Oil billionaire schools Biden on gas prices: ‘It’s all about economics 101’

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Crude oil and natural gas prices are climbing

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Continental Resources president and founder Harold Haim criticized Biden’s energy plan as the administration’s efforts to tackle climate change posing more challenges for the country.

“You know it’s all about Economics 101 and it doesn’t have to be this way,” the oil billionaire said during an interview on Granthshala Business on “Morning with Maria.”

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Last year, Haim warned that the price of gasoline would rise under the Biden administration.

“We predicted that the Biden platform on energy limited supply would have consequences – and it certainly is,” Haim told Maria Bartiromo on Tuesday.

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“We’re seeing an increase in both crude oil and natural gas prices. You know, if you stop supply and demand comes back to what it has, you’re going to see higher prices and so on. Happens,” he explained.

The average price per gallon for regular unleaded gas in the US is about $3.38, which is about 4 cents more than a week ago and 20 cents more than a month ago. AAA.

Biden predicts gas prices won’t drop until 2022

Biden banned new permits for drilling on federal land for a year after taking office in January. the decision eventually ended Keystone XL Pipeline, catalysts for materials available to the oil industry and we energy independence.

“When you have federal permit restrictions on federal land that affects jobs, that affects everything we do. I mean, we’re talking about 26% of the land and you’re going to have a huge offshore Gulf of Mexico Talking about,” said the Continental Resources founder.

KEYSTONE XL Pipeline Owner Seeks $15B in Damages After Decision to Block Permits

Biden’s critics have accused him of making America dependent on his opponents for oil and destroying thousands of American jobs.

“Administration basically we have [oil industry] the condemned. I mean, you can’t talk to them [Biden administration]. So they act like we don’t exist,” Haim said.

“They want more oil. They’re going to call Saudi Arab. they are going to call putin in Russia. And that’s what they’re doing for both oil and gas,” he explained to the “Morning With Maria” host.

The president’s green plans for America have hit the energy sector. Oil giant Exxon Mobil recently discussed abandoning large oil and gas projects, a costly endeavor according to Haim.

“You know, you keep giving all this money to electric cars and wind and solar and all the renewable energy that doesn’t work,” Haim argued.

“How much money do you want to give to Elon Musk?” He asked.

Granthshala Business’ Daniela Genovese and Jonathan Garber contributed to this report.


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