Democrats keep working against oil companies, ‘not with us’: Big Oil CEO
Canary CEO Dan Eberhart ripped Dems' accusations that oil companies are price-gouging gas prices
Washington working against Big Oil, 'not with us': Canary CEO
Canary CEO Dan Eberhart details different ways to bring more oil to the U.S. market.
As Democrats continue to blame oil executives for record-high gas prices through price-gouging, one CEO is calling them out on their bluff.
"Washington keeps working against us, not with us in terms of increasing supply," Canary CEO Dan Eberhart told FOX Business’ Ashley Webster on "Varney & Co." Thursday.
"We've got a good economy. Demand is strong," Eberhart continued. "We need more supply to bring the price down, and the administration just keeps putting roadblocks in our way to do that."
Both futures for oil benchmarks Brent and U.S. West Texas Intermediate finished Wednesday at 4% higher, with the spike in prices coming as worries of more disruptions to global supply continue to rattle the market, according to Reuters.
OIL MOVES LOWER THURSDAY, TRADES AROUND $103 PER BARREL
But Democrats insist surging oil prices are due to price-gouging by Big Oil themselves, calling producers like Chevron, BP and Exxon Mobil to testify on the issue in front of a House committee earlier this month.
General view of the Imperial Oil refinery, located near Enbridge's Line 5 pipeline in Michigan. (Reuters)
"I don't think that's true at all," Eberhart countered. "We're bidding for work against our competitors and other companies… We've got all kinds of supply chain issues, and inflation in our supply chain as well."
Eberhart argued President Biden’s outsourcing for natural gas should be reversed, as well as other energy policies, to fix the critical shortage.
"The problem is not enough supply, and the administration keeps doing things around that," the CEO scolded, "not working with the industry to increase supply."
"The SEC compliance issue on climate disclosure is an additional regulatory burden; moratorium on drilling on federal lands is an additional burden," Eberhart listed, "canceling the pipelines Keystone, Dakota Access and there's six others, it's a regulatory burden."
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If Biden doesn’t give the green light for the expansion of U.S. oil production, Eberhart warned high gas prices will stick around – and Americans will react at the polls.
"The Biden administration has sat on, through the Federal Energy Regulatory Commission, six LNG export terminals, which could help us send natural gas to Europe instead of them buying Russian gas," the CEO stressed.
"I think the decisions are dumb," he added, "and don't take my word for it. Ask voters in November. I think we're going to see the answer."
FOX Business' Ken Martin contributed to this report.