When Biden entered office, he promptly nixed the Keystone XL Pipeline.
Afterwards, workers on the system protested the loss of jobs. Attorneys General from the impacted states explored their legal options.
Sadly, however, the economic impact of lost jobs and decreased gas production looks like it will be a hallmark of the current administration as the developer has now abandoned the project.
Along with a working vaccine, Joe Biden inherited a V-shaped economic recovery, but he is now planting the seeds of its destruction.
Inflation, federal deficits, high taxes, incentives for workers to stay home, and incentives to avoid investment – they’re all coming back. Together, these elements create the perfect brew for a Lyndon Johnson-style stagflation.
Coal-fired electricity generation climbed this year in the U.S. for the first time since the Obama administration, spurred by spiking natural gas prices, a setback for the Biden climate agenda and a sign that the president’s drilling crackdown may be backfiring.
The U.S. Energy Information Administration said Monday that electricity generated by coal-fired plants is expected to jump by 22% in 2021 over last year’s levels for the first year-over-year increase since 2014.
Democrat, Environmentalist, Liberal, Incompetence, Oops, Energy, Biden
The share of coal in U.S. power-generation is rising for the first time since 2014 amid Joe Biden’s crackdown on oil drilling and pipelines.
The Energy Information Administration found coal-fired power generation has increased by 22 percent over the past year amid surging prices of natural gas and oil. The cost of coal power stands at nearly $2 per million of British Thermal Units. Meanwhile, natural gas costs almost $5 for the same amount of energy.
The coal comeback comes despite Biden’s calls to eradicate the use of fossil fuels and a Democrat push for electric cars, which end up being powered by coal-fired power plants.
Biden Damage To American Energy Infrastructure...
It has been quite a transition for America, from being the world’s self-sufficient No. 1 oil producer to begging horrible foreigners to pump more fossil fuels. But by God, President Biden did it. With ease. In a matter of months.
Liberal Democrat With Big Plans...
"The president wants to make fundamental change in our economy."
Democrat, Liberal, Incompetence, Financial, Oops, Biden
Consumer sentiment in the U.S. has unexpectedly decreased in the month of May, according to preliminary data released by the University of Michigan on Friday.
The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.
"Consumer confidence in early May tumbled due to higher inflation--the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade," said Surveys of Consumers chief economist Richard Curtin.
In a recent interview with Ezra Klein of the New York Times on the legacy of his presidency, former President Barack Obama praised President Biden and his administration for "essentially finishing the job"...
"Did you ever think you’d be paying this much for a gallon of gas? In some parts of California they’re paying four dollars and fifty cents a gallon!"
Democrat, Liberal, Government, Incompetence, Oops, Economy, Biden
The now-former spokesman for District of Columbia Democratic Mayor Muriel Bowser told Fox News on Wednesday that President Biden's tenure in office has led him to change party affiliation and also to vote for GOP businessman Glenn Youngkin in the off-year gubernatorial election in Virginia, where he resides.
Victor Jimenez told "Tucker Carlson Tonight" that his political shift was not a small decision, adding that he was until recently the "lead public information officer at [Bowser's] office for community affairs" and previously held a similar role for Latino outreach.
Jimenez, who is an Afro-Dominican immigrant, according to a tweet from the DC Office of Latino Affairs, previously told Spanish-language network Telemundo that "Biden turned me into a Republican" and that the president has "destroyed the economy."
Washington Post During Biden Administration:
"Try To Lower Expectations"
Don’t rant about short-staffed stores and supply chain woes. Try to lower expectations. American consumers might have been spoiled, but generations of them have also dealt with shortages of some kind.
Now it's our turn to make adjustments.
"Milton Friedman isn't running the show anymore." -Joe Biden