{"id":60499,"date":"2021-11-17T11:06:12","date_gmt":"2021-11-17T16:06:12","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60499"},"modified":"2021-11-17T11:06:12","modified_gmt":"2021-11-17T16:06:12","slug":"in-response-to-soaring-gas-prices-biden-orders-ftc-to-immediately-probe-illegal-conduct-by-oil-gas-companies","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60499","title":{"rendered":"In Response To Soaring Gas Prices, Biden Orders FTC To &#8220;Immediately&#8221; Probe &#8220;Illegal Conduct&#8221; By Oil &#038; Gas Companies"},"content":{"rendered":"<header class=\"ArticleFull_header__11o5_\">\n<h3 class=\"ArticleFull_title__2cUI6\"><a href=\"https:\/\/www.zerohedge.com\/energy\/response-soaring-gas-prices-biden-orders-ftc-immediately-probe-illegal-conduct-oil-gas\">In Response To Soaring Gas Prices, Biden Orders FTC To &#8220;Immediately&#8221; Probe &#8220;Illegal Conduct&#8221; By Oil &amp; Gas Companies<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__38L44\">\n<div class=\"NodeContent_body__2clki NodeBody_container__1M6aJ\">\n<p>Commenting on perhaps the most absurd moment of the Xi-Biden virtual summit, which as we learned last last night, was the US president\u00a0<strong>begging China to release oil from its strategic petroleum reserve\u00a0<\/strong>(ostensibly because due to opposition by Democrats in the US such as\u00a0<a href=\"https:\/\/www.reuters.com\/business\/energy\/us-houses-hoyer-doesnt-agree-with-schumers-call-tap-oil-reserve-lower-gas-prices-2021-11-16\/\">top House Democrat Steny Hoyer<\/a>, Biden can&#8217;t do that), Rabobank&#8217;s Michael Every said that it was &#8220;an odd power dynamic when one is a massive energy exporter, and the other a massive energy importer.&#8221;<\/p>\n<p>Alas, it does not appear that China will rush to comply with Biden&#8217;s demands, and with gasoline soaring and becoming a major political headache for the Democrats ahead of the midterms&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/unnamed%20-%202021-11-17T102016.514.jpg?itok=VcRlrvjz\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/unnamed%20-%202021-11-17T102016.514.jpg?itok=VcRlrvjz\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/unnamed%20-%202021-11-17T102016.514.jpg?itok=VcRlrvjz\" alt=\"\" width=\"500\" height=\"318\" data-entity-type=\"file\" data-entity-uuid=\"d974a216-690a-4517-bb5d-917b66d7652f\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<div class=\"Advert_desktop__1J5vD Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_placement__1I4yb Advert_align__N0_fw\">\n<aside id=\"in-content-video\" class=\"Advert_verticallySpaced__wnPy3\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\"><\/div>\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_1__container__\"><\/div>\n<\/aside>\n<\/div>\n<p>&#8230; Biden, or rather his handlers, are now scrambling to come up with ways to push gas prices lower.<\/p>\n<p>We got the latest lightbulb moment from the administration this morning, when moments ago Biden sent a letter to FTC Chair Lina Khan to call attention to &#8220;mounting evidence of anti-consumer behavior by oil and gas companies&#8221; alleging that he won&#8217;t accept &#8220;hard-working Americans paying more for gas because of anti-competitive or potentially illegal conduct.&#8221;<\/p>\n<p>It wasn&#8217;t clear what if any evidence was &#8220;mounting.&#8221;<\/p>\n<p>\u201cI do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct,\u201d Biden said, claiming that &#8220;gasoline prices at the pump remain high, even though oil and gas companies&#8217; costs are declining&#8221; and\u00a0<s>ordered<\/s>\u00a0asked the FTC to &#8220;consider illegal conduct&#8221; which is costing families at the pump, urging the FTC to &#8220;immediately&#8221; use &#8220;all tools&#8221; to examine price wrongdoing. No &#8220;proof&#8221; of any wrongdoing was provided either, although we are confident that\u00a0<strong>Igor Danchenko is busy creating a dossier full of &#8220;evidence&#8221; to buttress Biden&#8217;s case.<\/strong><\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In Response To Soaring Gas Prices, Biden Orders FTC To &#8220;Immediately&#8221; Probe &#8220;Illegal Conduct&#8221; By Oil &amp; Gas Companies Commenting on perhaps the most absurd moment of the Xi-Biden virtual summit, which as we learned last last night, was the US president\u00a0begging China to release oil from its strategic petroleum reserve\u00a0(ostensibly because due to opposition [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[1423,1320,827,834,14907,4318],"class_list":["post-60499","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-gasoline-price","tag-joe-biden","tag-united-states","tag-us","tag-us-white-house","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60499"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60499\/revisions"}],"predecessor-version":[{"id":60500,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60499\/revisions\/60500"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}