Biden hits oil and gas companies: 'Bring down prices you’re charging at the pump'

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Biden once again took aim at oil and gas companies on Monday, accusing them of squeezing consumers with high gas prices despite a drop in the price of oil.

Lipow Oil Associates president Andy Lipow provides his outlook on the oil market, telling 'The Claman Countdown' he expects gas to drop to $3.50 per gallon by October.touted the worldwide drop in oil prices on Monday but urged energy companies to lower the price at the pump for consumers.

"We haven’t seen the lower prices reflected at the pump though. Meanwhile, oil and gas companies are still making record profits, billions of dollars in profits," Biden said at a meeting with the White House Competition Council. : Bring down prices you’re charging at the pump to reflect the price you’re paying for the product. Do it now."

WTI Crude, the U.S. benchmark, was sitting at about $76.52 a barrel on Monday after steadily falling over the last three months from its high of $122.10 on June 7. Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board , gasoline, diesel fuel, and other petroleum products.

Gas prices have also steadily dropped over the past three months, with the average gallon of gas at $3.725 a gallon on Monday, according to AAA, down from a high for the year of $5.016 on June 14.

 

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Open up oil fields for drilling, push fracking and get pipelines built, recessionboy. joebiden racistjoe potus

Maybe 2 yrs too late...?

Blah, blah, blah. No one is listening to Biden and most, including Democrats, consider him a lame duck.

Maybe if Biden would stop spending and give inflation a chance to decrease 🤔

Is it true that he sent 1 billion barrels of our reserves to a Chinese company ? America sure could use some breaks at the pump and the grocery store.

Political idiot!

Doesn't he understand commercialism?

Where are all the free market defenders that cried when Trump tariffed China?

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