Biden energy policy, root cause of inflation.

BIDEN'S POLICIES CAUSING INFLATION AND ENERGY CRISIS WORLDWIDE

WITHOUT POLICY REVERSAL INFLATION WILL CAUSE ECONOMIC SLOWDOWN

Last night Biden made the claim that the supply chain, greedy food processors and covid were the cause of record high inflation. The real cause is the Biden administrations war on fossil fuel production. This began the first day of his administration by stopping the building of pipe lines and his environmental czar, John Kerry's pressuring major financial institutions to deny financing to any companies engaged in fossil fuel production. This not only restricted energy production in the United States, which was for the first time in decades energy independent, but took enough enough energy out of the world market to raise prices worldwide. This was the beginning of the inflation spiral that is just beginning to be entrenched in the world economy.

Without any effort to find a suitable replacement for fossil fuels this administration has raised the price of everything that requires fossil fuels for either production or transportation of these good to consumers. This is the vast majority of all goods needed for life as we know it. It is a very dangerous move, that due to the enormous debt of most western nations, there are few tools left to put the brakes on this new inflationary spiral.

It is likely that this policy will destabilize the world energy market, it is already creating an energy crisis in Europe that will also lead to political turmoil worldwide. 

It will lessen the ability of oil dependent nations to be able to deal with a long list of other problems both social and political. It will give a economic and political advantage to those who are energy exporters or at least energy sufficient.

A reversal of this energy policy would be the quickest and most effective way to deal with this new energy and inflation crisis. We can soon expect to see demands for wages from all sectors to counter their loss of buying power. This will accelerate a wage and price spiral that would be hard to contain by a competent administration. 

We can expect that this administration will double down and propose government centered solutions instead of just freeing the private to expand production. Few people today remember the inflation of the 1970's, it affects the poor and low income segment of society most of all. Who will this administration blame for that catastrophe.