The Biden administration is doing all it can to deflect blame from themselves over the crises they have created.
One of their new targets are oil companies.
Now, I want to say that defending massive corporations is not the point of this article. If the Trump presidency showed us one thing it is that the vast majority of major corporations simply don’t have the best interests of the United States in mind.
The reason for this article is to expose the Biden administration’s policies that have led to everyday Americans being hurt financially.
Michael Maharrey via SchiffGold.com penned an Op-Ed showing that the corporate greed line simply doesn’t add up.
The whole corporate greed narrative doesn’t stand up to data analysis. And it doesn’t make any sense intuitively.
One simply has to reason through the claim to uncover the absurdity. If corporations can willy-nilly raise prices and enjoy “excessive” profits, again, why don’t they do it all the time? Did corporations suddenly get greedy in 2021? And why did the Federal Reserve spend a decade fretting about inflation (price increases) being “too low” as it struggled to hit its 2% target? Was there not enough corporate greed before coronavirus?
It’s pretty clear there has to be something else going on. But corporate greed is a convenient explanation, and the narrative continues to grow because the average American doesn’t understand inflation or basic corporate accounting. That includes a lot of the people writing about inflation in mainstream and left-leaning corporate media and most meme-makers on social media.
To simplify the point, using one data point, profit, is simply not enough to explain what we are seeing.
There is no one exact reason that gas prices are rising. The Biden administration declared war on Fossil Fuels and because of that has created a situation that has sent the price of gas through the roof.
Biden tied the hands of oil companies and is now shocked that gas prices have hit over $5.
Is America Really Producing More Oil Under Biden Than Trump? No, Obviously Not.
It is important to know this information for the months ahead. The Biden administration is going to blame everything but their policies for what is happening – we can’t let them do it.
They own the crises they have created they do not get to pass blame anywhere but to themselves.
The Palmieri Report is a Pro-America News Outlet. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions. Make sure to bookmark The Palmieri Report for new articles every 30 minutes!
Follow us on social media:
Follow our Rumble for daily uploads
Listen to our Daily News Podcast!