Biden Attacks Oil Companies
Some very interesting things have happened.
President Biden has threatened to use emergency powers if American oil companies did not begin to produce more oil at their refineries via a series of letters written directly to the oil companies.
According to Fox, Biden accused the oil companies of running “historically high profit margins” even though gas prices were shockingly high across America.
Biden wrote, “There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing. But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain.”
Biden added, “Your companies and others have an opportunity to take immediate actions to increase the supply of gasoline, diesel and other refined product you are producing. My administration is prepared to use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied.”
Interestingly enough, after Biden issued the letter to these oil companies, prices for gasoline across America began to dip. This raised the concern with some Americans that maybe U.S. oil companies were indeed jacking up prices on Americans for more money.
Other Americans are now asking why Biden took so long to address the oil issue which has been going on for countless months now. Why did Biden take so long to act?
