President Trump weighed in on the cost of energy in America during a conversation at his Mar-a-Lago home with Fox News’ Sean Hannity this week, predicting a massive price surge after the midterm elections.
“It’s going to be much higher,” Trump remarked on inflationary trends, “as soon as the election’s over.”
He pointed out that as president, he had filled up the strategic oil reserves when oil was cheap, filling 75 million barrels during his time in the White House. Trump said, “[I] filled it all up, right to the top. First time it happened in 50 years, where it was filled to the top. And they’ve taken that, and they’re giving it to people. It’s supposed to be meant for war and for the military.”
He continued, “They’re giving [it] to people to keep the oil prices down before an election, that’s where it’s being used. When the election is over, gasoline will go through the roof. And so will your heating bills, so will your electric bills.”
Since Biden took office in 2021, living costs have steadily increased. In late July, the U.S. officially entered a technical recession after experiencing two back-to-back contracted quarters of negative growth, as previously reported by RSBN.
In fact, Joe Biden previously dodged the issue of high inflation when asked about it during last week’s “60 Minutes” interview. He claimed that the month-to-month inflation rate was up “just an inch.”
President Trump’s comments to Hannity starkly contrasted Biden’s dodge on economics, highlighting the fact that up until the Biden administration stepped into the White House, Trump’s energy policies were positioning the U.S. to be energy dominant.
“We had 500 years [of energy] right under our feet,” Trump said.
The 45th president also condemned Biden’s weakness in light of the heightening tensions in Eastern Europe. “We are making Putin rich as he does his war thing,” he said. “He’s making money over and above…if we ever reduced oil, he’s gonna have to stop.”