Energy Prices Have Soared 30% Under Biden

A recent Wall Street Journal analysis of the Bureau of Labor Statistics data has shown that energy costs in the United States have risen 30% since President Joe Biden took office in January of 2021.

That staggering figure has become the subject of much media coverage, as the New York Post and others have echoed the findings of the bombshell analysis. For Americans, heating and cooling their homes while keeping the electricity flowing has simply never been more expensive.

Not only have prices increased tremendously under Biden, but exponentially higher in the last four years than the previous seven years prior to Biden’s Presidency. In those seven years, energy costs in the United States only increased by 5% total.

Energy costs under Biden have increased 6x that of the increase between 2014 and 2021, highlighting the unbelievable increase in energy prices that has occurred over the last several years.

The New York Post reports on this analysis,

From January 2021 to this month, electricity prices rose from $0.14 per kilowatt-hour to $0.17 — a 28% boost, according to the report.

And gasoline prices, while down from their 2022 peak, are still 52.1% higher today than when Biden took the White House, Fox Business reported.

Meanwhile, Biden, through one of his major legislative achievements — the Inflation Reduction Act — has allocated billions of dollars into clean energy alternatives.

The 730-page Inflation Reduction Act committed $369 billion to environmental projects, including grants to renewable energy companies and tax breaks for consumers

“In that law, Joe Biden and his supporters celebrated the passage of the largest green energy slush fund in history and all it is delivering are higher prices across the board,” Daniel Turner, founder and executive director for Power the Future, told Fox Business.

The New York Post

For Americans, the price of everyday essentials like groceries and energy have never been higher. While the White House continues to tell Americans that inflation is decreasing, prices are not.