Posted on 07/26/2022 8:27:49 AM PDT by rktman
President Biden warned oil companies last week that if they don’t do more to help address rising prices, he will revoke their drilling permits on federal lands.
While touting that gas prices have fallen to below $4 at 30,000 gas stations across 35 states, he said more needs to be done.
"First, we’re going to look at ways to increase oil production from the existing wells and permits that exist today," he said. "The industry has more approved permits for production on federal lands than they can possibly use. That’s a fact. Let me say it again: They have more than they can use.
"So my message to these companies is: Use the permits or lose them. Don’t say we can’t — you don’t have access," he added.
Second, I’m telling the industry, “You’re making record profits due to Putin’s war in Ukraine. Use those profits to increase production and refining. Don’t use those profits to buy back your stocks and dividends.”
Look, thirdly, we’ll talk about a global price cap on Russian oil — that I got our partners to agree to last month at the G7 — that will keep supply up and Putin’s revenues down. In the days and weeks ahead, I’m going to keep doing what I can to bring down the price of gas at the pump. (White House)
(Excerpt) Read more at townhall.com ...
Biden is the Costanza president - he does the exact opposite of what good sense would urge. And he’s a loser.
Has he ever even signed the front of a paycheck for anybody? Even in government, there are those who sign the front of a paycheck.
OK, maybe he signed the front of a relief check. But that’s not the same thing.
Fake AND demented, not a good combo for leadership.
No oil company is going to drill on a permit that they already know has no oil. 🤪
So, Biden’s solution to sky high prices is to make them even higher.
Joe Biden, the “moderate” Dem candidate for POTUS.
“First, we’re going to look at ways to increase oil production from the existing wells and permits that exist today,”
In other words we are not going to allow a single new source for oil. There is enough oil to last a thousand yeas but the climate a-holes will not let us use it.
I figure it’s a workaround for the real reason. Since Biden can’t just revoke permits willy-nilly for carbon reasons (SCOTUS), he’ll just invent a new reason: alleged price gouging.
Don’t be too sure. Biden is a spiteful bully who hates everyone and everything that doesn’t worship him. I conclude he is firmly in charge. He planned to be the most historic president ever and is doing everything he has ever wanted. He wanted this for,decades.
They mean president Newsome. Right?
regardless of which personality is actually in charge, this seems to be a deliberately planned trainwreck in slo mo for the entire us economy...
Joe Biden has never had a private sector job, or run any company.
Just like 0bama.
5.56mm
He, and his masters, are such @sses.
If Biden doesn’t do more to stop the destruction of our country we are going to revoke his white house living privilege’s.
Right from the mouth of a guy who has never had a real job.
We are going to shut you down. Use all your revenue to explore new areas and as soon as this looks like it is over or after the election, we will shut you down.
Yup. He’s a royal POS.
You had it at Joe knows nothing
You had it at Joe knows nothing
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