Democrats want oil prices to be higher because they think it will make their energy alternatives more viable, Steve Forbes said on Sunday.
Speaking on “The Cats Roundtable” radio show on WABC 770 AM hosted by John Catsimatidis, the economist, publisher and former presidential candidate said that the Biden Administration does not take actions to significantly lower oil prices, as “they secretly want high oil and gas prices… because they think that will make their energy alternatives — so-called renewables — i.e. wind power… and solar — more viable.”
He lamented that these higher energy prices mean “a higher cost and a lower standard of living” for the American people.
Forbes said it is “so utterly contradictory” that the Biden Administration wants “oil producers to keep the prices low, but they don’t want [them] to produce the oil and gas and [to] refine it,” adding that “I’ve never understood why a barrel of oil from Russia or OPEC is somehow better than a barrel of oil from American soil.”
He also warned about inflation, saying that “we’re going to get some price increases. And the danger is that this could slow the economy next year at a time when we still haven’t fully recovered from these Covid shut downs.”
When asked why the Biden administration is going after several industries for alleged price gouging, Forbes said said this is a typical response for governments when they make mistakes “by debasing the currency and creating higher prices…. This gives them an excuse to say, see we need to have more control over these industries,” adding that “they create the problem and then use the problem as an excuse to increase their power at the expense of the rest of us.”
He said another example of Democrats seeking political control is their desire to subsidize electric charging stations, meaning the American tax payer is funding it, pointing out that “gasoline stations were not subsidized, because there was a natural market for it, so entrepreneurs came in and did it.”
He emphasized that decisions such as whether to buy a regular or electric car should be left to people to “make the choice. Not government bureaucrats and far left ideologues.”