Nothing spurs activity in a capitalist system like promising to tax the crap out of any profits you might make. This is by design. Biden wants the higher energy prices while putting on a show of disapproval for the idiots who believe him.

Biden has been waging a battle with oil companies over the last few months, but he escalated it in November when he called on them to “act beyond their narrow self-interest,” to “invest in America by increasing production and refining capacity” on behalf of “their consumers, their community and their country.”

 

And if they don’t? Biden warns they’re going to face “a higher tax on their excess profits and … higher restrictions.”

 

The president didn’t elaborate on what those restrictions might be, but promised his administration would work with Congress to evaluate all the available options.

 

“It’s time for these companies to stop war profiteering, meet their responsibilities in this country and give the American people a break,” Biden added.