When authoritarian-run economies inevitably fail, the leaders of those economies inevitably blame three ‘enemies,’ the companies, saboteurs, and foreign enemies. The Biden administration set in motion a series of unfortunate events that have caused Americans’ gas prices to spike, doubling in price in some regions since Biden became our first ever Mass Mailer President.
In response, the Biden administration is choosing option one in blaming others for your own authoritarian failues, he’s blaming the oil companies, accusing them of intentionally spiking gas prices. He’s even written a letter to the FTC asking them to investigate these oil companies over price control charges. The problem is, the FTC just completed that investigation and found no proof to back up the desperat blame deflection claims of this mass mailer regime.
President Joe Biden is accusing oil companies of price fixing as Americans across the country struggle with soaring gas prices.
In a Wednesday letter to the Federal Trade Commission, Biden directed the agency to investigate “mounting evidence of anti-consumer behavior by oil and gas companies.” Even though the FTC several months ago increased regulatory oversight of the oil and gas sector—which has yet to result in any lawsuits—Biden is demanding further investigations into whether “illegal conduct is costing families at the pump.”
“The two largest oil companies in the United States, as measured by market capitalization, are on track to nearly double their net income over 2019—the last full year before the pandemic,” Biden’s letter reads. “They have announced plans to engage in billions of dollars of stock buybacks and dividends this year or next.”