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Letter: President can calm inflation by lifting regulations on petroleum industry | Letters to the Editor

A recent Bloomberg article stated that the year will leave the average U.S. household spending $5,200 more compared to the year prior, which is an extra $433 per month on the same goods and services as last year.

Additionally, JP Morgan has stated that gas could be $6 per gallon by August. The benchmark price of oil is currently $110 per barrel and climbing, and has been thought to rise to $150.

Various economists on both sides of the political spectrum have said that inflation will continue well into 2023 if not beyond and that recession is a possibility.

The president has washed his hands of the situation that he has created by shifting blame to the treasury secretary and the head of the Fed Reserve. He says that he has done all he can to reduce inflation. Not true. He can lift the punishing sanctions and regulations that he has imposed on the petroleum industry.

Read More: Letter: President can calm inflation by lifting regulations on petroleum industry | Letters to the Editor

2022-06-10 01:00:00

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