The average Democrat voter is more intelligent than you want to give credit for. We usually see the few minorities that just happen to be yelling and getting all the attention. And this isn’t just the voter base; this is also those who are in office. If you think that it’s all Joe Biden’s fault that those fuel prices are sky-high, you are mostly correct. Biden’s Energy Policies have caused prices to shoot up and cut approved oil drilling leases due to a Climate Change Lawsuit currently being overseen in the courts. Other factors do include Russia and Ukraine and the fact that the Pandemic has scorned OPEC.
However, Oil Companies are not without their faults. Any business is there to make money, but they are not purposefully rising prices. If people can’t buy, they can’t make money, but the limited supply has increased the demand, so it has to be rationed out to the highest paying people. But New Jersey Senator Frank Pallone Jr. has missed this memo. Pallone, chair of the House Energy and Commerce Committee, wants executives of BP, Chevron, Devon Energy Corp., ExxonMobil, Pioneer Natural Resources, and Royal Dutch Shell to testify at a hearing on high gas prices.
Pallone believes the companies are just trying to take advantage of Americans. They are not looking back and asking if they have done anything to cause this.
“As American families confront high gasoline prices caused by the volatility of global energy markets and Vladimir Putin’s unprovoked invasion of Ukraine, I am deeply concerned that the oil industry has not taken all actions within its power to lower domestic gasoline prices and alleviate Americans’ pain at the pump,” said Pallone “Instead, the industry appears to be taking advantage of the crisis for its own benefit.”
Even Jen Psaki is quick to blame the companies instead of looking at the whole picture. She noted that prices per barrel have dropped but not actual costs. This is generally false as most states have seen an average 10¢ drop. Not noticeable, but its a step in a better direction. [Source NJ Politics]
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Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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