Yahoo Finance Live. “And you might get to $6.50 or $7.”
Dicker says all bets are off on what will happen if crude oil prices break $150 a barrel.
Gas prices are currently hovering around $3.53 per gallon according to Gas Buddy—$1.44 more than the low of $2.09 per gallon back in November 2020.
If oil prices shoot up, the financial pain will extend far beyond the gasoline pump.
Diesel and Gasoline are used every step of the way to produce food in the United States.
In fact, it takes about 5.5 gallons of fuel per acre just to fertilize industrial agricultural fields before farmers even plant a crop.
By the time food reaches your local supermarket it’s also traveled an average 1,494 miles.
Record high inflation rates and “supply chain” issues have already caused food prices to skyrocket—and higher fuel prices will only make the situation worse.
Biden’s decision to shut down the Keystone pipeline also helped weaken the United States ability to get fuel domestically.
The Strategic Petroleum Reserve was created to help prevent major disruptions in situations like this.
And when oil prices suddenly dropped during the Covid-19 pandemic, Donald Trump filled the 60 underground salt caverns where the oil is stored.
Unfortunately, Biden has already tapped that supply to try to bring down gas prices caused by inflation—thanks to his reckless spending policies.
Now we can only hope to survive nearly three more years of Joe Biden as president without him draining all of our reserves.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.