President Joe Biden has now threatened to use “emergency powers” against oil companies to lower gas prices, which have hit record highs and surpassed a national average of $5 per gallon this week.
Biden reportedly sent a letter to oil companies blaming them for high gas prices.
“There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing,” Biden wrote. “But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain.”
The Biden administration has accused companies of price gouging, but Biden’s critics have pointed to his policies to prevent oil drilling and pipeline development.
Biden’s threat sparked major controversy.
Joe Biden promised to put oil companies out of business as a presidential candidate.
Now he is threatening them with ’emergency powers’ if they don’t boost supply.
You can’t make this up.
— Daniel Turner (@DanielTurnerPTF) June 15, 2022
Senile President threatens oil companies for results of his policies.
What is Biden going to do?
Have the federal government run refineries?
— Steve Milloy (@JunkScience) June 15, 2022
Could’ve had a pipeline https://t.co/SfSYsMovN3
— Blaise Boehmer (@boehmerB) June 15, 2022