The NPR Politics Podcast Fuel Squeeze And Inflation Marker Could Create Trouble For Biden—If They Last
May 13, 2021
Fuel shortages on the East Coast spark panic buying, while the president insists the situation will stabilize soon. The impact of a recent cyber attack raises questions about political accountability. Economic indicators reveal slower job growth and rising inflation, posing challenges for the Biden administration. The opposition party sees an opportunity to criticize the administration’s ambitious infrastructure agenda. With evolving consumer behaviors post-pandemic, the political fallout could shape the economic landscape.
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Gas Pipeline Shutdown
- The Colonial Pipeline, which supplies nearly half of the East Coast's fuel, was shut down due to a cyberattack.
- This led to panic buying, long lines at gas stations, and price spikes, highlighting the political sensitivity of gas prices.
Political Fallout of Gas Crisis
- President Biden assures the situation is temporary and warns against panic buying and price gouging.
- While the cyberattack is attributed to criminals, not the Russian government, Republicans criticize Biden's handling of the situation.
Inflation Concerns
- The Consumer Price Index showed a 4% year-over-year increase in April, the highest since 2008, raising inflation concerns.
- While some economists view this as transitional due to supply chain disruptions and increased demand, others worry about a long-term trend.