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Biden Facing New Economic Crisis

by Market FinancePosted onAugust 30, 2021August 30, 2021

Will he be able to figure this out?

President Joe Biden is now dealing with a potential fuel shortage in Louisiana and Mississippi due to Hurricane Ida.

In transcript provided by Fox Business, White House Press Secretary Jen Psaki said, “There are a range of tools at our disposal that the federal government has to address fuel supply shortages during national disasters by issuing emergency waivers of certain fuel standards in affected areas. Obviously, if warranted by circumstances, EPA’s temporary waivers can help ensure that an adequate supply of fuel is available.”

“EPA, as well as several components of the government, are in touch with our state partners in Louisiana and Mississippi, as well as operators of refineries, pipelines, tanks and other infrastructure to assess the situation on the ground and what needs exist to ensure the supply of transportation of fuel,” Psaki added. “We have not made that assessment in time but we do have those authorities should they be needed.”

Gas prices have risen due to Ida.

US natural gas prices rise to the highest level in 32 months as Hurricane Ida curbs production 🌀

Nearly all natural gas output in the Gulf of Mexico has been shut (that makes up about 3% of total US output)

Meanwhile, US LNG exports appear to be largely unaffected by Ida #ongt pic.twitter.com/CZhpP0aLon

— Stephen Stapczynski (@SStapczynski) August 30, 2021

Biden appears lost as he stumbles over words and frantically flips through pages in his binder during a Hurricane Ida briefing with Governors, then turns to his advisor and asks: “Who are we going to next?” pic.twitter.com/wEJru2112x

— Benny (@bennyjohnson) August 30, 2021

Here is a look at the sheer power of Ida shortly after it made landfall in Lousiana:

This is what it’s like being in the direct path of a Category 4 hurricane. This was the scene Sunday in Port Fourchon, LA, as #HurricaneIda blasted through. https://t.co/wQEMcOJybV pic.twitter.com/aKlDkYpN59

— NBC DFW (@NBCDFW) August 30, 2021

* Additional Disclaimer: All content provided by this newsletter is for informational and educational purposes only and is not meant to represent trade, investment, or healthcare recommendations.

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