{"id":1023328,"date":"2021-11-17T12:14:40","date_gmt":"2021-11-17T17:14:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1023328"},"modified":"2021-11-17T12:14:44","modified_gmt":"2021-11-17T17:14:44","slug":"breaking-biden-attacks-oil-companies-over-gas-prices-demands-investigation-api-fires-back-hard-its-your-ill-advised-decisions","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-biden-attacks-oil-companies-over-gas-prices-demands-investigation-api-fires-back-hard-its-your-ill-advised-decisions\/","title":{"rendered":"BREAKING: Biden Attacks Oil Companies Over Gas Prices, Demands Investigation. API Fires Back Hard: It\u2019s Your Ill-Advised Decisions"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbreaking-biden-attacks-oil-companies-over-gas-prices-demands-investigation-api-fires-back-hard-its-your-ill-advised-decisions%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1023328&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>On Wednesday, President Biden, in yet another effort to place the blame for inflated prices anywhere but on his own shoulders, called for the Federal Trade Commission to investigate major oil and gas companies over rising gas prices, sending a letter to the head of the Federal Trade Commission to call her attention to \u201cmounting evidence of anti-consumer behavior by oil and gas companies.\u201d<\/p>\n<p>That triggered the American Petroleum Institute to fire back ands place the blame back on Biden, writing,\u201dThis is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation. \u2026 Rather than launching investigations on markets that are regulated and closely monitored on a daily basis or pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American-made oil and natural gas.\u201d<\/p>\n<p>In his letter, Biden stated, \u201c[Gasoline] prices at the pump remain high, even though oil and gas companies\u2019 costs are declining.\u201d He continued, \u201cThe Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.\u201d<\/p>\n<p>Biden asserted that the FTC has already \u201cdirected the Commission staff to strengthen oversight of mergers in the oil and gas sector that result in less consumer choice and potentially higher prices.\u201d<\/p>\n<p>As if once were not enough, he reiterated, \u201c[Prices] at the pump have continued to rise, even as refined fuel costs go down and industry profits go up.\u201d<\/p>\n<p>He claimed there was \u201ca large gap between the price of unfinished gasoline and the average price at the pump,\u201d adding, \u201cmeanwhile, the largest oil and gas companies in America are generating significant profits off higher energy prices.\u201d<\/p>\n<p>He pontificated, \u201cI do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct. I therefore ask that the Commission further examine what is happening with oil and gas markets, and that you bring all of the Commission\u2019s tools to bear if you uncover any wrongdoing.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">Pres. Biden, saying there is \u201cmounting evidence of anti-consumer behavior by oil and gas companies,\u201d in letter to the FTC: \u201cThe Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.\u201d <a href=\"https:\/\/t.co\/0SCa26hiqG\">pic.twitter.com\/0SCa26hiqG<\/a><\/p>\n<p>\u2014 Phil Mattingly (@Phil_Mattingly) <a href=\"https:\/\/twitter.com\/Phil_Mattingly\/status\/1460992592536088584?ref_src=twsrc%5Etfw\">November 17, 2021<\/a><\/p>\n<p>The American Petroleum Institute responded:<\/p>\n<p><em>This is a distraction from the fundamental market shift that is taking place<\/p>\n<p><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, President Biden, in yet another effort to place the blame for inflated prices anywhere but on his own shoulders, called for the Federal Trade Commission to investigate major oil and gas companies over rising gas prices, sending a letter to the head of the Federal Trade Commission to call her attention to \u201cmounting evidence of anti-consumer behavior by oil and gas companies.\u201dThat triggered the American Petroleum Institute to fire back ands place the blame back on Biden, writing,\u201dThis is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation. \u2026 Rather than launching investigations on markets that are regulated and closely monitored on a daily basis or pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American-made oil and natural gas.\u201dIn his letter, Biden stated, \u201c[Gasoline] prices at the pump remain high, even though oil and gas companies\u2019 costs are declining.\u201d He continued, \u201cThe Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.\u201dBiden asserted that the FTC has already \u201cdirected the Commission staff to strengthen oversight of mergers in the oil and gas sector that result in less consumer choice and potentially higher prices.\u201dAs if once were not enough, he reiterated, \u201c[Prices] at the pump have continued to rise, even as refined fuel costs go down and industry profits go up.\u201dHe claimed there was \u201ca large gap between the price of unfinished gasoline and the average price at the pump,\u201d adding, \u201cmeanwhile, the largest oil and gas companies in America are generating significant profits off higher energy prices.\u201dHe pontificated, \u201cI do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct. I therefore ask that the Commission further examine what is happening with oil and gas markets, and that you bring all of the Commission\u2019s tools to bear if you uncover any wrongdoing.\u201dPres. Biden, saying there is \u201cmounting evidence of anti-consumer behavior by oil and gas companies,\u201d in letter to the FTC: \u201cThe Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.\u201d pic.twitter.com\/0SCa26hiqG\u2014 Phil Mattingly (@Phil_Mattingly) November 17, 2021The American Petroleum Institute responded:This is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation. Demand has returned as the economy comes back and is outpacing supply. Further impacting the imbalance is the continued decision from the administration to restrict access to America\u2019s energy supply and cancel important infrastructure projects. Rather than launching investigations on markets that are regulated and closely monitored on a daily basis or pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American-made oil and natural gas.https:\/\/t.co\/CVA6pEfkoy pic.twitter.com\/29Cke0COE3\u2014 American Petroleum Institute (@APIenergy) November 17, 2021The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.\u00a0<\/p>\n","protected":false},"author":60,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1023328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1023328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1023328"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1023328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1023328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1023328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1023328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}