Former US President Donald Trump warned that inflation is getting worse than ever, noting that the cost of energy is the biggest problem during an interview with Fox News.
Trump said gas cost $1.87 a gallon when he was in the White House, and now it’s more than $7 a gallon in California, using the phrase “the price of gas has gone through the roof.”
In the interview, the former president warned that although gas prices are slightly lower now, they will continue to rise “because it is going up like a rocket,” saying: “If you have a bakery, if you have anything, you have to heat it, you have to have the machinery, it’s all energy,” he told Bartiromo, also noting that the business depends on trucks and airplanes for transportation, which use energy as well.
When the host asked Trump what he thought could solve the problem of rising energy costs, he replied, “The first thing you have to do is produce energy and not rely on OPEC.” Trump then criticized the Biden administration for calling on OPEC to increase supplies.
In September, White House press secretary Jen Psaki said the administration “will continue to talk to international partners, including OPEC, about the importance of competitive markets, setting prices, and doing more to support the recovery.”
The move infuriated the domestic oil industry, which helped the United States achieve energy independence under President Trump and was scrapped by Biden, who implemented tougher policies for energy companies and shut down major pipelines.
Trump also criticized President Biden’s move to release 50 million barrels of oil held in the US Strategic Petroleum Reserve, with Americans paying more for gas now than they have in years.
“That’s a big deal,” Trump said, noting that the reserves were “earmarked for war” and were not intended to lower prices a bit.
The ex-president said that for decades the reserves “haven’t been full and then it really hit an all-time low,” and went on to say that when oil prices were low, “I said, ‘Let’s fill the strategic reserves,’ and we packed 75 million barrels. That’s a lot for next to nothing”.