CRISES BY DESIGN: How Dems Helped Spike Gas Prices.
Despite reassurances from the White House that it is doing nothing to discourage oil companies from opening new drill sites, President Joe Biden’s allies in Congress just months ago pressured oil executives to decrease outputs because of climate change, raising questions about the Democratic Party’s strategy to lower prices for consumers.
In late October, for example, the House Oversight and Reform Committee called in the CEOs of Exxon, BP, Shell, and Chevron to explain what steps they are taking to produce less oil and gas, with Rep. Hank Johnson (D., Ga*.) alleging that “the world can’t wait” any longer. At the time, gas prices were hovering around a 10-year high.
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The average price for gasoline at the end of Biden’s first week of office was $2.39 a gallon. Prices have now hit above $4. Although defenders of the president say the rising prices are forces outside the administration’s control, as well as Russian president Vladimir Putin’s invasion of Ukraine, Republicans say Biden’s decision to cancel the Keystone XL pipeline and institute a moratorium on new gas leases is responsible.
Democrats scheduled a followup hearing with oil executives for Tuesday, March 8. That hearing was subsequently canceled last-minute, with no explanation given.
* Somehow the author mispelled “Guam” here.