Jackie DeAngelis sounds alarm on inflation 'tipping point,' predicts $5 national gas average

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DeAngelis: We will reach a tipping point with inflation

FOX Business correspondent Jackie DeAngelis says Americans may feel the real pressure from inflation in the summer when gas prices hit a seasonal high.

FOX Business correspondent Jackie DeAngelis warned Wednesday on "The Faulkner Focus" that there will be a "tipping point" for Americans with inflation rising, predominantly at the gas pump. In her new Fox Nation special "Bone Dry," DeAngelis spoke to oil producers who said they have drilling leases but are hesitant to invest in domestic oil due to fears President Biden will continue to wage a war on fossil fuels. 

AS BIDEN'S BIG OIL BLAME GAME RAGES, ‘BONE DRY’ DIGS INTO HEART OF AMERICA'S ENERGY CRISIS

JACKIE DEANGELIS: There's going to be a lot of Americans out there who they came out of the pandemic and they had saved some money. They took inflation on the chin. They wanted to be out, have experiences, travel with their families. And of course, they're going to continue to put food on the table and fill their car with gas to get from point A to point B. But there is going to be a tipping point, where people just can't do it anymore. Maybe it's sometime this summer when gas prices reach their highest point seasonally. … You could see gas prices shoot up closer to $5 when we hit July 4th. That's the peak of the summer driving season. 

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There's one thing that will help, and that's to get the drillers to pump oil. Now [Biden] is standing back and saying, 'This is corporate greed. This is Big Oil. They want to profit off this. They don't want to work that hard.' That's not true. I have a new special on Fox Nation. It's called ‘Bone Dry.’ We go into some of the oil-producing regions. We speak to the drillers themselves, and they say, 'We have the 9,000 leases, but we're afraid to invest. We're afraid to put our money where our mouth is.' Because we don't know what he'll do. Actually, we're predicting what he's going to do is continue to wage a war on fossil fuels.

WATCH THE FULL INTERVIEW BELOW:

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