President Joe Biden recently evaded responsibility for record-high oil prices by asking the Federal Trade Commission to investigate “anti-competitive behavior” by oil companies.
National gas prices are at historic highs, inflation is at a 30-year high, and a supply chain crisis has been broken under the Biden Administration. But President Biden is trying to avoid any responsibility for his failed energy plan by blaming oil companies.
President Biden stated that he would not accept Americans who work hard paying more for gas due to anti-competitive conduct or other potentially illegal conduct. He said that he asks that the Commission examine the current situation in oil and gas markets and that all tools of the Commission be used if there is any wrongdoing.
Biden referred to record-setting gas prices in the U.S and said that the Federal Trade Commission is authorized to examine whether illegal conduct is costing families at the pump.
President Biden requested that the agency investigate oil companies despite his administration starting a regulatory war against U.S energy.
Biden canceled the Keystone XL Pipeline shortly after assuming office, which would’ve carried 35 million gallons per day of crude oil from Nebraska to Texas.
Biden has also opened energy markets to Russia by building a pipeline between Russia and Germany, which will directly impact U.S oil producers that sell to European countries.
President Biden is currently considering whether to close the Line 5 oil Michigan pipeline, which has been in operation for 78 years. Twelve federally recognized tribes have requested that the administration terminate the pipeline.
A recent poll found that only 40% of registered voters approve of Biden’s energy policy, with a majority of voters believing that President Biden is dishonest, untrustworthy, and incapable of leading the country.
The post Joe Biden Blames Record High Energy Prices On Oil Companies, Calls For Investigation appeared first on Political Daily.
THIS PRESIDENT had to FAIL his Economic Class, Basic Math Class, Accounting Class and Basic Business Class! Anyone with a High School Education should be able to determine his Oil & Gas Policies are causing the higher Gasoline Price, BUT OF COURSE he does not ever except RESPONSIBILITY FOR HIS MISTAKES. First step is having a product everyone wants, second is to secure supply of feed stock (raw materials or Crude Oil), the manufacture to usable product (refining Crude Oil into Gasoline, Diesel Fuel, Jet Fuel, Plastics, etc.). The second part is cost of obtaining said raw material or Crude Oil. Cheapest form of obtaining this is local drilling and gathering of Crude Oil on U.S. soil not from overseas. Cheapest method to get Crude Oil to the Refinery is Pipeline (Keystone XL, etc.) not SUPER TANKERS from a foreign country. Now this is the basics from an Economic Standpoint.
When a company figures cost of transportation SUPER TANKERS are more expensive than Pipelines.
Foreign Oil Prices are more expensive than domestic production.
So what is the RESULTS – HIGHER FUEL PRICES.
Someone needs to give our Government a lesson in DOMESTIC TRADE to FOREIGN TRADE!
DOMESTIC keeps profits here in the U.S. and cost is less.