{"id":3339,"date":"2026-07-20T19:41:55","date_gmt":"2026-07-20T19:41:55","guid":{"rendered":"https:\/\/interstatelogisticshubs.com\/?p=3339"},"modified":"2026-07-20T19:41:55","modified_gmt":"2026-07-20T19:41:55","slug":"putting-oil-prices-in-perspective","status":"publish","type":"post","link":"https:\/\/interstatelogisticshubs.com\/?p=3339","title":{"rendered":"Putting oil prices in perspective"},"content":{"rendered":"
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As the price of oil rises, the media and other Democrats repeatedly screech about how Trump is making things unaffordable; but in the past, they had no problem with higher prices across the board to push their agenda. The only time they pretend to care is when elections are coming up\u2014they don\u2019t change their policies though, just their rhetoric.<\/p>

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At the beginning of this piece, it is important to put to rest a lie that the media and other Democrats continually repeat. They falsely say that Biden inherited a disastrous economy, and his policies turned things around.<\/p>\n

When Jessica Tarlov on Fox News\u2019s The Five was asked about Biden\u2019s new book, she said he should focus on his major accomplishments like being responsible for having the fastest economic recovery in the world after COVID. That is an absolute lie. Here is the actual truth: Trump led the fastest economic recovery in the world, and the recession caused by COVID restrictions was the shortest on record.<\/p>\n

Non-farm payroll jobs dropped to 131 million in April 2020. By December they had risen to 143 million, or up an average of 1.5 million per month for 8 months. In contrast, in December 2021, after Biden\u2019s first year in office, jobs had recovered to 149 million, or up 500,000 jobs per month. Trump\u2019s recovery was clearly much faster than Biden\u2019s. It would have been even faster if blue states hadn\u2019t kept businesses and schools closed because they wanted to defeat Trump.<\/p>\n

Trump also handed off very low inflation despite the fast recovery and supply disruptions caused by COVID. Inflation for the year 2020 was 1.2%. In 2021, the inflation rate was up to almost four times what he inherited, at 4.7%. In 2022 inflation was up to 8%. That is Biden\u2019s legacy, having policies that brought inflation to a 40-year high, which still<\/em> makes things so unaffordable.<\/p>\n

But let\u2019s get to the oil.<\/p>\n

Trump\u2019s great energy policy led to very affordable oil prices and energy affects everything. Over 6,000 products use crude oil.<\/p>\n

Here is a history of crude oil prices from Trump\u2019s last months of his first term to today.<\/p>\n

In December 2020, crude oil averaged 47.00 per barrel. That was Trump\u2019s last full month in office.<\/p>\n

As soon as Biden took office, he signed executive orders to destroy the oil industry, as he promised in his campaign, and the price took off. He sent the world\u2019s producers and oil traders the clear message that the U.S. would not be a major competitor or producer in the future.<\/p>\n

By January 2022, crude oil averaged $86 per barrel. That was up 83% in one year, and it was before Russia invaded Ukraine. Yet, we didn\u2019t hear daily reports from the media telling the public that Biden was making things unaffordable.<\/p>

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By June of 2022, 18 months after Biden took office, the price was up to $115, which was up 145%.<\/p>\n

And what did the media and others say about the climbing inflation that defined the Biden years? The supposedly independent Jerome Powell said it was transitional. The general talking points were Russia, Russia, Russia, and Trump, Trump, Trump. They never blamed Biden\u2019s policies and spending because midterm elections were coming up.<\/p>\n

Here were the actual causes of the unaffordability:<\/p>\n

Biden\u2019s energy policies, Biden\u2019s profligate spending, Biden\u2019s open border policy, and the Federal Reserve\u2019s artificially low interest rates and easy money policy.<\/p>\n

In December 2024, Biden\u2019s last\u00a0 full month in office, oil averaged $74, which was still up 50% since Biden took office\u2014and that was after he\u2019d drained our strategic oil reserves to artificially deflate the prices at the pump.<\/p>\n

As soon as Trump took office in January 2025 he signed executive orders reversing Biden\u2019s disastrous energy policies. He sent the world the message that we would be a major producer and competitor once again.<\/p>\n

By January 2026, crude oil was down to an average of $64, or down 14% in one year. So in Biden\u2019s first year crude was up 83%, and in Trump\u2019s first year it was down 14%; yet no accolades from the media touting Trump helping their pocket book.<\/p>\n

In June 2026 the average was up to $85, or up 14% since Trump took office in contrast to Biden\u2019s 145%, and in this case, we were\/are in a major conflict in contrast to just helping Ukraine.<\/p>\n

Yet, most of the media will not point out that prices are down 26% from four years ago. They make the public think that Trump is much worse than Biden.\u00a0<\/p>\n

Here are a couple of simple economic concepts:<\/p>\n