The Truth About Oil and Biden’s Speech

Joe Biden’s press conference on Russia and oil prices was full of half-truths and misdirection. Biden first warned oil companies about “padding profits” and taking advantage of people while the price of oil is high. Clearly, Biden has no grasp of the futures market that dictates oil prices. Next, he claimed the policies from his administration are not holding back domestic energy production but conveniently forgot the offshore drilling leases his administration canceled. The punchline to the speech was Biden using the backdrop of high oil prices to push electric vehicles on people. In case you didn’t know, the average electric vehicle costs about $56K. Here’s more: