Build Back Better Risks Supercharging “Greenflation”

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Posted: Nov 20, 2021 12:01 AM

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After months of telling American consumers that the inflation before their eyes was transitory or just a high class problem, the Biden administration has finally conceded that prices are indeed on the rise. Unfortunately, the renewable energy provisions within the president’s ‘Build Back Better’ reconciliation bill risk pushing costs even higher. Without overhauling the regulations that restrict the domestic production of critical minerals, the president’s bill will heap even greater demand on already slim resources.

From the supermarket checkout to the newspaper headlines, it’s hard to miss that inflation is at a 31-year high. A significant driver of that rise has been energy prices. For example, in Houston, the October price of motor fuel was up by 60%, year-over-year. In the Bay Area, consumer electricity prices are up 16% from last year. Across the country, the Bureau of Labor Statistics’ data suggests that urban energy prices haven’t been this high since 2008.

As the country approaches a cold and expensive holiday period, the

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