Biden demands oil and gas companies lower prices ahead of midterms, as reserves dwindle: ‘Do it now!

[mystery-ak]

Biden demands oil and gas companies lower prices ahead of midterms, as reserves dwindle: ‘Do it now!’
September 27, 2022 | Kevin Haggerty

It’s no mystery that the pain at the pump felt in all sectors of the economy has been a result of intentional policy-making by President Joe Biden to accelerate a forced transition from reliable energy to the Green agenda.

Never one to let facts get in the way of the narrative, during the third meeting of the White House Competition Council the president pushed the blame for lingering high fuel costs on “greedy” oil and gas companies yet again, seemingly adding “competition” to the list of words his administration has attempted to redefine.

“We haven’t seen the lower prices reflected at the pump though,” Biden remarked as he touted the “historic progress” of average prices dropping by more than a dollar after they had skyrocketed to a record high of $5 per gallon under his watch.

https://twitter.com/Breaking911/status/1574570504173719552

“Meanwhile, oil and gas companies are still making record profits, billions of dollars in profits,” he claimed without context as to the breakdown in the price at the pump before targeting the lowest rung on the ladder.

“My message is simple, to the companies running gas stations and setting those prices at the pump, bring down the prices you’re charging at the pump to reflect the cost you pay for the product,” he demanded. “Do it now! Do it now!”

Ownership of gas stations falls on a spectrum from independent operators to refinery-owned establishments and, as Fox Business pointed out, the price of crude oil has dipped from around $122 a barrel in June when the nationwide average price of gas remained at $5 to about $76 Monday when the average price of gas was just above $3.70.

Factoring in the actual profit the gas station earns per gallon sold, ranging from $0.03 to $0.07 according to The Hustle, compared to around$0.70 in taxes collected at the federal and state level, it would seem, under Biden’s direction, his aim is not to foster competition, but to move it out of the way of government.

more
https://americanwirenews.com/biden-demands-oil-and-gas-companies-lower-prices-ahead-of-midterms-as-reserves-dwindle-do-it-now/

[rustynail]

It's working!  Only Up fifty cents this week here in NKY!

[DefiantMassRINO]

 

Dear President Dimentia,

Prices are high because your Global Climate Change policies are restricting/reducing supply.

In economics, scarcity creates values.

Evil energy corporations are making record profits because:

- Global Climate Change policies have increased prices
- They are reaping the rewards of decades of private risky capital investment
- They can't spend new money on exploration, development, transportation, and additional refining capacity because the Biden Administration won't let them do those things

Capital spend that normally would be re-invested in bring additional energy to the market has to be used for acquisitions, retiring debt, dividends, and stock buybacks.

Also, this is the time of year when suppliers let their existing inventories of Summer Gas run down as they switch over to Winter Gas, as mandated by EPA.  So, twice a year, gas prices spike during the seasonal gas switchovers because the Gubmint says the companies have to do it.

It's your own damn fault Granpa Joe.  Suck it.

Signed,
An existential deplorable radical terrorist racist homophobe xenophobe threat to democracy.

[EdinVA]

He must really think he is a dictator.... no go joe...

[sneakypete]

Has Slow Joe cried any crocodile tears yet?

Just think for a minute about just HOW freaking stoopid the typical Dim union voter has to be to vote for the Dims even AFTER Biden is on tv demanding the oil companies that he FORCED to raise prices by shutting down some of their sources,lower their prices now because the Dims need the Dummy Vote.

[GtHawk]

He must really think he is a dictator.... no go joe...

Joe puts the DICK in dicktator.

[Fishrrman]

As I recall, ol' joe's "do it now" tactic actually worked back when gas was peaking at 4.85 a gallon around here. Not sure why, unless prices had actually been inflated "above costs" by entities in the production/refining/marketing lineup...

[Smokin Joe]

FJB!

[mountaineer]

Just when you thought he couldn't say anything stupider than whatever he said the day before ... 

[Wingnut]

Just when you thought he couldn't say anything stupider than whatever he said the day before ... 

He is a one man brain trust.

[mystery-ak]

Biden mindlessly yells at gas station owners to slash prices at the pump: ‘Do it now’
September 28, 2022 | Terresa Monroe-Hamilton

President Biden once again shirked any responsibility for skyrocketing gas prices and instead demanded that gas stations cut prices at the pump for drivers despite their costs to stay in business being dictated by the market.


https://www.bizpacreview.com/2022/09/28/biden-mindlessly-yells-at-gas-station-owners-to-slash-prices-at-the-pump-do-it-now-1289973/

[catfish1957]

Wow, most are making pennies on the gallon, and are mostly relying on convenience store sales for profitability.

Despicable.

[Wingnut]

Maybe he should have whispered for the full Joe Biden effect.

[catfish1957]

Maybe he should have whispered for the full Joe Biden effect.

Pedo Joe and his lackeys have declared scorched earth war on anyone associated with the oil industry.

If we could get just 100% alignment of all of us in oil politically, 8-10M maybe? we could do some serious damage.

[Gefn]

Stock market is in the toilet today.

Wonder if this is one of the reason(s)

[240B]

There are Dems out there who are still -holding the faith-. And they do believe that regardless of all the Destruction Pedo Joe has caused in America and the world, that he is still -better than Evil Trump-.

Still waiting for 30 FBI thugs to start raiding gas stations at gunpoint, stealing their phones as they love to do, and forcing them to lower gas prices before the midterms. Even if it means the station will lose money on every gallon sold.

[GtHawk]

I just put gas in my car, less than I thought I would because gas has gone up $1.20 in the last 7 or 8 days....another Biden success 

[DB]

His handlers are just trying to get in front of what's coming this winter.

Blame high prices on those evil energy companies and not what his administration has done to make them skyrocket.

It's like an abusive husband demanding that you stop bleeding while beating you. It's all your fault your bleeding...