Given that Joe Biden turns 79 on Saturday, perhaps it’s no surprise he went “old school” attempting to deflect the problematic politics of rising gas prices. He’s blaming Big Oil.
President Biden on Wednesday asked the Federal Trade Commission to investigate “what is happening with oil and gas markets” and “bring all of the Commission’s tools to bear if you uncover any wrongdoing.”
In a letter to FTC Chairman Lina Khan, Biden wrote he wanted to “call your attention to mounting evidence of anti-consumer behavior by oil and gas companies. The bottom line is this: Gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining.”
The only evidence Biden cited was the existence of what he called an “unexplained large gap” between the price of “unfinished gasoline” and prices at the pump.
Specifically, Biden stated that “in the last month, the price of unfinished gasoline is down more than 5%…