President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as gas prices hover around a seven-year high.
There's "mounting evidence of anti-consumer behavior by oil and gas companies," the president said in a letter to the FTC. In August the administration called on OPEC to boost production while also asking the FTC to monitor and address any illegal conduct at the pump.US President Joe Biden speaks during an event to commemorate Veterans Day at The Tomb of the Unknown Soldier at Arlington National Cemetary in Arlington, Virginia on November 11, 2021.President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as prices at the pump hover around a seven-year high.
In a letter to Chair Lina Khan Wednesday, Biden said there's "mounting evidence of anti-consumer behavior by oil and gas companies." The letter noted that prices at the pump have remained high despite a decline in the price of unfinished gasoline. "This unexplained large gap between the price of unfished gasoline and the average price at the pump is well above the pre-pandemic average," the letter said.
The people that yell “no fossil fuel”, increase regulation and stop pipelines should be ready to pay for the reduced capital investment and reduced supply of goods that follow. Dont point fingers or look for blame..you did it!
Now that all the connected billionaires cashed out during the pandemic, including the insiders trading who are supposed FED 'governers' (does it get more corrupt and in your face?) the communists are crushing the market by imposing anything they can to kill business profitability
These people have no shame. He needs a scapegoat and oil companies are an easy target as they have few friends. If they are so manipulative and operate in a world of collusion why did they permit the monumental fall in prices in 2020?
Slicing the pipeline to jack-up gas prices was pretty anti-consumer, Brandon.