On the Brink: Fuel and milk formula shortages are gripping the US inflation-ravaged economy, amid Trump’s veiled call for massive street rallies

Here are the fruits of Joe Biden’s economic debacle: political chaos, economic collapse, desperate baby formula shortages, social upheaval, and now increasing fuel prices.

Today, many oil market analysts predict that prices of oil and its products, such as gasoline, heating oil, and jet fuel, will rise given an evident lack of American refinery capacity, setting the stage for a fuel shortage catastrophe across the US this summer.
Rising demand, exacerbated by diminished refining supply, has pushed US petroleum product inventories below the seasonal average in the past few years.
According to economists, there is no immediate remedy to the rising price of gasoline in the United States. The shortest solution is not what Americans want: a recession that will lead to massive unemployment.
Among American populations stricken with abject poverty, fuel price increases will ultimately threaten to cause civil unrest.
The average nationwide price of gasoline surged from $4,523 last Tuesday to $4,567 on Wednesday, as reported by the American Automobile Association (AAA). Last year at this time, prices were $3,043, marking a dramatic price increase of more than 50% in only one year.
Following the COVID-19 outbreak, which drastically dwindled global market demand, Bloomberg estimates that over one million barrels per day of US oil inventory capacity has shrunk. Furthermore, according to the US Energy Information Administration (EIA), US oil reserves declined by 3.39 million barrels, while gasoline reserves plummeted by 4.77 million barrels, according to EIA figures.
In an interview with CNBC TV, Paul Sankey, senior analyst at Sankey Research, stated, “[Biden’s] administration can’t do anything,” alluding to the fact that a refinery could not be built in a short time to alleviate the ongoing gasoline and diesel shortages.
“We are on the verge of an oil crisis in the United States, and it is evident that we are facing a historic gasoline shortage,” Sankey emphasizes. “We’ve never seen such low levels of inventories, particularly in the northeast of the US,” Sankey added.
“With market demand, US retail prices could rise another 37% to the $6.20/gallon national average by August,” said JP Morgan’s head of commodity research, Natasha Keneva.
Additionally, according to CNN’s financial correspondent, the Dow Jones is experiencing its longest weekly losing streak since 1923, flashing a recession warning sign.
According to a recently published study on April 28 by the United States Department of Commerce, the nation faced an unanticipated recession in the first quarter of 2022, in light of declining stock prices and worries about a looming recession period, adding that US economic growth dropped by 4% in the first quarter of 2022, compared to the same time the previous year.
Meanwhile, compared to the previous year, inflation has climbed in all sectors of the US economy, as the housing industry grew uncontrollably by 5.1%, while the price of automobiles exploded by about 30%.
American media outlets also report that the price of dairy products has also increased by 15% in the past month compared to the same period last year. Fuel prices have also soared in California, reaching more than $6/gallon last week.
As fearful shortages of fuel, food, and rising inflation embroil American society, many social activists believe that overwhelming food, gasoline, infant formula, and medical supply shortages will gravely impact low-income households. To put it another way, here is how economists describe the current situation: the cost of living would go up as a direct result of higher fuel prices, and trying to recoup these costs through increasing tariffs would have a devastating impact on society.
Simultaneously, former US President Donald Trump lashed out against Democrats in a recent statement, claiming that Biden’s administration has transferred another $40 billion to war-torn Ukraine, whereas more American parents struggle to feed their newborns, describing the unprecedented crisis as a “national disgrace.”
Mr Trump noted that American families are desperately unable to afford milk formula for their babies, adding that American families with babies who have severe allergies and need easy-to-digest formula are in even more dire condition.
The US House of Representatives ratified $40 billion in aid to Ukraine earlier this week.
The former president’s incendiary attacks on Democrats emerge amid Biden’s blatant indifference vis-à-vis the national powdered milk catastrophe while offering $40 billion in aid to Ukraine.
Many political observers interpret Trump’s scathing criticism as a clear appeal to public rebellion and an invitation to mass protests against Biden’s disastrous domestic policies. Trump appears to be seeking to help Republicans win the midterm congressional elections by making such acrimonious outbursts against Democrats while laying the ground for victory in the next US presidential race.
In the midst of Biden’s never-ending fiascos and his deteriorating health condition, an increasing majority of Americans believe he will not be able to finish his four years in office and that his inevitable impeachment in Congress will soon take place.
Trump’s statements are likely to aggravate internal tensions, triggering the dangerous socio-economic faultlines and recurrent assaults and looting of shops that erupted after the tragic death of George Floyd.
The present economic collapse in the United States will be precipitated by growing inflation rates, fuel and food shortages, and persistent racial discrimination as more American citizens blame Biden and his fellow Democrats for provoking Moscow to wage an all-out invasion of Ukraine.
To sum up, the fearful prospect of fuel, food, and baby formula shortages and rising inflation embroil American social fabric and may spark civil turmoil.