President Donald Trump predicted that gas prices would surge under Joe Biden. Like many of Trump’s other predictions, he was entirely correct.
During one of their presidential debates, Biden told the entire world that he planned to transition away from the oil industry (because oil “pollutes”) and replace oil with renewable energy. Biden planned to do so by withholding federal subsidies from the oil industry and rejoining the Paris Climate Accord.
Biden’s plan to eliminate the oil industry and make America “green” and energy-dependent drew sharp criticism from Trump, who realized the dangers associated with this approach. After all, during Trump’s presidency, gas prices were significantly lower, and America was energy independent.
On the other hand, Biden has restricted oil supply by canceling the Keystone XL pipeline and pressuring banks not to lend to oil and gas producers. He has also discouraged investments in such energy companies. Unlike Trump, who utilized domestic energy sources, Biden continues to impose severe restrictions on domestic energy production and rely on foreign countries, including Russia, to produce more oil to lower gas prices.
However, as consumer demand increases and America continues to rely on other countries for its energy (while Biden restricts production at home), prices rise.
On Monday, the average price for a gallon of gasoline in the United States hit a new record high of $4.104, surpassing the previous $4.103 record set in 2008. Sadly, gas prices are expected to climb. According to GasBuddy head of petroleum analysis Patrick De Haan, “Americans have never seen gasoline prices this high, nor have we seen the pace of increases so fast and furious. GasBuddy now expects the yearly national average to rise to its highest ever recorded.”
Trump predicted this price increase would happen under Biden, and he was right on the mark.
Mr. Hakim is an attorney and columnist. His articles have been published in The Washington Examiner, The Daily Caller, The Federalist, American Thinker, and other online publications. He is also a regular guest on OANN’s Tipping Point.