It's the same old song, but not by the Four Tops
We've been here before. Gasoline prices go up, and a Democrat president wants to throw the DoJ at the oil companies. This is from the Washington Free Beacon:
Gas prices in the United States reached a seven-year high in November, with the average gallon of gas costing $3.41. One year ago, gas cost, on average, $1.29 less. Based on data from the American Automobile Association, Americans are spending roughly $19.65 more to fill up their cars than they did a year ago.
While the president alleges illegal activity by oil and gas companies, market analysts consistently point to a worldwide spike in demand as the primary driver of higher gas prices. Higher costs are not limited to the United States, with heating oil prices in the United Kingdom set to increase by 12 percent this winter when compared with last year. Biden's letter comes just days after White House Press Secretary Jen Psaki said higher gas prices show why Americans should transition to more "clean energy options."
Damien Courvalin, a senior commodity strategist at Goldman Sachs, warned that, without more investment in production from oil companies, gas prices could stay higher for several years. Democrats' demands that oil companies stop drilling activity, Courvalin said in an interview last month, will cause "much higher energy prices in the coming years."
So why is the Biden administration going after the oil companies? Who shut down the Keystone Pipeline? Who is talking about shutting down the Great Lakes' Line 5 pipeline? I hear that it pumps millions of gallons of oil into the United States. Who said during the campaign that he'd stop oil companies from constructing any refineries in the United States?
So the oil companies are an easy target, and no one in the media will ask him about it. It probably pleases the "greenies" who live in a fantasy land of alternative energy not ready to run a single U.S. factory or city.
The Biden administration is flailing and failing. My guess is that most Americans are not buying these latest attacks on oil companies.
PS: You can listen to my show (Canto Talk).
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