AOC Wants Punishment for Big Oil Companies

AOC Wants Punishment for Big Oil Companies

( – Democrats are in a difficult political situation. In 2021, President Joe Biden escalated tensions between energy companies and his administration. He revoked the Keystone XL Pipeline and banned drilling on federal lands. In each month of his presidency since he took office in January 2021, the price of gasoline has risen steadily. However, Rep. Alexandria Ocasio-Cortez (D-NY) (AOC) sees the problem a little differently.

Ahead of the Russian invasion against Ukraine, the national average for a gallon of gasoline was $3.47. That was 97.2 cents higher than 2021. On Monday, March 14, the average gas price was $4.32 per gallon. In California, some prices approached $7 per gallon. As Democrats take heat for the exploding gasoline costs, they are blaming two foes – the Russian invasion of Ukraine and oil company price gouging. Now, AOC wants to punish big oil companies, but is there any proof of price gouging?

Democrats Blame Price Gouging Instead of Policies

On Monday, March 14, Democrats took a familiar refrain from their political playbook. Instead of understanding how supply and demand work, they chose to blame gas prices on supposedly greedy oil companies and price gouging. Never mind that President Biden and Democrats agreed that Americans would need to sacrifice to help Ukraine over the last few weeks.

So much for sacrifice. Instead, Democrats will do all they can to protect themselves politically. So, here we go again. AOC said gas price spikes are the result of oil companies profiteering and that they should be held accountable for it. She wasn’t alone. Sen. Sheldon Whitehead (D-RI) introduced a bill to supposedly stop oil companies from making profits. Sens. Jeff Merkely (D-MA), Elizabeth Warren (D-MA), and Bernie Sanders (I-VT) co-sponsored the legislation. Rep. Ro Khanna (D-CA) introduced a similar bill in the House.

Is There Price Gouging or Is This Politics?

There was already pressure from attorneys general to investigate oil companies from price gouging in Democratic-led states. For Democrats to suggest there is no accountability is an inaccurate perspective. They are under intense scrutiny and observation, making it even less likely that oil companies are taking advantage of consumers.

On Wednesday, March 16, the White House said that oil prices decreased and questioned why gasoline prices weren’t following. Either the Biden administration’s economists and energy experts are no such thing, or they’re purposely misleading America.

Here’s why…

Oil and gas prices don’t rise and fall at the same time. Over the last few weeks, gas retailers purchased the gas for resale when prices were high. For them to decrease their prices would mean a financial loss. There is a lag time between oil prices, retail purchase price, and the movement of supplies to consumers. Energy experts say that lag time is two to three days or longer. This is how energy suppliers can forecast gas prices.

So, are Democrats digging a bigger hole for themselves? Perhaps they’ve accepted their fate in November and have nothing to lose. Either way, Senate Majority Leader Chuck Schumer (D-NY) plans to call oil executives to Capitol Hill and quiz them on price gouging. It could be an interesting show if company leaders come prepared with the facts.

Stay tuned. This story is just heating up.

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