He lambasted the decisions and economic policies of Joe Biden.
Former US President Donald Trump has once again attacked the administration of current President Joe Biden for his policy that has led to the current energy crisis in the country.
“We are a nation that has the highest energy costs in history. We are no longer energetically independent or dominant like we were two years ago. We are a nation begging for oil from Venezuela, Saudi Arabia and many others. ‘Please, please, please help us,’ says Joe Biden,” declared the former president at a rally held in the city of Waukesha, Wisconsin, to campaign for some Republican candidates.
In parallel, he alluded to the economic statistics that predict a crisis in the country.
“We are a nation in decline. We are a nation that is failing,” Trump said, mentioning that today the country has the highest rate of inflation in about 40 years, while the stock market “just finished the worst half of the year since 1870.”
Energy and economic situation in the US
In March, the US introduced the embargo on Russian oil due to the military operation in Ukraine.
Then, the country has faced the rise in gasoline prices that on June 14 marked its historical record after reaching an average of 5,016 dollars per gallon, according to data from the American Automobile Association (AAA). Currently, the rate nationwide is $4,084 per unit.
To alleviate the crisis, Washington undertook a series of measures. In particular, in May it authorized US and European oil companies to “negotiate and restart operations” with Venezuela after years of sanctions against the South American country.
On the other hand, during Biden’s visit to Saudi Arabia last July, from Riyadh they announced that they will increase the daily production capacity of crude oil to 13 million barrels, but only for 2027, after which there will be no such possibility.
As for the economic state, top US officials, including the current president, have declared on several occasions that the country is not in a recession.
However, on July 28, the Office of Economic Analysis of the Department of Commerce reported that the country’s gross domestic product (GDP) contracted 0.2% in the second quarter of 2022 compared to the previous three months, which technically it constitutes an informal indicator of economic recession.
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