Posted on 04/15/2024 1:09:35 PM PDT by yesthatjallen
Energy prices, particularly the cost of electricity, have skyrocketed since President Biden took office, outpacing inflation and putting a dent in Americans’ wallets.
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.
“There is no improvement here, we’re moving in the wrong direction,” Greg McBride, chief financial analyst for Bankrate, told Fox Business.
“The usual trouble spots persist — shelter, motor vehicle insurance, maintenance, and repairs, service costs. Add electricity to that list, up 0.9% in March and 5% over the past year.”
SNIP
(Excerpt) Read more at nypost.com ...
All while Biden’s handlers are trying to force everybody to drive EV’s.
Build Back Better!!!!
Brandon Bankrupt (America) Better!!
The cost of electricity will necessarily skyrocket.
From bho.
Leftists will try to tell you that there’s nothing Biden can do about it, and it was Trumps fault.
January 20, 2021 premium gas in Florida was $3.05
Today premium was $4.45 a gallon.
Do the math, it ain’t pretty.
5.56mm
I’m surprised gas, diesel, and fuel oil have not yet doubled because of the current Middle East situation.
I fully expect it to as is usual when there are problems in the Middle East.
Might be good for people to plan ahead while gas and fuel oil are somewhat reasonable. I was hoping they’d go down before the elections because the democrats count on American’s short memories and they can pass this off as biden’s doing, but the Israel./Iran thing my preclude that.
May preclude that (a price decrease).
Another Biden policy goal met
And the price of electricity is higher than it seems. The wind energy subsidies by the Feds is something like $50 per Megwatt- hour. That is invisible to the energy markets, but taxpayers are providing that money.
Plug in a Tesla.
Tear down a dam.
What could possibly go wrong?
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