BIDEN TO INVESTIGATE COMPANIES FOR PRICE GOUGING IN THE WAKE OF HURRICANE IAN
W hile speaking at the White House Conference on Hunger, Nutrition, and Health, President Biden warned oil and gas executives about doing gas hikes during Hurricane Ian. If they do raise the prices of gas he threatened to order investigations into their actions. BIDEN: “Do not, let me repeat, do not, do not use this as an excuse to raise gasoline prices or gouge the America people. Price of oil has stayed relatively low, it kept going down. The price of gas should be going down as well. My experts inform me the production of only about a hundred ninety thousand barrels a day as have been impacted by the storm thus far. That's less than 2% of the United States daily production impacted for a very short period of time. This small temporary storm impact on oil production provides no excuse, no excuse for price increases at the pump. None. If gas companies try to use this storm to raise prices at the pump, I will ask officials to look into whether price g...