President Trump has issued a stark warning for Americans to take rising inflation seriously.
“It looks to me like inflation is going to ravage our country,” Trump said in an exclusive interview with Yahoo Finance.
Trump pointed to surging oil prices, now at their highest level since 2014, as evidence of inflation’s return.
“It’s very scary when you look at gasoline from $1.87 a gallon when I was president, it went from $1.87 and now it’s well over $5 that it’s going to go a lot higher,” he said.
Inflation is one of the issues that will figure in his decision whether to run for president again in 2024, said Trump.
On the same day he was inaugurated, January 20, 2021, President Biden canceled the federal permit for construction of the Keystone XL oil pipeline.
The pipeline was expected to deliver 800,000 barrels per day from Canada to the US. TC Energy, which runs the pipeline immediately announced the termination of 1,000 jobs. This chart shows the rise of oil prices (the WTIC benchmark price) trending higher through much of 2021.
“What it’s going to be at a year from now, I think is going to be much higher than” current levels, said Trump of future energy prices.
Yahoo Finance will release its full interview with Trump on Monday (10/11/21).