This is a major problem the USA and the world will face in 2022. Inflation is climbing up, much more than anticipated, and to stop it the economy may suffer.
With President Biden's decision to banned drilling in Federal Land and all other restriction on energy, under the umbrella of Climate Change, the price of energy tripled and or quadrupled. With energy prices going up fast so is many other products associated with it or transported.
Now the same President is asking Russia and the Saudis to increase energy production so the prices in USA decrease. But that is against the interests of the oil producers' countries.
The economy relaxed on free money for few years, with low gas prices, but now, the money may not be too cheap as before and business investment may shrink accordingly.
The memory of Jimmy Carter's Presidency may scare the world that is much connected today than before.
Just a "scary" thought.
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