Biden asks oil, gas firms not to profit at expense of Americans
US President Joe Biden pleads with oil and gas companies to reduce their prices.
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US gas prices broke a record last week, surging to more than $4 per gallon
US President Joe Biden pleaded with US oil companies on Wednesday, asking them to reduce gas prices given that oil and gas prices have declined recently.
“Oil prices are decreasing, gas[oline] prices should too. Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it’s $4.31. Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans,” Biden said on the official POTUS account on Twitter.
Oil prices are decreasing, gas prices should too.
— President Biden (@POTUS) March 16, 2022
Last time oil was $96 a barrel, gas was $3.62 a gallon. Now it’s $4.31.
Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans. pic.twitter.com/uLNGleWBly
US gas prices broke a record last week, increasing to more than $4 per gallon for the first time in 14 years after Biden went ahead with a decision to ban oil and gas imports from Russia.
Despite a decline in global prices, US gas prices continued to increase and only fell by 2 cents today to $4.3 per gallon.
In March 2020, Biden, who was a candidate at the time, said "No more subsidies for the fossil fuel industry! No more drilling on federal lands! No more drilling, including offshore! No ability for the oil industry to continue to drill, period. [It] ends. Number one!" when he declared war on US energy independence.
Earlier this week, Biden suddenly changed his rhetoric: "Loosening environmental regulations won’t lower prices. But transforming our economy to run on electric vehicles, powered by clean energy, will mean that no one will have to worry about gas prices. It will mean tyrants like Putin won’t be able to use fossil fuels as a weapon."
