If you thought that American life became expensive under the Biden administration, you haven’t seen the worst of it yet.

The U.S. Energy Department projects heating bills for Americans who rely on natural gas, which is roughly half of Americans, to increase by 28% this winter.  

Americans are in no position to face such a dramatic increase in energy costs.  According to a recent survey, nearly 70% of Americans have less than $1,000 in savings in their bank accounts.

Even worse, the average household with a mortgage carries over $172,800 in debt. With an economy that is already in a recession and verging on a depression, Americans are going to have an incredibly difficult winter.  

 Now that you understand the financial situation of most Americans, here is the average increase in costs for heating this winter according to the Energy Information Administration:  

Natural Gas: $931 (+28%) 

Heating Oil: $2,354 (+27%)  

Electricity: $1,359 (+10%) 

Propane: $1,668 (+5%) 

It’s no surprise that natural gas has become so much more expensive. The United States used to be one of the leading producers of natural gas.

However, Joe Biden kept his promise upon entering office and banned oil and natural gas development on public lands. At the time, economists estimated that this would cost the American economy $670 billion dollars over the next 20 years.  

This cost to the American economy was underestimated as economists did not foresee a coming war between Russia and Ukraine.

While this estimate did factor in the loss of energy jobs and the increased cost of importing oil and gas, it did not predict the international supply of natural gas would rapidly increase in price and decrease in supply.

Due to Joe Biden’s ban on domestic energy production, we quickly became reliant on foreign oil and are now paying the price for it.  

Some families have seen what is coming and are preparing.

Main resident Aaron Raymo began stocking up on heating oil over the summer, slowly filling his 275-gallon oil tank. Raymo has already witnessed the cost of heating oil creeping up but is glad he started stocking up when he did.  

Those families who do not have sufficient savings and are unprepared may have to make difficult decisions. In Joe Biden’s America, many families will have to decide between heating their homes and feeding their families.  

In September of 2020, President Trump, at a rally in North Carolina, claimed that “the economy will collapse” if Joe Biden was elected. Unfortunately, Trump was not exaggerating in this instance.

Even mainstream media outlets, such as Bloomberg, have now realized that Biden’s economy is a disaster. We can only hope that the American spirit of charity can help those that are struggling get through this terrible winter because we can be certain the Biden administration won’t help. 

 

 

 

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