Bidenomics: Energy Prices Skyrocket Nearly 30% Under Biden, 13 times Faster Than Previous 7 Years
A look at how energy price inflation, driven by “climate crisis” policies, is impacting California and the United Kingdom….versus Ohio, where fossil fuel based energy is leading to a decrease in electricity prices.
As we listen to Biden make promises during the 2024 campaign, it might be good to remember what his promises related to Bidenomics have led to since his last one.
For example, his infamous “Inflation Reduction Act” and his green energy policies have caused energy prices to skyrocket nearly 30 percent.
Since January 2021, electricity prices have soared 29.4% — 50% more than overall inflation — rising 13 times faster than the previous seven years, according to a Wall Street Journal analysis of Bureau of Labor Statistics data.
Meanwhile, in those seven years before Biden took office, electricity prices rose just 5%.
News of the astronomical increase in electricity came in the wake of March’s Consumer Price Index, which showed US inflation rose 3.5% in March.
Wednesday’s data from the Bureau of Labor Statistics showed that on a monthly basis, price growth rose 0.4%, primarily driven by shelter and gasoline, which contributed to more than half of the advance.
Meanwhile, in California, Democratic legislators are beginning to regret the fee increases in energy prices they tacked on to their wealthy customers to fight “climate change.” Angry constituents are contacting them, upset with bills that have risen over 100% in the past 10 years.
A cadre of coastal Democrats is pushing to repeal a fee that would drive up utility bills for some middle- and high-income customers. Lawmakers ordered it up two years ago in part to cover the costs of adapting to climate change.
“My constituents are pissed off,” Menlo Park Assemblymember Marc Berman said at a press conference this morning on Assemblymember Jacqui Irwin‘s AB 1999. “I know because they told me over and over again at every community coffee that I had in the fall and in the winter [that] their rates keep going up.”
Berman voted for the fee in 2022. What’s changed?
The support for Irwin’s proposal reflects the intensifying political pressure lawmakers face to do something about utility bills that have shot up by as much as 127 percent over the last decade.
The bills incorporate climate-driven costs such as burying power lines to reduce wildfire risks and building out infrastructure that will be needed to electrify cars and homes to wean the state off carbon-emitting fossil fuels.
As the real driver behind the climate crisis is “Big Government,” the fact that their policies are now jeopardizing their political futures is karmic.
But Americans aren’t the only ones hurting from skyrocketing electric prices. Energy prices have also slammed residents of the United Kingdom hard due to poor energy policies.
British residents face fines if they want to go back to traditional methods of heating, like wood stoves. Eco-bureaucrats would prefer them to get loans.
The Environmental health manager said that support would be available such as grants and low-interest LOANS so that homeowners can improve insulation in their houses and get renewable energy.
Really, people are being offered to take up a LOAN to insulate their house? In other words, that will costs people money.
With this push for useless wind turbines, naturally energy prices are going to go up in price. Because it is really simple. When the wind doesn’t blow, there is no electricity being produced. Ironically, we need the correct weather for the wind turbines to work.
You might ask, “is there any place where energy prices going down?” Ohio…due to their reliance on efficient energy sources that are reliable and readily attainable.
Wholesale electricity rates in the regional market to which Ohio belongs fell “considerably” from 2022 to 2023 due to decreasing costs for natural gas and other fuels, Sarah Parrot, Ohio federal energy advocate, said at the April 3 meeting. It was the largest annual percent decrease since 2009, she said.
“This is all very good news for SSO customers. As a result of the lower prices determined by market forces and the recent SSO auctions in Ohio, the SSO rates as of June 1 for the regulated electric utilities will be going down,” she said. “SSO customers will see this decrease in their bills starting this summer.”
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It’s all for the greater good. /s
Once again…it is 1979 all over again.
THIS is what Trump should put on an ad
We in Texas use 30% windmills for energy
Absolutely ridiculous
Thanks republican leadership
In addition to their many other problems, the things are just hideous.
We in Iowa get over 60% of our electricity from windmills. My average electric bill for my 3 bedroom house is $90 per month. Year round. I can live with that.
On our recent trip across Texas, we noticed that the vast acres of windmills that used to blot out the skyline for miles, starting just east of the I-10/I-20 split, had been reduced to a relative handful of towers, What happened — damage from high winds?
To the Climate Cult with it’s arm rammed up the retarded puppet’s arse, this is most assuredly a feature, not a bug.
Gasoline and fuel oil are still close to $5 a gallon where I live. A bag of Doritos is $7.99, and the least expensive 12″ Subway sub is $13.99.
