Guest essay by Eric Worrall
After shutting down pipelines right and left, frightening investors with climate extremism, threatening or implementing new taxes and tougher regulations, and banning new leases on federal land, the Biden administration suspects foul play may be driving up the price of gasoline.
President Biden calls on the Federal Trade Commission to look into whether “illegal conduct” is pushing gas prices up
BY SARAH EWALL-WICE
NOVEMBER 17, 2021 / 5:32 PM / CBS NEWS
As gas prices soar across the United States, President Joe Biden called on the Federal Trade Commission to look into whether illegal conduct is driving up the cost of gas prices for families. Americans have seen rising costs, from prices at the pump to shopping at grocery stores.
In a Wednesday letter addressed to Lina Khan, chair of the FTC, Mr. Biden called her attention to “mounting evidence of anti-consumer behavior by oil and gas companies.”
“The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining,” Mr. Biden wrote. “The Federal Trade Commission has the authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.”
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Read more: https://www.cbsnews.com/news/gas-prices-biden-federal-trade-commission/
The following is a copy of Biden’s letter to the FTC:
I’m pretty sure I remember an economics unit in which the professor explained that if you choke off the supply of a commodity, with new taxes or punitive regulatory attacks on availability, the dot moves up this curve thing, resulting in consumers paying higher prices for less.
Perhaps President Biden needs an advisor who studied economics.
Every time a democrat administration is elected, taxation increases and the cost of living soars. There is not one democrat administration in my lifetime where this has not been the case.
You would think that voters would notice this. Apparently, they are too addicted to handouts to care.
They lost the suits brought by liberal state AGs.
Why not try the Feds?
The demand curve is shifting out because of vote buying with borrowed money. The production gap can be filled with imports–at a higher price, while giving money to the export countries for being on the list needing help in transition costs. simple
America has a dimwit for a president
sooner someone turns his lights out permanently the better for you
With all apologies to those with mental issues or damages
What a bunch of retards
No problem … no offense taken.
I miss Jimmy. /sarc
Isn’t Chair Kahn the evil tiger in Kipling’s Jungle Book? Oops no, that is Shere Kahn.
Meanwhile I find it absolutely terrifying that Biden has access to a nuclear button.
He has? You mean ‘He’?
I am sure Joe is getting his economics advice from experts such as AOC!!
I suppose the only surprise is that he is not blaming Trump. Perhaps even Xiden has realised that a year after he stole the election – sorry, given his demented state that should be stolen on his behalf – you can’t keep blaming Trump.
Jimmy Carter 2.0+ I am waiting for 18% interest on my CD account as the government attempts to find real money. Stagflation will become apparent after a poor retail Christmas.
Surprising results, immediately returned by the panel. Biden is an effin’ idiot!
I would like to point out that Canada is sitting on the third largest oil reserves in the world. What is becoming more apparent since our last scam election here is that means NOTHING. Not only are still been lead by a bunch of corrupt Liebel clowns with a minority government but the Crime minister in charge Trudope appointed an actual convicted terrorist as our new environmental minister. That former felon has been on record that he wants to shutdown the whole of our resource industry and he wants to have gasoline upward of $2.00 a liter at the pumps by the end of 2022. Higher Carbon taxes and “Clean Fuel” initiatives. Another tax incognito while reducing the BTU value of every fuel out there so we end up burning more to run everything. IE Ethanol in gasoline.
So I really hope that after the “Review” by the Army Corp of Engineers that line 5 will suffer the same fate as the last three environmental reviews that were forced upon resource projects here in Canada by Truedope. The response that killed 15 billion dollars of resource projects from the new 6 member environmental review panel was “Not In The Public’s Interest.” HUH? Where is the science in that response and who determines what the public is interested in.
Just remember who is in charge of the Army Corp Of Engineers. Oh that would ultimately General Milley the Chinese early warning system.
One other thing to note that line 5 has been in operation since the Mid 1950’s and Embridge has been trying to drill a non evasive tunnel under the Mackinaw Straight. They want to run a new line inside this tunnel to prevent anchor strikes like the one seen off of long Beach on the exposed oil line. They have had this proposal before the Michigan government for over 5 years now and are still awaiting a permit for construction. If this line is shutdown not only will Michigan, Illinois, Ohio. Ontario and Quebec be affected by the lack of oil and propane deliveries but it will go a long way to point out to these eastern neighbor’s how much they depend on Western Canadian oil fields. In the long run it maybe a good thing to have the east suffer their own stupid policies by draining their Liebel wallets to the point that they are marching on the capital demanding that they want to heat their homes and drive their cars to work.
Leftists’ “living on the other side of reality” has morphed into “living in the opposite of reality”.
A Civilization operating on lies is truly “unsustainable” to use the favorite word in the Vernacular of the Culture of Liars.
The Leftist Elites can’t sell their Utopia by telling the truth. Actually, they could try selling their visions of Utopia based on the truth…SO WHY DON’T THEY??
They lie constantly in the Press. Their lies and propaganda have always been a part of daily life the last 50 years. Those constant lies gave birth to the Rush Limbaugh phenomenon.
This Underground Leftist Elite cabal surfaced a century ago with the Wilson Administration. These Billionaire Families have steadily chipped away at the Institutions that support Western Civilization. They have captured and corrupted all of our Institutions:
The Press obviously, the Unelected Administrative Government Apparatus (“Deep State”), K-12 Education, Academia, Law, Justice (Corrupt Prosecutors and the “Legislating” Courts), Medicine and Medical Publications, Science and Science Publications, the Entertainment Industry, the Sports Industry, Elections are Corrupted (unauditable), Boards of most Fortune 500 Companies are Corrupt (they raised several $Billion for the Fraudulent Marxist BLM Movement), the Top Brass of the Military is Corrupt. Only the Rank and File Military and Our Police Forces remain mostly “True Americans”…and they are under constant attack (“Defund the Police”…really?).
The War against freedom and our US Constitution is well under way…and the enemies of freedom have all the weapons (Propaganda Press) and all the ammunition (Press Propaganda and Teacher’s Unions and University Professors running the Propaganda “on the ground”). And all of that Propaganda is based on lies and bat excrement crazy Social Theories.
Truth and Persuasion are not the tools they chose to use to gain legitimate power. All we get are lies and lying propaganda.
Why is that?
Why can’t we see their real motivations and their real plans?
Gasoline stocks are the lowest in 3 years. That’s the recipe for higher prices.
https://www.marketforum.com/forum/topic/77946/#78114
Make that the lowest in 4 years and soon to be the lowest in 7 years!