And for our latest edition of the “you can’t make this sh%$ up:”
The Biden White House is now launching an antitrust lawsuit against oil companies, arguing that domestic producers have colluded to keep gas prices high.
Biden has a national policy objective of reducing oil and gas output in America to zero by 2030, and has reduced oil production by about 2 million barrels a day from the Trump high-water mark. When Biden’s nominee to be Comptroller of the Currency XXX, who has openly advocated bankrupting oil, gas and coal companies, was asked in her Senate confirmation hearing last week if she thought high gas prices are a good thing, she replied: “That’s a complicated question. “COMPLICATED?”
One of our CTUP friends and heroes, Harold Hamm, the CEO of Continental Energy and one of the pioneers of the shale oil revolution, alerted us to this devastating rebuttal from the Domestic Energy Alliance:
“The Biden administration need look no further than their own actions to find the primary reason energy prices have escalated since he took office. Within the first week of office, Biden issued an Executive Order halting all U.S. drilling permits and federal leasing. He added further injury to the American oil and gas industry through a batch of punitive, unnecessary and burdensome regulations on oil and gas operations. These actions have severely hampered American oil and gas companies’ ability to adequately supply the market and has put American Energy Independence at risk.
The market supply deficit which has been artificially created by the Biden administration can quickly be erased by simply reversing these punitive oil and gas policies.”
We rest our case.
Harold Hamm, Pioneer of Shale Oil Drilling: