Michael Lodge - The Business Advisor

The Cost To Make Anything Has Gone Up 11%

May 12, 2022

Michael Lodge, NCPM, CRTP: The cost of producing something in the United States has gone up 11% under Biden. Which means to produce fuel for our cars the cost of refining it has gone up. Several refineries have been shut down because the Whitehouse has imposed strict rules that has made the production of fuel more costlier. Yes, the price of a barrel of gas goes up and down, but the cost to produce that fuel has gone up - raising gas prices even when the price of a barrel of oil goes down. Biden's energy rules on refineries has raised gas prices significantly.

But to make anything in the US the costs of gone up and has been passed onto the consumer. Many items are made with oil. When that goes up so does the cost of the product being made. Including the costs of higher taxes, tariffs, labor, transporting, and so forth. When the president makes a energy policy switch that is burdensome on businesses, that harms many things that are made, everything goes up.

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