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'Enough is enough': Biden wants windfall tax, other restrictions for greedy oil and gas companies [1]
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Date: 2022-10-31
"I have no problem with corporations turning a fair profit… but this isn’t remotely what’s happening," Biden said during a brief White House press conference on Monday.
President Joe Biden has once again challenged oil and gas companies making record profits but doing little to alleviate consumer concerns at the pump. During a Monday White House press conference, the president called for those companies to increase production and refining capacity. “If they don’t, they’re gonna pay a higher tax on their excess profits and face other restrictions. My team will work with Congress to look through these options that are available to us and others,” Biden promised during the brief presser, which lasted just a few minutes.
The President was joined by Energy Department Secretary Jennifer Granholm and Treasury Secretary Janet Yellen, with whom he said had discussed options to hold the likes of Shell and Exxon accountable. “It’s time for these companies to stop war profiteering, meet their responsibilities in this country, and give the American people a break and still do very well,” Biden said. “The American people are going to judge who’s standing with them and who is only looking out for their own bottom line. I know where I stand.”
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https://www.dailykos.com/stories/2022/10/31/2132626/--Enough-is-enough-Biden-wants-windfall-tax-other-restrictions-for-greedy-oil-and-gas-companies
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