I can easily go without the chips and restaurant-bought sandwiches, but I cannot go without the fuel for my car and furnace. Then there’s the price of basic hardware and lumber now.
Even if by some miracle Trump wins in November, I don’t see how any of this will change by any measurable degree anytime soon, if at all.
That’s the rotten thing about inflation… once the prices go up they typically never come back down. So the old grifting retard can spew lies about how he has ‘brought inflation down’ but what the idiot really means is that the rate of inflation has slowed somewhat. But the prices are still higher and will stay higher forever.
Yep. There was that BS put out by the regime a few months ago that gas prices are down by 20 cents a gallon. Instead of $5.05 a gallon it was now $4.85. Don’t worry, be happy!
Yeah well, gas was $2.19 a gallon here just 4 short years ago.
The problem with gas is that the price of gas folds into EVERYTHING ELSE that is sold, because it has to be transported.
It all depends on where you live. Gas is just $3.29 a gallon in my state. You could save a hell of a lot of money if you stopped eating junk food like Doritos and Subway subs. You would be healthier if you spent your money in a grocery store buying healthy food, and you would save the rest of us a hell of a lot of money from having to pay your future medical bills because of your glutinous junk food habits.
The Food Police have entered the chat.
Build Back Broke.
This was all intentional on Biden’s part, done by executive orders. Here is a synopsis from the National Review:
“Biden signed 17 executive orders on his first day in office, and two of them dealt with U.S. oil and gas production. One order pledged that America would rejoin the Paris climate accords and commit to the deal’s targeted reductions in carbon-dioxide emissions. The other order blocked oil and gas exploration in the Arctic National Wildlife Refuge, forbade drilling in large parts of Utah, and canceled the Keystone XL pipeline between the United States and Canada. One week later, Biden stopped issuing new oil and gas leases on public lands.”
These actions made diesel fuel go from $3 per gallon to $6 per gallon. The price of diesel is a large part of the cost of most consumer items. Farmers (plowing, disking, cultivating, and harvesting) basically turn diesel fuel and fertilizer into food. Then the food is trucked to where it will be sold, using more diesel. When you double the price of diesel, the prices of most foods will immediately jump. And they did.
200 Ways the Biden Administration and Democrats Have Made it Harder to Produce Oil & Gas
https://www.instituteforenergyresearch.org/regulation/200-ways-the-biden-administration-and-democrats-have-made-it-harder-to-produce-oil-gas/
We just have not tried socialism correctly!!/
I bought a crap ton of XOM when the financial gurus said fossil fuel stocks were done and XOM was sure to slash its dividend because hybrids and electric cars were the future.
I just checked one of portfolios in making this comment 172% gain.
A very large part of my investment strategy is investing in the EXACT opposite of what MSM says. I also bought a crap ton of stock options on March 18, 2020. I intended to buy a second crap ton a few weeks later, but sadly I made the first crap ton buy at the 52 week low.
I did similar when McCain and Obama both swore they knew how to fix the banks failing during the 2008 Presidential race, but in that instance I got the hell out of the stock market.
Hey, where’s BartE to tell us that this is all a lie, that gas is free and down at Tractor Supply they’re actually paying people to take propane off their hands?
One of the “leaders” in the climate bullschiff was this idiot. He’s repented a small tad, but I still think he should be sued into poverty for the rest of his life to pay back part of the billions wasted on his program he helped enact.
https://www.youtube.com/watch?v=N-yALPEpV4w&embeds_widget_referrer=https%3A%2F%2Fdisqus.com%2F&embeds_referring_euri=https%3A%2F%2Fcdn.embedly.com%2F&embeds_referring_origin=https%3A%2F%2Fcdn.embedly.com&source_ve_path=Mjg2NjY&feature=emb_logo
Oh dear what an example of right wing talking heads make prats out of themselves. Cherry picking some keys facts along woth wholesale ignoring the contents of the articles actually cited.
“It hasn’t taken effect yet — the CPUC is still weighing competing proposals and has a June deadline to settle on one.” On the cali bills referred too and quoting from the cited Article. Amazing
So your premise is energy prices have gone down?
It’s all happy Americans celebrating Biden stellar energy policies who are putting those “I did that” stickers of Biden on gas tanks. I mean I guess I don’t have hard facts to back that, so I could be wrong.
No lol, that doesn’t logically follow. My premise is that the article tries to explicitly link climate change policies to energy price increases when the actual citation demonstrates that this could not possibly be true.
Statements about Americans opinions vs the reality of what’s going on aren’t necessarily the same thing. Especially in the American media landscape where right wing media outlets misinform the public. This is particularly true on energy policy and performance.