"President Joe Biden didn’t mince words as he blamed the oil industry for gasoline prices running at a seven-year high.
“Gas supply companies are paying less and making a lot more,” he said in televised remarks from the White House last week. “That’s unacceptable.”
Within minutes, the oil industry and its congressional backers pointed fingers right back at the Biden administration, blaming it for policies to reduce the nation’s reliance on fossil fuels and the president’s decision to block construction of an oil pipeline from Canada. The reality of who’s to blame for high prices -- and what could be done to lower them -- is more complicated."