Soaring diesel prices spells bad news for America
Over the past year and a half, fuel prices have seen record increases and among those is the skyrocketing price of diesel. Diesel is holding steady above $5.57 per gallon compared to one year ago when prices hovered just over $3.17 per gallon. Understandably, many Americans look at this increase as a reminder of historic inflation alongside astronomical prices for gas, groceries, lumber, automobiles, and the list goes on. Although this drastic surge in the price of goods and services is undoubtedly painful for countless Americans, the record cost of diesel is a crisis in and of itself.
Despite the attempts to undermine and slash America’s vast energy industry, there is no escaping the reality that America runs on oil and gas. Our economy depends on this fuel type—from tankers, trains, trucks, manufacturing, farming, and mining industries to the goods and services they support. Without diesel, America’s economy collapses—full stop. Considering the strong impact this commodity plays in our day-to-day lives, it’s time to discuss what outrageously high diesel prices mean for our economy. Unfortunately for Energy Secretary Jennifer Granholm and Transportation Secretary Pete Buttigieg, their tone-deaf message to go electric won’t work well for those that are currently feeling the pain at the diesel pump. Many on the left seriously think that higher energy prices are good for America. Don’t take my word for it—listen to the rhetoric of prominent Democrats and, more importantly, judge their actions (or lack thereof). For decades the climate change lobby has waged an aggressive war on America’s energy industry, and they finally have a puppet in power to enact their radical anti-American energy policies on a national scale.
Since Day One, the Biden-Harris administration has kissed the ring of the extremist Green New Deal movement. In return, America’s energy industry is collapsing before our very eyes. By canceling the Keystone XL pipeline, refusing to approve oil and gas leases, raising energy production royalties, and seeking oil from adversaries, American energy is under assault. Sadly, for American businesses, the job still needs to get done—which means higher prices for them and subsequently, higher prices for you. Economics 101 tells you that while many businesses attempt to eat increased costs, the reality is the increased burden will eventually fall on the consumer. According to UBS, diesel and jet fuel at New York harbor is currently trading at above $280 a barrel. Further, a number of experts say that this average price per barrel is more than just off the walls, but out of this world. Numbers like these equate to one thing for you and me: get ready for even higher prices at the pump and for everyday life.
According to economists, the average American family will spend an extra $5,000 a year due to rising inflation. This number is bound to increase as inflation continues to surpass expert projections. Additionally, America is home to nearly two million trucking companies. Each company faces a massive crisis with the enormous increase in fuel prices. Weekly, I repeat, weekly diesel costs are increasing by $8,000—which will lead to countless bankruptcies in the trucking industry and further inflame the supply chain crisis. Many in the media and the Democrat Party like to play the blame game, first blaming Vladimir Putin, then Republicans, COVID-19, and most frequently our domestic energy producers. Every scapegoat this administration uses falls on deaf ears. The American people are pointing their angry, wagging fingers squarely at the Biden-Harris administration. Regardless of what Biden, Granholm, or Buttigieg say, they aren’t easing up on their assault against America’s energy sector.
Under the anti-domestic energy production posture of this White House, there is little to no incentive for American producers to embark on the arduous process of producing oil. Additionally, the Biden administration is purposefully dragging its feet in providing leases and permits for increased oil and gas acreage approved under the Trump administration. This blatant lack of support alongside Biden’s executive orders to ban federal oil and gas offerings, as well as blocking the pipelines necessary for transporting energy are a one-two-punch to our economy. The bottom line is the uncertainty and anti-American energy policies of the Democrat Party are directly responsible for the high energy prices we as a nation are facing today. The solution is simple: stop attacking American energy and bring back the American First energy policies of the Trump administration. These policies led to lower energy prices, energy superiority around the world, and energy independence—a stark change from the policies we see today.
Donalds represents Florida’s 19th District.
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