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NEW YORK CITY (77WABC) – John Catsimatidis, the billionaire owner and CEO of New York City supermarket chain Gristedes and 77 WABC Radio is calling for the White House to “stop the war on North America” amid rising inflation on food and gas.
On his first day in office, President Biden revoked the permit for the Keystone XL oil pipeline project ending a project that was expected to employ more than 11,000 Americans this year. The very next say Catsidmatidis held a press conference announcing that “anything that is transported will see its price go up.”
The president also temporarily suspended the issuance of oil and gas permits on federal lands and waters.
The consumer price index rose 6.8% in November from a year ago, according to a Labor Department report, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rent – jumped 0.8% in the one-month period from October.
Price increases were widespread, with energy prices jumping 3.5% in November, up 33.3% year over a year. Gasoline is a stunning 58.1% higher than it was a year ago.
On Wednesday, oil inched higher by 1% nearing $78 per barrel. The national average for a gallon of gas was $3.29, slightly higher from the day before and $1.03 higher than the same time last year, according to AAA.
