Varney: If Biden didn’t cave, US wouldn’t have extreme energy price inflation

In his latest "My Take," "Varney & Co." host Stuart Varney discusses skyrocketing gas prices as the U.S. sees record inflation, arguing if President Biden didn't cave to the Green New Deal, the country wouldn't have "extreme energy prices."

STUART VARNEY: Inflation has sure gotten our attention. Buy anything, and you get a shock when you see the price. Keeps going up!

Last year, the Federal Reserve and the president said it would be "transitory." It would fade.

Wrong.

Inflation is still with us, and it’s going to stay with us…

Energy price inflation, especially, is about to go up some more.

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Today, the Europeans announced a plan to end Russian oil imports by the end of the year. You know what that means, oil goes up.

It hit $106 this morning.

Just as important, we have a new record high for diesel: $5.43 a gallon. That’s factored into the cost of just about everything!

Gasoline up again: $4.23 a gallon and that's the average as of today.

The economists just love to talk about the "core" rate of inflation.

They take out food and energy, so the rate of inflation looks a bit better.

But we don’t pay the "core" rate. We pay the prices tag on the item, and we can see it's going up.

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It didn’t have to be this way. If Biden had kept our energy independence. If he’d kept drilling and fracking and building pipelines. If he’d not caved to the Green New Deal, we would not have the extreme energy price inflation we have today.

I think it gets worse this summer. I think it hurts everyday Americans. And I think it stays the number one concern, the number one issue for the elections this November, no matter what happens at the Supreme Court…

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