Biden's energy idiocy continues
NY Times:
Biden Accuses Oil Companies of ‘War Profiteering’ and Threatens Windfall Tax
President Biden has been eager to redirect public anger over gas prices as Democrats try to keep power in Congress in the midterm elections.
Biden reduced the supply of oil driving up prices then started draining the Strategic Petroleum Reserve to lower prices. Both moves have been strategic blunders that have made fuel more expensive and harmed national security. While Biden was halting production in US-controlled sites he was also begging foreign countries to produce more and even buying oil from Russia at one time. None of his energy policies made any sense and nor does his threat to raise taxes on oil companies that will increase their cost and that cost will be passed on to consumers.
Biden is making Trump look like a genius on energy policies. Trump was certainly smarter than anyone in this administration.
If he wants to see lower prices take all the restrictions off US production. Doing so would also lower the inflation Biden produced by reckless spending and reducing energy production.
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