The White House presses on Biden’s pledge to go to war with Big Oil, as he now blames them for inflation
NEWYou can now listen to Fox News articles!
On Friday, one of President Biden’s top economic advisers was pressured by his campaign promise to go to war with the US oil industry, as he now urges them to produce more and even reduce their “exorbitant profits”.
During a brief gag, Biden told reporters that if “you just base it on what a barrel of oil costs, then it should actually not be that high … they make exorbitant profits.”
“They could drill, but they do not,” he said. “I think we’ll be in a position there -”[ads1]; he began to conclude before First Lady Jill Biden appeared, and he turned around.
Biden’s financial adviser Jared Bernstein told Fox News on “The Story” on Friday that Biden has really reached out to oil leaders as he seeks cooperation: “He is fighting for the middle class at the pump, and that is exactly what he should be.”
GOVERNOR OF ALASKA SAYS BIDEN IS LOOKING FOR OIL ‘ANYWHERE ON THE PLANET EXCEPT HOME’
President Biden has blamed Putin and others for inflation and high gas prices.
(Drew Angerer / Getty)
However, the adviser was later pressured on Biden’s earlier promises to confront the oil industry, including an exchange with a woman in New Castle, NH, where he said: “Kiddo, I want you to just look me in the eye – I guarantee you, we’ll come to put an end to fossil fuels, and I will not cooperate … ”
In a debate, Biden promised to end subsidies to industry, drill on federal land or offshore, and added “… no opportunity for the oil industry to continue drilling, period Link Judi Slot Online Mudah Menang Terbaru.”
On the first day of his administration, he also shut down the Keystone XL pipeline, which would have transported oil from Alberta, Canada to Port Arthur, Texas.
BID OUTCOME FOR WARNING TO BIG OIL AS ENERGY SECRETARY EXERCISES STOCK OPTIONS
A sticker by President Joe Biden is placed on a gas pump at an Exxon station
(Photo by RJ Sangosti / MediaNews Group / The Denver Post via Getty)
“The guidelines that have led to it – We have not built a new refinery in this country since 1970. It goes back a long way in the war against this industry – So now the president says do more, refine more, get more product to market,” he said. Fox News host Martha MacCallum.
Referring to a response to the Chevron administration, MacCallum reported that the oil industry wants a sensible withdrawal of recently imposed regulations for their work, so that they can produce more in the United States and reduce costs that way.
Chevron said in a statement that the Biden administration had announced its intention to place “obstacles” in the way of its mission to meet global energy needs.
CLICK FOR FOX NEWS APP
Bernstein replied that Biden rightly wants to negotiate with energy leaders, while keeping an eye on what the administration considers the future of American energy – green power.
“I think when it comes to politics, we need to go and chew gum at the same time. We need to make sure these companies have the support they need right now,” Bernstein said. “And frankly, the fact that they pump more than they’ve ever had before and they have so many leases available to them, suggests they have the ability to pump more.”
He added that people who do not believe that the green energy sector is the right way to expel foreign “petro-states” and their “toxic impact on global politics” do not pay proper attention.
