The Biden Administration is Attacking Energy Production and Transportation Again, Expect Higher Energy Costs and Inflation for Longer

The Biden administration has cancelled oil and gas leases, banned natural gas transportation by train, and is instituting stringent restrictions on large trucks. These policies will increase energy prices. This will further increase the cost to manufacture and transport nearly every product Americans purchase. This will further increase inflation for much longer than most people realize. The only solution at this time appears to be removal of the current administration. Hopefully, it will get bad enough that the majority of American voters will wake up and vote for the candidate that will reverse these policies and return us to low cost energy. Abundant, low cost, and reliable energy is what separates first world economies from third world economies. It is a primary driver of economic prosperity. Higher energy costs hurt the poor and middle class the most. If you are in favor of higher energy costs so more green energy can be competitive you are anti-poor. Full period. Stop. We will likely face higher interest rates and inflation for longer due to these policies. If the next administration reverses these and other policies that impede economic activity, things will likely get better. Unfortunately, our economy will likely suffer for the next couple of years before things get better. If these policies are allowed to continue for another four years, expect the economy to get much worse. Economic changes will create opportunities. Reducing risk, reducing taxes, and staying highly liquid will allow you to be nimble with your funds. Your Personal Bank funds are interest rate sensitive. Dividends will likely increase for the next 3-5 years+. They are also guaranteed, highly liquid, and tax-free. This provides options and allows you to weather economic storms and to take advantage of opportunities. Contact Ferenc at YourPersonalBank.com or 866-268-4422 for more info.