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Biden Responds to Skyrocketing Gas Prices By Vowing to Raise Taxes on Oil Companies (VIDEO)

On Thursday, CNN Business’ Matt Egan wrote that “President Joe Biden is being attacked for $3 gasoline. But the truth is the White House isn’t to blame for high gas prices — and has few options to lower them.”

July 10, 2021

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The reasons for the seven-year high in gas prices, he claimed, were all the empty highways and planes last year during the pandemic. Gas was cheap and there was no demand to drill for it. Now, high vaccination rates mean people are back on the roads and in the skies.

“The problem is that supply is having a hard time catching up. And Biden doesn’t have a magic wand to fix that overnight,” Egan wrote.

While we can debate the truth of some or all of those statements, Egan forgets that Biden has a magic wand to make sure gas prices stay high. Several wands, actually — and he’s been waving them furiously since the first day of his administration.

He waved one the day before Egan wrote his piece.

The president was visiting Crystal Lake, Illinois, to sell his infrastructure plan in the Chicago suburbs. If you’ve seen Biden’s song-and-dance act on the infrastructure plan before, you know how he emphasizes that you won’t have to pay a single penny (sometimes it’s a single cent) for it. It’ll be corporations and fat cats and families making more than $400,000 footing the bill.

“By the way, the plan for infrastructure is paid for — it’s paid for,” Biden said. “And this plan that I’m talking about, which is really expensive if you add it all up — well, guess what? The fact is that it’s paid for as well.”

How so? Well, “the last couple years, for example, 55 of the Fortune 500 companies making billions of dollars did not pay a single penny in taxes. Not one single cent.”

That’s gonna change with ol’ Uncle Joe around.

“If we end tax breaks for fossil fuels and make polluters pay to clean up the messes they’ve made, that would raise $90 billion. I’m not asking them to do anything that is unfair, just not going to subsidize them anymore,” Biden said. “They’re doing well, thank you. And the messes they made, they should clean up.”

It’s not clear where exactly he’s getting this, as the $90 billion number hasn’t come up regularly. However, the Daily Caller’s Michael Ginsberg wrote that “Biden appeared to be referencing a series of provisions in his $6 billion budget proposal for 2022.

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