Biden's war on fossil fuels damages the US economy

 Jack Hellner:

After Joe Biden took office, he immediately told the world his main goal was to get rid of fossil fuels -- and inflation started to rise.

We were first told that the inflation was rising because Biden's excellent policies have caused the economy to recover. The truth is that the economy started to recover in the 3rd quarter of 2020, under Trump, and was rapidly improving before Biden took office.  And yet we didn't have high inflation.

Then, without evidence, Biden, Fed chairman Powell, Treasury Secretary Yellen and others said that the inflation was transitory and would soon subside. They made this up to allow them to continue spending massive amounts of government money and to continue to print money and keep interest rates artificially low, near zero. This caused the inflation problem to rapidly compound.

Then OPEC was blamed for the high oil prices. But OPEC didn't raise prices much during Trump's years because we were major competitors.

Then it became the greedy oil companies who also somehow weren't greedy during Trump's years.

Now the oil price and all inflation, which has been raging for over a year, is all caused by Putin.

We have also been told that the reason for high inflation is because the job market and economy are so good. Somehow, we had record low unemployment during Trump and low inflation so that is also a blatant lie.

There are two basic types of inflation:

Demand Pull and Cost Push [emphases added]

Demand-pull inflation is the upward pressure on prices that follows a shortage in supply, a condition that economists describe as "too many dollars chasing too few goods."

Cost-push inflation (also known as wage-push inflation) occurs when overall prices increase (inflation) due to increases in the cost of wages and raw materials. Higher costs of production can decrease the aggregate supply (the amount of total production) in the economy.

When the Federal Reserve raises interest rates, it is a good way to tamp down inflated prices on things like real estate and stock prices. That helps address demand-pull inflation.

The problem is that a significant amount of the inflation today is a classic case of cost -push inflation, where the government is intentionally limiting the supply of energy products, and energy prices affect everything we buy and use. As the price of energy rises, businesses raise their prices to cover their costs. Then workers demand higher wages to cover rising prices and businesses have to raise their prices higher.

The problem compounds until the supply issue is resolved.

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The Democrats falsely claim that fossil fuels are causing "climate change."  History exposes this as a lie as Hellner further explains.

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 There is no scientific data from the last 150 or 1,000 years that shows that humans and fossil fuels control the climate or the temperature. It is pure arrogance and fantasy to pretend otherwise,

If the media, the Biden administration and other Democrats truly wanted to solve the inflation problem and help the poor and middle class they would support going back to Trump policies of energy independence instead of seeking to decimate everyone by continuing their efforts to destroy the tens of millions of jobs directly and indirectly related to energy. 

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The global warming and climate change scams are used as an excuse to push the left's Big Green agenda of using unreliable wind and solar and overusing the grid for electric cars.