Biden admin 'owns' high gas, oil prices: Sen. Cassidy
Republican rips Biden administration's energy policies as gas prices remain near record highs
Sen. Bill Cassidy, R-La., joined "Cavuto: Coast to Coast" Friday to discuss a report claiming President Biden allowed oil from U.S. strategic reserves to be sold overseas, arguing the administration "owns the high price of oil in gas" in the country as Americans face a surge in costs.
SEN. BILL CASSIDY: The optics are troublesome. Now, what I've learned is that the companies buy it [oil] and then the companies ship it overseas. And what I've been told is that our refining capacity is at 95%, so that there's a limited amount of refining capacity here. So they ship it overseas. Now, that's their side of the story.
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I want to know a little bit more. But as regards the refining capacity, the Energy Information Agency actually confirms that. On the other hand, part of the refining capacity being down is because of the regulatory environment and companies just throwing in the towel on certain refining plants. So this administration just basically owns the high price of oil and gas in the United States.
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