Joe Biden is on a rampage.
First, Biden worked to create one of the worst inflation crises in America’s history.
And now, Biden just threatened to double down by hiking gas prices with one shocking move.
At a time when inflation is at a generational high, Joe Biden apparently does not think that Americans are paying more at the pump for their gas.
This, despite the fact that gas prices in large parts of the country are more than a dollar higher than what they were in January 2021 when Donald Trump left office.
In fact, with the national gas price average standing at over 60% higher than when Biden first took office, America is reeling from an energy crisis that is almost entirely Biden’s own making.
But despite shockingly high gas prices and generationally high inflation over 8%, Biden is now working to make it even more expensive for America’s energy industry.
And now, he just unveiled one shocking plan that would almost certainly drive up the price of gas to a new all-time high.
The Hill reports, “President Biden on Monday warned that oil companies would face a ‘higher tax’ on their excess profits if they don’t reinvest in increasing production to bring down prices at the pump.”
“They have a responsibility to act in the interest of their consumers, their community and their country, to invest in America by increasing production and refining capacity,” Biden said when he outlined his new gas tax. “If they don’t, they’re going to pay a higher tax on their excess profits and face other restrictions.”
Biden wants to blame energy companies for higher gas prices, but the fact is that he is the one responsible for driving up prices at the pump.
Not only has he embarked on a radical anti-energy platform by working to oppose new drilling, pipelines, and production facilities, but he’s worked to tax the energy industry even more with his so-called “Inflation Reduction Act.”
This, combined with Biden’s reckless spending, has driven inflation to a near record high, and as a result, gas prices have spiked alongside inflation.
But now, Biden wants to divert the public’s attention away from his own failed policies and instead point the finger at energy companies that are already having to comply with his administration’s rules that discourage more energy production.
“Increasing taxes on American energy discourages investment in new production, which is the exact opposite of what is needed. American families and businesses are looking to lawmakers for solutions, not campaign rhetoric,” said the American Petroleum Institute in a statement slamming Biden’s promise for more tax hikes.
But that won’t stop Biden, who is busy trying to again pander to climate change radicals who want to shut down even more drilling and energy production in the US.
In fact, after Biden announced his plan, the Sunrise Movement, a radical left-wing anti-energy group that routinely calls for policies that would leave America energy-poor, cheered on Biden’s rhetoric saying, “We’re thrilled to hear President Biden’s support for a Windfall Profits Tax to hold oil and gas companies accountable. This is what Democrats should have been championing all year.”
But with the midterm elections just days away, there’s a chance Biden will never get a chance to enact his agenda should Democrats lose control over Congress.