Posted on 11/17/2021 8:55:49 AM PST by karpov
President Biden called on the Federal Trade Commission to investigate whether oil-and-gas companies are participating in illegal conduct aimed at keeping gasoline prices high.
In a Wednesday letter to FTC Chair Lina Khan, Mr. Biden alleged that there is “mounting evidence of anti-consumer behavior by oil-and-gas companies.” He said gasoline prices are rising even as the price of unfinished gasoline goes down.
“This unexplained large gap between the price of unfinished gasoline and the average price at the pump is well above the pre-pandemic average,” Mr. Biden wrote. “Meanwhile, the largest oil-and-gas companies in America are generating significant profits off higher energy prices.”
The president called on Ms. Khan to “consider whether illegal conduct is costing families at the pump,” asking her to “bring all of the Commission’s tools to bear if you uncover any wrongdoing.”
The American Petroleum Institute, the industry’s top lobbying group, called the letter a “distraction from the fundamental market shift that is taking place,” adding that demand has increased as the economy picks back up.
“Rather than launching investigations on markets that are regulated and closely monitored on a daily basis or pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American-made oil and natural gas,” Frank Macchiarola, the group’s senior vice president of policy, economics and regulatory affairs, said in a statement.
Representatives for Exxon Mobil Corp. , Chevron Corp. and BP PLC didn’t immediately respond to a request for comment on the letter. A Royal Dutch Shell PLC spokesman declined to comment.
Mr. Biden and his senior advisers have for weeks been weighing policy options in response to high gas prices, amid mounting concerns about inflation.
(Excerpt) Read more at wsj.com ...
Now wait a minute. I thought they WANTED higher gas prices. You know, because “climate change.”
FJB!
The Fraudulent Imposter illegally in the White House wants the unconstitutional and, thus, illegal FTC to probe possible ‘illegal conduct’ by oil, gas companies.
You can’t make this stuff up.
Wait...didn’t they say inflation was a good thing?
Yep....fine those big oil companies. That’s sure to lower prices.
This bunch is such an embarrassing collection of nitwits.
Biden shuts down pipelines and makes oil and gas harder to get and less of it flowing, then wonders why the prices skyrocket???
What a dipsh*t.....
Bringing the POWER of government down on an industry once again. MARXIST!!!
President Biden called on the Federal Trade Commission to investigate whether oil-and-gas companies are participating in illegal conduct aimed at keeping gasoline prices high.
Says the guy who IS responsible for high gas prices!
Just what we need to bring down gas prices...a long
photo op investigation.
How about OPEC, I mean Brandon is asking them to
raise production now, when in six months their profit
margin will increase by 40 percent when they do.
Hard to believe someone this stupid is our CEO.
Have Democrats really always been such bold liars?
It’s like they burn down a hotel and then sue the owners for not having rooms.
Biden literally choked off production.
Supply > demand. It’s not a mystery, presumably even to someone as stupid as Biden.
this idiot can’t plan his policy message and response more than a week in advance.
Just more evidence this corrupt pedophile and alzheimers patient was imposed on America by a coup / organized color revolution.
You have to hand it to these commies. They get into office, make decisions that directly impact things like the price of gas, then they blame anyone and everything but their policy. And the media do its job in support of them. Quite a racket they have going.
Goebbels at his best could match this lying communist POS!
Classic Jimmy Carter move....
They must have dug through the old archives for this one...
“...Hard to believe someone this stupid is our CEO...”
Biden is “CEO” in the public eye only...I truly believe things are being run behind the scenes by Obama and friends...
Biden is obviously too mentally inept to do all that has happened...He is being directed and accepting these directions because he knows no better...
A little history:
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