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Biden FTC Accuses Big Oil of Slowing Production to Raise Prices – Which Biden Does Every Day

We find this story a mixture of infuriating and comical.

The FTC accused Pioneer Resources founder Scott Sheffield of collaborating with OPEC to cut production to keep prices high. We have no idea whether Sheffield is guilty or not.

But wait! Colluding to keep oil prices high is exactly what Biden has done every day he’s been in the White House. On day one, Biden canceled the Keystone XL pipeline and banned leasing on federal lands and waters.

Biden’s war on American energy has raised oil prices and enriched Russia, Iran, and the rest of OPEC. Remember: there was no OPEC cartel pricing power under Trump because of his “drill baby drill” policy, that lowered prices to around $2 a gallon.

Let us keep it simple: in modern times there has been no better friend to OPEC than Joe Biden.

As “evidence” that the oil industry is colluding, consumer groups point to this chart that shows since Biden has come into office, investment in drilling has gone way down.

Gee, let’s put our thinking caps on: why would oil and gas producers be reluctant to invest?

If you said it is because they are evil price-fixers, sorry, but you’re reading the wrong newsletter.

The right answer is that Biden wants to put every oil and gas company out of business with his absurd “net zero” carbon dioxide emissions target.

Does anyone want to invest in a product that the government is going to outlaw?

If restricting output and driving up prices is a crime, then Joe Biden, Jennifer Granholm, and John Kerry should be the first to go to jail.

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