by Amy O. Cooke
Chief Executive Officer, John Locke Foundation; Publisher, Carolina Journal
“Just let them buy Teslas.” That’s the policy of President Joe Biden and North Carolina Gov. Roy Cooper are putting forth in the face of an energy crisis that’s forcing families to choose between food and gas.
Energy poverty is no joke, and it can be deadly. Energy – in this case gasoline – is a necessity. Pain at the pump is forcing families to choose between getting to their job or school and paying for daily needs like food, medicine, shelter, clothing, heating, air conditioning and other critical expenses.
Jon Sanders of the John Locke Foundation wrote: “Wealthier people can weather price spikes in energy by shifting resources away from luxury purchases or less important spending items. (Producers of those things, however, will suffer a double hit — losing business while facing higher energy prices — and what will happen to their workers?)”
Britons are already feeling the squeeze by the spike in energy costs, with The Daily Mail reporting that some have or are considering selling their car to save on gas and others are making the decision to cut back on their food bills. Combine that with a massive rail strike spreading throughout the country, making it even more difficult for people in rural areas to get to their jobs, and it’s a recipe for disaster.
We’re not immune here in the United States, and I think we could see gas prices spike up to $6.00 a gallon before the end of summer.
So, what’s the solution? Well, our President and Gov. Roy Cooper appear to ascribe to the Marie Antoinette approach, which is to “just let them buy Teslas” instead of cake. We all know how well that ended.
They call this energy crisis an “incredible transition,” but my wallet calls it something else, which is not suitable to say on video.