Fox News contributor and The King’s College business and economics professor Brian Brenberg called out House Democrats pinning the blame on oil executives for high gas prices on “Fox & Friends First” Thursday, saying the political “theater” attempts to distract voters from the real cause .
“This same group of people sat in those same chairs six months ago and said, ‘You all should be ashamed of yourselves for producing so much oil.’ Now, they bring it back and say, ‘No, you’re so bad for not producing enough oil,'” Brenberg noted.
“This is not economics. It’s not policy. It is looking for villains because they don’t like the fact that their president’s in the hot seat,” the professor continued.
Democrats grilled US oil executives in a congressional hearing on Wednesday, asking companies like Chevron, Exxon Mobil and BP why they’re “ripping off” Americans with high gas prices and price gouging.
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“We do not control the market price of crude oil or natural gas, nor of refined products like gasoline and diesel fuel, and we have no tolerance for price gouging,” Chevron CEO Mike Wirth responded.
“I think the government has a role in encouraging investment and creating a positive investment climate,” Exxon Mobil Corp. CEO Darren Woods also said in the hearing.
Instead of bringing the execs to DC, Brenberg argued more of lawmakers’ questions could be answered if they visited federal oilfields.
“But they don’t want to solve the problem. They’re not solution seekers. They are villains seekers,” Brenberg reiterated. “We’re paying a heavy price right now for Congress to do absolutely nothing about the underlying problem.”
While President Biden and his party struggled to work with Big Oil to find a way to increase production together, the business and economics professor warned they’ll continue to deflect blame for market disruptions and economic repercussions.
“We all know that there’s a disruption happening,” Brenberg pointed out. “Democrats know they don’t have a solution for what’s going on, and instead of trying to find at least some way to help, and again, that’s energy markets, they’re trying to find the person they can blame.”
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Brenberg expects inflated gas prices to drive through the end of this year.
“They’ve got to find a way to make it better,” Brenberg stressed. “They’re not doing that, which means it’s going to get worse in a big way, potentially.”
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