Commentary
President Joe Biden appears to have no understanding of where high gas prices come from and that his policies have contributed to the problem.
“If oil companies were investing their profits in their operations at historic rates, America would produce more oil today and prices would be down even further. Rather than giving Americans a break, they are sending their excess profits back to shareholders and executives,” Biden wrote on Twitter on Nov. 3.
Biden is blaming American oil companies for the increase in gas prices that Americans see at the pumps. However, the gas stations did not just decide to raise prices collectively. The price you pay is based on how much gas costs the gas stations. This is the same as any other product you buy. So when the global price of oil goes up, the price at the pumps also goes up, and it is the consumer who feels the difference….