Biden Advised To Tax the Hell Out Of Oil Companies When Inflation Is Unchecked

President Joe Biden used a Wednesday speech at the White House to scold fossil fuel companies for raking in huge profits at the expense of U.S. consumers, who are being gashed by high prices at the pump.

But instead of calling for a specific policy solution that would force the industry's hand, Biden asked oil companies to voluntarily stop padding their bottom lines and instead "pass the savings on to consumers."

"So far, American oil companies are using that windfall, the windfall of profits, to buy back their own stock, passing that money on to their shareholders, not to consumers," the president said. "When the cost of oil comes down, we should see the price at the gas station, at the pump, come down as well. That's how it's supposed to work. But that's not what's happening."