Accountability
President Biden urges federal regulators to investigate ‘illegal content’ in high gas prices
President Joe Biden pressed the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets.
In a letter to Wednesday to FTC Chair Lina Khan, the president expressed concern about the difference between pump prices and the cost of wholesale fuel, while citing what he said was “mounting evidence of anti-consumer behavior by oil and gas companies.”
“The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining,” Biden said in the letter. “The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.” He added, “I do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct.”
The national average price for a gallon of regular gasoline is $3.41. That is $1.29 more than a year ago, according to the American Automobile Association, and a seven-year high. Although the national average dropped a penny last week, gas prices in California broke a new record Tuesday with an average price tag of $4.687 for a gallon of regular.
FTC spokesman Peter Kaplan told AFP, “The FTC is concerned about this issue, and we are looking into it.” In response to a previous request over the summer from Biden to examine gas prices, FTC Chair Lina Khan pledged to investigate any collusion that might be fueling the inflation, as well as take a closer look at mergers in the industry that reduce competition.
Terry A. Hurlbut has been a student of politics, philosophy, and science for more than 35 years. He is a graduate of Yale College and has served as a physician-level laboratory administrator in a 250-bed community hospital. He also is a serious student of the Bible, is conversant in its two primary original languages, and has followed the creation-science movement closely since 1993.
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If Mr Biden had not interfered with the supplies and delivery mechanism the prices would still be low. It is “Environmentalist” and “Left” who are creating the disaster we are seeing. Consider in Southern Australia a couple of years ago they had rolling black-outs because the “Environmentalist” had managed to replace the reliable energy production systems with solar and wind generation. Then the clouds blocked the sun and wind disappeared for more than 6 months (might have been a year or more).