On Wednesday, Democrat President Joe Biden made yet another lame effort to shift blame for inflation on anyone but himself. This time, the president called on the Federal Trade Commission to launch an investigation into major gas and oil companies regarding skyrocketing gas prices. Biden cited “anti-consumer behavior” as being behind the price increases, unwilling to confess that his anti-energy and radical spending policies might be to blame.
The American Petroleum Institute instantly fired back with a response, arguing that Biden is trying to throw a red-herring to distract from his “ill-advised government decisions” which they added are “exacerbating” an already “challenging situation.” The API suggested that rather than investigating what is already a closely monitored and regulated market or turning to OPEC to make up the supply gap, that the Biden administration should consider allowing the “safe and responsible development” of domestically sourced oil and gas.
Biden’s letter to the FTC argued that “costs are declining” for gas and oil companies even though prices at the pump are high. He pleaded to the FTC that they should exercise their authority to investigate the matter “immediately,” and use their already strengthened oversight power over the gas and oil sector in light of recent mergers that “result in less consumer choice.”
Biden continued to argue that oil industry profits were skyrocketing as fuel costs decline and that a “large gap” existed between the average cost at the pump and unfinished gasoline. Biden then pontificated for the little guy by saying that he cannot “accept hard-working Americans” having to pay increased gas prices due to “anti-competitive… conduct.” In closing, Biden instructed the FTC to “bring all… tools to bear” against gas and oil companies.
Biden can’t truly be oblivious to the fact that gas prices are actually a consequence of his ceaseless war on American energy. The first actions the president took when he entered office was to shut down drilling leases on federal lands and axe the Keystone XL pipeline. Biden has continued his war against affordable energy as recently as two weeks ago, weighing the possibility of shutting down Pipeline 5 in Michigan.
The truth is that Biden needs a scapegoat for rising gas prices before the midterm elections arrive. The economy generally, and consumer prices in particular, are key indicators of how well the incumbent party will fare in an election cycle. If Biden can’t correct the numbers at the pump by next year, he will be a lame duck for his last two years in office.
Author: Ann Martin