Biden is going after oil company profits, blaming them for the rising fuel prices that have been caused by his policies. Russians, Republicans, oil companies, it is everyone else’s fault that his socialist policies are failing. Isn’t that always the case when communism and socialism fail? They didn’t do it right? Or something?

At any rate, he has demanded that they slash profits and make more fuel. This is impossible, of course. US refineries are already at 96% of capacity, and it would take years to build new refinery capacity, even if the Democrats would grant the permits. In fact, oil companies will likely not build another refinery in the US, ever. Since the west has stopped buying Russian fuel, the refineries that are remaining just can’t keep up.

Instead, the left will continue to blame oil company profits. Look for price controls to come next. Perhaps a Biden EO nationalizing the oil industry. Or a 100% tax on oil company profits, or perhaps they will come up with something else that is even less likely to work, but more likely to screw things up more. Why?

That’s what socialists/communists do.


WDS · June 15, 2022 at 7:46 am

All while releasing more oil from the SPR and then flying off to Saudi Arabia to beg for more oil. To add insult to injury, Biden’s “Climate Envoy” John Kerry stated there’s no need to drill for more oil.

TechieDude · June 15, 2022 at 7:47 am

This is one of those “Are they really that stupid or are they doing it on purpose” moments.

That old bastard was in congress during carter. Any idiot alive then should know what they did and why it didnt’ work.

My answer is they are doing on purpose because they’re stupid.

The true believers pulling that imbecile’s strings want expensive fuel. They’ve said so.

J. Smith · June 15, 2022 at 7:59 am

This is Fascism. Go after the speculators, they are a big cause. Open up the pipelines, renew the leases and permits. Some permits are still good, companies arent using them due to market, political unpredictability and costs.

    Phil B · June 15, 2022 at 9:45 pm

    try reading The Vampire Economy – Doing Business Under Fascism by Gunter Reiman. It was published in September 1939 in the USA. There are a LOT of parallels with the situation today and anyone who reads it willbe convinced that Fascism is NOT a “right wing” political system but the early stages of Communism.

No Left Turn · June 15, 2022 at 10:11 am

Venezuela once had one of the top economies of the world and they sent oil to the East Coast because there was plenty to spare.
Squaw Lizzie Warren of the Bolshevik tribe let slip the coming price controls in the spring.
JoJo Brandon is prattling on about reckless spending out on the lawn with dress socks, tank top, boxers and a 1950’s push mower.

anonymous coward · June 15, 2022 at 4:02 pm

But. But. This time those price controls will work!

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