President Biden Remarks on Oil Companies and Pricing
“Their profits are a windfall of war,” said President Biden during White House remarks on the nation’s largest oil companies, “a windfall from the brutal conflict that’s ravaging Ukraine and hurting tens of millions of people around the globe.” As the president criticized the oil companies for their growing profits, he said the industry “has not meant its commitment to invest in America,” highlighting the $100 billion in profits from the six largest oil companies in the nation over the previous 200 days. He also raised the possibility of implementing a windfall tax on energy companies if they do not increase domestic production. close
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