Biden tells Kimmel gas prices oil companies' fault: ‘Nobody’s listening to him,' economics professor says
President Biden blames oil companies for not pumping more gas and claims they profit more by buying back their own stock on ‘Jimmy Kimmel Live!’
Fox News contributor and The King’s College economics professor Brian Brenberg ripped President Biden after he blamed oil companies for high gas prices during his appearance on ABC’s "Jimmy Kimmel Live!" Wednesday.
"Oil companies, instead of everybody, says, 'Well, Biden won't let them drill.' They have 9,000 drilling sites that they already own that are there. They're not doing it," Biden told Kimmel. "You know why? Because they make more money not drilling and buying back their own stock."
"Nobody's listening to him at all on this because it's so obvious," Brenberg reacted on "Varney & Co." "All these same oil companies who apparently can't get it together now, boy, they could get it together under President Trump, couldn't they?"
The professor’s comments come as 20 states including the District of Columbia hit a minimum $5 gas price average for a gallon of regular Thursday, according to AAA.
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Brenberg provided an answer for why record-high prices are hitting Americans now: "Because we had oil and gas flowing everywhere [under Trump]. But Biden – it's not him! It's not him! It must be the oil companies and their greed, which they just discovered now."
The economist raised further signals that Americans are starting to question whether the president is concerned with his own credibility.
"Maybe the project is high gas prices, and he actually just doesn't care what happens to his credibility," Brenberg said. "That's the only way you can explain what he keeps doing with this."
The president also painted a positive picture of the current economic conditions in the U.S., despite the fact Americans are facing 40-year high inflation.
"Here's where we are," Biden said. "We have the fastest-growing economy in the world. We have 8.6 million new jobs since I got into office. Unemployment rate's down to 3.6%. We reduced the deficit last year by $320 billion. This year we're gonna reduce it by $1.7 trillion."
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Fox News' Lorraine Taylor contributed to this report.