Biden Claims Gas Prices Are Caused by ‘Price Gouging’

Biden Claims Gas Prices Are Caused by 'Price Gouging'

( – In what looks like a desperate attempt to demonize oil companies and divert attention from his own policies, President Biden is blaming “price gouging” for high gas prices. Now, he’s copied a move from his old boss and set up a task force to investigate.

On November 8, Biden told a Cincinnati, Ohio, radio host he’d asked Attorney General Merrick Garland to put together a task force to look for evidence of “fraud or manipulation” pushing up gas prices. This is exactly what former President Barack Obama did in 2011, and then again in 2012. Neither of Obama’s task forces ever found anything – but then, nobody ever expected them to. And Biden’s likely won’t either.

The real reason for high gas prices is very simple – high oil prices. A year ago a barrel of West Texas Intermediate crude sold for $41.45. Today it’s $83.64. Gas prices have gone up because the cost of the oil and refining that oil to produce gasoline has doubled. It’s no great mystery.

What Biden should be doing is looking at why oil prices are so high. Is it because he canceled the Keystone XL pipeline, making it harder to bring Canadian oil to market? Is it because his administration canceled oil and gas leases, blocking new sources of production? Or is it because he’s obsessed with switching the US to green energy sources? Those are questions worth asking – but it’s unlikely Biden wants the answers.

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