Biden warns oil industry against gas price gouging during Hurricane Ian. Here's what to know.

  • 📰 USATODAY
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

President Joe Biden warned oil and gas companies Wednesday not to use Hurricane Ian as an excuse to hike prices at the gas pump as the Category 4 storm storm barrels into Florida.

"Do not – let me repeat – do not use this as an excuse to raise gasoline prices or gauge the American people," Biden said in a speech at the White House.Biden said only 190,000 barrels of oil in the Gulf of Mexico have been impacted so far by Hurricane Ian, accounting for just 2% of daily U.S. production. Biden said the"small, temporary storm impact on oil production" should provide"no excuse" for price increases at the pump."None," he said.

By delivering a warning shot to oil and gas executives, Biden is going after one of his favorite targets. The president has regularly criticized the oil and gas industry – unpopular among the Democratic base – this year for record profits amid historic prices at the pump.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Yeah don’t you dare increase costs that’s my realm! The IRA reinstates a 16.4-cents-per-barrel fee on crude oil and other petroleum imports that aims to pay for the cleaning of hazardous waste sites. Yet the tax 'will be paid by consumers in the form of higher gas and energy cost

Totally ignoring the fact that he caused all of the current increase. POTUS You are a liar and a traitor.

That's something you would never hear from Nazi gop

Local gas is $5.49 already

Hey POTUS, maybe you could help with telling PUC in Rhode Island to NOT raise energy costs by a WHOPPING 48%? That’s a bit much, don’t you think

They won't. they will just use your terrible economy.

Pedo Peter has mubbled something

Certainly

It’s started going up before Hurricane…. Do you hear how many days straight gas prices have gone down lately?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 100. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden talks with DeSantis, warns oil companies as Hurricane Ian nearsWith Hurricane Ian barreling toward Florida, Pres. Biden detailed his administration's efforts to prepare for the storm and warned residents to heed warnings from officials. ABC you better do articles on what a great job DeSantis is doing handling the hurricane He's about to give another 12 billion dollars to Ukraine while Florida needs help. Thank you Joe, for proved us what a great president Donald was. while refusing to call GovRonDeSantis to provide his support. Politics over the safety of fellow Americans. That is what this President is doing to the great people of this nation. Floridians will stand with Gov DeSantis before standing with Biden.
Source: ABC - 🏆 471. / 51 Read more »

Biden Warns Oil Industry Not to Raise Gas Prices as Hurricane Ian NearsBiden said that the hurricane “provides no excuse for price increases at the pump” and if it happens, he will ask federal officials to determine ”whether price gauging is going on.” The oil companies response to Biden POTUS ALL TALK, NO ACTION!!! Says the man who takes showers with his teenage daughter 🤢
Source: NBCDFW - 🏆 288. / 63 Read more »