Coffee prices soared to a 10-year high on Monday, with experts projecting the high costs to last well into 2023, CNBC reported.
Coffee contracts for December hit $2.34 per pound at the end of Monday’s trading day, CNBC reported. Coffee futures on the New York Intercontinental Exchange soared to $2.46 on Thursday, recording the highest price since 2011.
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Under former President Donald J. Trump, for the first time in decades, the United States became a net exporter of natural gas and oil. That helped to keep global energy prices relatively low. It also gave the United States leverage over the international system in ways it had not enjoyed since before the 1970s.
Alas, the propagation of the novel coronavirus from Wuhan, China, along with the ceaseless lies of the Western “mainstream” media made such a prosperous and secure future under Trump an impossibility.
In the eight months since assuming office under a cloud of controversy, Joe Biden has done more to harm America’s inherent strategic advantages in the global energy market than any U.S. rival could have imagined. Under Biden, the United States has gone from being a net exporter of global energy to begging the Organization of Petroleum Exporting Countries (OPEC) to produce more oil for the world to consume.
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