According to AAA the cost of gasoline has risen 40% in the last 6 months. They put the national average price at $2.25 on January 1st, and today the average is $3.13. They also claim that there is no reprieve in sight, “Motorists can expect gas prices to increase another 10-20 cents through the end of August, bringing the national average well over $3.25 this summer.”
What AAA is omitting is that fuel and energy prices affect a lot more than just “motorists”. Everything is moved and produced using fossil fuels. Semi-trucks and combine harvesters can’t run on promises of a green utopia, they need diesel fuel.
When gas prices rise, it brings up the floor on the entire economy. Increasing prices across the board certainly has a negative impact on the lives of ordinary Americans, which should give politicians some pause before pursuing certain policies. After all, it’s these ordinary Americans that allegedly have the power to vote these politicians out in the next election.
For his part, Joe Biden doesn’t seem to have this concern – as he advocated for eliminating tax breaks for fossil fuel companies in a speech on Wednesday.
“I want to provide tax cuts for businesses and consumers who invest in clean energy technologies like renewables, battery storage, next generation aviation fuels, electric vehicles… I want to set the clean energy standard that moves us to a fully clean and reliable grid.”
Biden then went on to claim that eliminating these tax breaks would raise an additional $90 billion to pay for his agenda. It’s unclear if Biden is aware that the additional revenue would not be coming from oil execs pockets but from the American middle class.
Price increases will certainly come with the tax increases, and people will still need to fill up their cars and buy groceries. Whether Biden’s atrocious energy policies can be attributed to stupidity or malice, the results will be the same.