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 ...
He’s getting desperate. He’s going to run out of strategic oil reserves to sell off soon.
Liberals never figure out to just: Get. Out. Of. The. Way.
The guy couldn’t run an ice cream truck.
Fascism...
Where socialism sought totalitarian control of a society’s economic processes through direct state operation of the means of production, fascism sought that control indirectly, through domination of nominally private owners.
Where socialism nationalized property explicitly, fascism did so implicitly, by requiring owners to use their property in the “national interest”—that is, as the autocratic authority conceived it.
https://www.econlib.org/library/Enc/Fascism.html
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Brandon...
Don’t use those profits to buy back your stocks and dividends.”
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.
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And the prog call themselves “anti-fascists?”
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This is not an accident!
This is a head-fake.
The left has been pushing Biden to revoke these permits as part of a “climate emergency”.
Biden is just doing it by threatening the companies to produce more when he knows that cannot.
This is an attempt to placate the enviro-whackos
LOL, 90% of oil production is currently on private lands. How many of those 9000 federal leases actually produce oil?
So....he does all he can to restrict supply then bitches at them because supply is restricted and threatens to further restrict supply unless they immediately increase the supplies he restricted in the first place.
Yeah, that'll realllllly help prices come down!..........................THESE PEOPLE ARE MORONS!......................
So was Haman in the Bible book of Esther and look what happened to him!.........................
When I read this, I heard OBAMA's voice saying it.
Go ahead joe refund those permits. In fact I double dare you to do so when you find the legal authority to do it. You total pos.
Legal authority?! Read that again and then consider who we’re talking about. Just sayin’...........😵💫
Biden is a business genius. He fully understands what every business in the supply chain needs to do to improve the economy. Thank God we have a President so wise on so many issues. Just watch, he’ll tell oil refiners to turn the crackers up to 120% percent and gas stations to lower their prices with all the excess supply coming their way.
"Unless you lower gasoline prices, we're going to triple the Federal gas tax! Come on, man! I'm running out of patience here!"
The old fascist is telling private companies how to run thier business. Biden is in fact a fascist.
Big threats from such a little man.
But nothing preventing them Big Oil companies from drilling more oil and gas, huh BidenIdiot?!
Good analogy.
My first thought is that his actions are much a like another leader from a long time ago.
He asked for increased production of fired mud bricks without providing any straw.
Biden and Pharaoh. Two peas in a pod.
They’re about to find out what a real coup looks like. Event the Nat Guard and marine arracks won’t be able to stop it.
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