Stuart Varney: Tax hikes do not produce more oil
Biden threatens oil companies with windfall tax
Stuart Varney: Tax hikes do not produce more oil
FOX Business host Stuart Varney argues Biden knows inflation and gas prices are hurting him politically.
During his latest "My Take," "Varney & Co." host Stuart Varney discusses Biden's handling of rising gas prices as he threatens oil companies with a tax penalty, arguing "tax hikes do not produce more oil."
STUART VARNEY: The president is resorting to demagoguery.
He knows that inflation and gas prices are hurting him politically.
He's behind in the polls and unpopular in his own party; he's desperate to avoid blame.
So, in an angry rant, he points the finger at big oil!
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It feels like we're in a time warp: Democrats have been venting about those wicked oil companies for decades.
Demagoguery is no substitute for good policy.
You'd think the left would have learned that lesson by now, but they haven't.
Big oil hatred is like Trump hatred for these guys: it never goes away!
FOX Business' Stuart Varney discusses Biden's tax penalty threat against big oil companies. (Fox News)
BIDEN SLAMS OIL COMPANY PROFITS, THREATENS WINDFALL TAXES AS PENALTY
Biden has issued a threat: if the oil companies don't bring down gas prices now, he'll hit 'em with a big "windfall profits" tax.
Does that remind you of President Carter's "obscene profits" tax in the 1970s?
It didn't work then, and it won't work now.
Tax hikes do not produce more oil. He knows there is a diesel and home heating oil crisis looming.
He's trying to get ahead of it with a temper tantrum.
"They're ruining my presidency and killing the planet"...punish them.
This is what passes for energy policy these days. It’s desperation, as the president and his party face a serious election defeat.
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