Biden Blames Who For Inflation?

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

Has Biden lost his mind?

One of President Biden’s top economic advisers was asked on Friday about Biden’s campaign pledge to fight against the American oil industry as the President Is now requesting that they increase production and self-reduce their “exorbitant profits.”

During a brief, Biden said that if “you just base it on what a barrel of oil costs then actually it should not be this high … they’re making exorbitant profits.”

“They could drill, but they’re not doing it,” he added. “I think we’re going to be in a position where –” he began to conclude before first lady Jill Biden appeared, and he turned away.

Jared Bernstein, Biden’s economic adviser who appeared on Fox News’ “The Story” on Friday said that Biden has reached out to oil corporations and that “He is fighting for the middle class at the pump and that’s exactly what he should.”

Still, he was later asked about a previous exchange Biden had with a woman in New Castle, N.H., where he had said, “Kiddo, I want you to just take a look at my eyes – I guarantee you we’re going to end fossil fuels and I’m not going to cooperate…”

In a debate, Biden had also pledged to end all oil industry subsidies and drilling on federal lands or offshore areas noting there is “…no ability for the oil industry to continue to drill, period.”

On the first day of the Biden administration, he also blocked the Keystone XL pipeline. 

“The policies that have led to that — We have not built a new refinery in this country since 1970. It goes back a long way on the war against this industry – So now the president is saying do more, refine more, get more product to the market,” Martha MacCallum, the Fox News Host, said.

Bernstein replied that Biden is looking at the future of American energy, while also negotiating with energy executives. “I think when it comes to policy, we’ve got to walk and chew gum at the same time. We have to make sure that these companies have the support they need right now,” Bernstein said. “And frankly, the fact that they’re pumping more than they ever had before and they have so many leases available to them, suggests that they have the ability to pump more.”