Biden calls on FTC to investigate ‘anti-consumer behavior’ in energy sector

Since his inauguration, President Joe Biden has pursued a consistent path toward constraining and reducing domestic energy production.

Instead of accepting responsibility for the potential impact of those policies on soaring energy costs, however, Biden is now accusing oil and gas companies of engaging in “anti-consumer behavior” by keeping prices artificially high.

“I believe you should do so immediately”

According to Breitbart, the White House has called on the Federal Trade Commission to launch a probe into the matter.

The president made his intentions clear in a letter sent on Wednesday to FTC Chair Lina Khan.

“The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining,” Biden asserted. “The [FTC] has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.”

He referenced prior communications on the topic between the FTC and the White House, noting that some action had already been taken while lamenting that gas prices continued to rise amid lower costs for refined fuel.

The president proceeded to levy various claims against others in an apparent effort to absolve his own administration of any responsibility.

“A distraction from the fundamental market shift”

“I do not accept hardworking Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct,” Biden concluded. “I therefore ask that the Commission further examine what is happening with oil and gas markets, and that you bring back all of the Commission’s tools to bear if you uncover any wrongdoing.”

The American Petroleum Institute issued a statement of its own to counter the president’s narrative.

“This is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation,” declared API Senior Vice President of Policy, Economics, and Regulatory Affairs Frank Macchiarola.

He argued that demand is “outpacing supply,” blaming the White House’s efforts to limit or shut down the delivery and refinement of domestic oil and gas.

Instead of launching investigations against private companies or begging foreign nations to increase their energy production, Macchiarola argued that Biden should be “encouraging the safe and responsible development of American-made oil and natural gas.”

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