Must See: Biden Mocks Big Oil In Cringe-Worthy Speech

By Rachel Morris | Thursday, 23 June 2022 14:10
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President Joe Biden on Wednesday denounced oil CEOs who complained about his criticism, stating he didn't know they'd get their feelings so hurt as he hinted he was open to a federal gas tax.

Biden was questioned regarding Chevron Chief Executive Michael Wirth, who wrote to Biden to announce his administration was "vilifying" the gas industry.

"He's mildly sensitive," Biden quipped. "I didn't know they'd get their feelings hurt that quickly."

Earlier this month, Biden denounced oil companies for making record profits and pressed them to increase oil production to alleviate gasoline prices.

"Your administration has largely sought to criticize, and at times vilify, our industry," Wirth announced in response in a letter sent to President Biden. "These actions are not beneficial to meeting the challenges we face."

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The administration has been considering different possibilities to give Americans relief at the pump, where the national average for a gallon of gas has hit more than $5.

Biden announced he'd have a final issue on suspending the gas tax by the end of the week, though he appeared to indicate he was thinking about it.

He announced on Tuesday a possible suspension of the federal gas tax would have some, yet not significant, impact on highway funds.

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"It will have some impact but it's not going to impact major road construction and major repair," he said.

And when questioned if that meant he had made a choice, Biden repeated his earlier allegation he would decide by the end of the week on whether to ask Congress to suspend the tax to help with high gas prices.

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The revenue from the gas tax is practiced to help fund highway and other transportation projects.

He announced the federal government has plenty of funds to pay for his infrastructure plan even if the gas tax was suspended.

"We have plenty of capacity to do that," he stated.

Biden, on Monday, further proposed there was a possibility of sending out gas rebate cards, similar to those proposed in states like California.

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And he announced his staff would be meeting with oil CEOs to discuss the country's high gas prices.

"My team is going to be sitting down with the CEOs of major oil companies this week and deciding to get an explanation on how they justify making 35 billion dollars in the first quarter," Biden announced.

And he took a swat at former President Donald Trump's tax reform bill, which lowered corporate tax rates - something Biden stated the U.S. could look at again as it fights 41-year high inflation.

"Going out and buying a yacht doesn't help the economy a whole lot," the president stated.

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