US Oil Exec: High energy prices caused by Biden's policies
2 Min Read
The CEO of Canary, a US oil company, tells Fox News that gas prices have been going up since before the war in Ukraine.
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US Oil Exec: High energy prices caused by Biden's policies
An oil company CEO commented on Fox News on the rise in gas prices in the US, saying they weren't actually caused by US oil companies.
As the White House accused US oil companies of price-gouging and not utilizing oil and gas leases to run up profits, Canary CEO Dan Eberhart accused the White House of stifling domestic oil production, calling the administration's claims "ridiculous".
US President Joe Biden announced last month that Washington would no longer import Russian oil and gas, and billed the high gas prices as the Putin Price Hike. Eberhart, however, said the gas prices were soaring well before the war in Ukraine began in late February.
"Everyone knows the price of gas was going up the [during] entire Biden administration, not just since Putin has started waging this war. And the policies have a chilling effect," he said.
The oil exec said that during the Trump administration, US domestic oil companies were producing up to 13 million barrels of oil per day.
"Now, with the better economy, with a higher oil price and more demand, we're producing 11.6 million barrels a day. The industry wants to produce more, [but] the policies have a chilling effect, and it’s showing," he stressed.
