Joe Biden’s week went from bad to worse after a leading CEO made one prediction

Things aren’t going well for Joe Biden these days.

His problems are just beginning too.

And Joe Biden’s week went from bad to worse after a leading CEO made one prediction.

The American economy is a disaster under President Joe Biden’s catastrophic mismanagement of the country.

Americans are facing skyrocketing prices across the board, eating away at their financial well-being and standard of living.

Nowhere is this more evident than gas stations across the nation, where the price of a gallon of gas has now doubled since President Biden first stepped foot in the White House.

Gas prices are at all-time highs, crossing the once unthinkable $5 per gallon national average threshold with no sign of any relief in sight.

Joe Biden has single-handedly brought California’s outrageous gas prices to the rest of the country through his war on American energy production.

Instead of addressing the problem he created, President Biden has been laser-focused on pushing so-called “green” energy policies as the solution to this crisis.

Biden regime officials have been promising that relief is just around the corner for the American people.

White House Chief of Staff Ron Klain touted a story from the corporate-controlled media last December predicting that prices would drop this year to under $3 per gallon this year.

But with no end to the pain at the pumps in sight, the Biden regime is now reluctantly admitting that high prices are here to stay.

Biden Energy Secretary Jennifer Granholm recently admitted on CNN that government forecasts predict gas prices will top $4 a gallon for the rest of the year.

Now, the CEO of one of the world’s largest oil companies gave the President a grim prediction about how long such high gas prices could stick around.

ExxonMobil Chairman and Chief Executive Darren Woods said the oil industry is facing major uncertainty in the years ahead.

“You are probably looking at three to five years of continued fairly tight markets,” Woods told the Qatar Economic Forum. “How that manifests itself in price will obviously be a big function of demand, which is difficult to predict.”

“We are going to see a lot of volatility and discontinuity in the marketplace if we don’t get to more thoughtful policies,” he predicted.

Woods said that governments and companies needed better long-term planning after years of underinvestment in the oil industry.

Decades of threats of crippling regulations from Democrats have scared off American oil companies from making new major investments while politicians like Joe Biden threaten to put them out of business.

Qatar’s Energy Minister Saad Sherida Al-Kaabi slammed the “demonization” of oil companies and the threat of windfall profit taxes threatened by so-called “leaders” like Joe Biden.

“I don’t see the governments coming to pitch in when [oil companies] were losing money and borrowing when the oil price was negative in Texas,” he said.

Three to five more years of tight markets from a lack of supply will put upward pressure on prices.

And if demand stays high, $5 per gallon gas could become the new normal for Americans.

Based on Woods’ prediction, high gas prices will be a problem that Joe Biden could be stuck with for years.

Stay tuned to Conservative Underground News for any updates to this ongoing story.