News/Commentary

‘This is insane!’ Pelosi says Dems plan to give Biden the power to prohibit ‘Big Oil’ from raising prices

May 12, 2022 | | Print Article

As President Biden’s administration cancels a massive oil and gas lease in Alaska and continues to blame Vladimir Putin for soaring gas prices, House Speaker Nancy Pelosi has announced the Democrats’ plan for a gasoline “price gouging” bill that would grant Biden the power to prohibit oil companies from raising their prices to match the demand created, in large part, by the Biden administration’s own policies.

“Price gouging needs to be stopped,” Pelosi told the press on Thursday. “This is a major exploitation of the consumer, because this is a product the consumer must have.”

“Again, the Putin price hike at the pump is part of this,” the Speaker added.

But it wasn’t Russian President Vladimir Putin who just made it even more difficult for gas and oil companies to keep up with the demand developed when the Keystone pipeline was cut off and exacerbated by the imposition of heavy sanctions against Moscow in response to Russia’s attack on neighboring Ukraine.

No, once again, it was Biden’s own administration that seems intent on crippling Big Oil at any cost to the American people, as evidenced by the cancellation of a lease that, as American Wire News reported, “would have granted gas and oil companies access to over one million acres of drillable land in Alaska’s Cook Inlet.”

According to a statement from the Department of Interior to CBS News, the lease was canceled due to an alleged “lack of industry interest in leasing in the area.”

But, Frank J. Macchiarola, senior vice president of Policy, Economics and Regulatory Affairs for the American Petroleum Institute, isn’t buying it, calling the cancellation “another example of the administration’s lack of commitment to oil and gas development in the US.”

And now, with the midterms approaching rapidly and American commuters crying at the gas pumps, Pelosi has once again resumed her claims that, next to COVID-19 and Putin’s evil deeds, it is the insatiable greed of Big Oil that must be stopped.

In late April, the House leader hinted at the proposed legislation.

“Democrats are working to stop Big Oil companies’ outrageous profiteering and price gouging, which is keeping gas prices unfairly high and hurting families across the country,” Pelosi tweeted. “We will continue fighting #ForThePeople to lower costs for families at the kitchen table.”

“Guys. This is insane,” stated Exodus CEO Joshua Fontanilla following Pelosi’s Thursday announcement. “Like, this will literally send us into an economic depression.”

“Oil companies will simply cut supply more, and the economic death spiral won’t be able to be stopped,” he explained. “EVERYTHING is based on oil. If we destroy that industry, it’s all over. Food, heating, etc.”

And Fontanilla isn’t the only one sounding the alarm.

“They aren’t content with a Recession,” warned another Twitter user. “The Dems want a Depression. Get ready.”

“Now we will have real shortages,” predicted a third. “Feels like we live in Venezuela.”

“I’d love to know what the ‘Putin tax cut hike’ is,” mused yet another user. “It’s like the libs have some sort of random word generator that they use to write speeches.”

 

Melissa Fine
Latest posts by Melissa Fine (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

Latest Articles