With gas prices approaching a national average of $5/gallon, Americans continue to demand answers. However, the Biden administration doesn’t appear to have any concrete solutions.
Democrat leaders simply say people should switch to EVs (electric vehicles), while the cost of living in general keeps skyrocketing. Many believe Biden’s team simply hasn’t done enough to combat the issue.
But Treasury Secretary Janet Yellen claims the opposite — she says the administration has done all it can.
Gas prices are on a record-setting surge, hitting a high of $4.91 per gallon this week. At this point, the price has more than doubled since Biden took over the White House from former President Donald Trump.
As for Trump and other Republican leaders, they’ve said from the start that this could’ve been avoided.
Trump worked to make the U.S. energy-independent, allowing domestic drilling and reducing our reliance on foreign powers for oil. Now, we’re forced to beg for oil from those foreign powers yet again.
A simple answer might be to simply allow drilling to re-commence in America but evidently, that just isn’t an option.
Yellen’s claim is bound to rile millions of frustrated drivers (from Breitbart):
Treasury Secretary Janet Yellen on Tuesday claimed the Biden administration has exhausted efforts to reduce energy costs for American citizens.
Speaking at the Senate Finance Committee, Yellen said ‘the administration has done ‘everything that they can’ to reduce energy prices.
Once again, Yellen pointed the finger at the pandemic and the Ukraine/Russia war.
Of course, critics will remind Yellen that we wouldn’t be worrying about the Ukraine conflict if we weren’t once again turning to other countries for oil. This argument continues to fall on deaf ears in Washington.
Instead, the Treasury Secretary blamed “macroeconomic challenges” as well as the supply chain difficulties and inflation.
It doesn’t help her reputation as Yellen was famously quoted as saying inflation would be “transitory” or “temporary,” and that it wasn’t something that would turn into a worldwide epidemic.
Last week, she finally admitted that this was a mistake, saying she was “wrong about the path that inflation would take.”
Americans will now wonder: if she was so wrong about inflation, why should anyone believe her when she claims the Biden administration has done “everything” it can to lower energy costs?
Inflation is the biggest concern for most U.S. residents right now. A recent Bloomberg report indicated that Americans will shell out an extra $5,200 in 2022, and will stop 25 percent from retiring.
These are concerning statistics to say the least — so it might not go over well when a high-ranking official tries to say Biden has done everything possible to help.
- Treasury Secretary Janet Yellen claims the Biden administration has done “everything they can” to lower energy costs.
- Yellen blamed the issue on “macroeconomic challenges,” the Ukraine war, and the pandemic.
- Critics blasted her for ignoring Biden’s refusal to use domestic oil, and for calling inflation “transitory.”