Biden Letter To The Federal Trade Commission

Attention. You're listening to the Todd Huff radio show America's home for conservative, not bitter talk radio. Be advised the content of this program has been documented to prevent and even cure liberalism. And listening may cause you to lean to the right. Here's your conservative, not bitter host, Todd Huff.
Have you seen this stupid, absolutely stupid letter? That Biden. Of course, you knew that already. Actually, it wasn't Biden, I'm not sure. Biden could write a letter at this particular point in time, he's probably doodling on napkins with crayons or something. But this letter that was sent by the Biden administration basically, asking for an investigation into well, they sent the letter to the FTC, federal trade commission to look into these oil companies concerning the amount of money that oil companies are making, in particular, whether or not they are conducting themselves illegally. So as to cost families, as I'm reading here from the letter. Additionally, what costs families at the pump? This is this is absolutely without question, a political diversion. And we're going to talk about this today. And I'm going to say some things that I want to say off the top I'm not defending and I'm not even remotely close position to defend any particular company. Right? I mean, the old adage the old saying that William F. Buckley, I believe is the one who came up with this. He said, The problem with socialism is socialism. The problem with capitalism is our capitalists. Right, so in other words, the ideology of socialism is the problem itself. It is built upon predicated upon a misunderstanding of human nature, it gives incentives to the wrong thing it encourages, actually, it actually encourages greed and envy. And it D incentivizes people to actually work. It teaches an idea, a belief that says I'm not first and foremost responsible for me, someone else has someone else's job. We're all collectively responsible for each other. I must say we shouldn't woven care for our fellow. Say, man, but that's considered sexist in today's world, other people. I'm not saying that's the case. But it's certainly the case that I'm responsible first for me. In fact, I've made the observation on this program many times that liberalism teaches liberalism literally teaches us today that I'm not responsible. Well, maybe I am because I'm a conservative. I'm a Christian. I'm a male. I'm whatever. repub. Well, I'm a conservative. And that's makes me Republican, I'm not really a but the point is, the identifiers will say to the world, and I am responsible, but if I'm any other class, or if I have any other identity, that the left decide suddenly should not be responsible for something I'm not responsible, but we're not individually as a rule. According to leftist responsible for anything in our own lives. Instead, we're all collectively responsible for everything this is flipped completely out of whack. It is not the way that God created us to live. God did not create us to live so that I am responsible for choices that someone else makes, I'm responsible. For me. This is so obvious when I say when I say that, there is something in your soul that immediately recognizes that truth because you've lived life. I'm responsible for me, you're responsible for you, we can certainly influence other people. We can certainly try to persuade. Sometimes there's no ability whatsoever to do that. So the idea, even when we can persuade, even when we have influence folks, the decisions The decisions that other people make are not ours, right? I mean, that's comes part and parcel with believing in liberty and freedom. By the way, I should say welcome to the program. I'm your beloved host, Todd Huff, email, Todd, the Todd huff questions and all that can be sent there. You can connect with us on our online community community, the Todd huff And it's pleasure to have you no matter what you believe, in fact,
I used to say, I don't care what you believe that's not actually accurate. I do care what you believe. Fact, I hope to influence you dare I say, for those that are leftists are moderates are not conservative, to accept the truths of conservatism. And you should be advised that listen to this program has been scientifically proven. In fact, 98% of scientists agree that listening to this program can effect cause you to lean to the right, so tread carefully listen at your own risk that is been documented, scientifically proven to be the result of listening to this program. So let's get back into this. And let's talk specifically about this this stupid letter. Right, the problem. I'm going back to Buckley here. And we're the comment about the problem with capitalism being individual capitalists, the problem with socialism actually being socialism itself. So I say that because I'm not when I'm going to go after this stupid letter today, which is nothing more than a political charade. But I'm not defending and particular oil company, there's no way I can know, right? As Buckley said, The problem with capitalism are, there's individual capitalists who do things in a way that isn't moral. Now, I'm not accusing anybody. At the same time, I'm just saying I can't possibly defend on a case by case basis. But what I can tell you and what I can definitively say, is that for the Biden, White House, for the Biden White House, Jimmy Carter's second term, the Oh Biden, Obama, third term, what what was it? Oh, Biden, Obama, I guess, third term? You can whatever you want to call it, these problems. The idea that government is I don't want to say this, the government is not to blame. But yet, capitalism itself is to blame is completely, absolutely preposterous. So the Biden administration writes a letter to the Federal Trade Commission. And in this letter, I'm going to read a part of this, it says, Dear chair Kahn, right, so this is written written to Lena Khan, the chair of the Federal Trade Commission, signed by Joseph Biden, looks like in crayon, I'm kidding. But it might as well be. It says I am writing to call your attention to mounting evidence of anti consumer behavior by oil and gas companies. The bottom line is this gasoline prices at the pump remain high, even though oil and gas companies costs are declining. The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump, I believe you should do so immediately. So keep in mind what's happening here. So to me, there's good this is this is such a charade. And an attempt to make it look like he's tried to do something. So now the media is going to say, Biden is you know, gonna fight the oil companies to bring down the price of gasoline at the pump, hogwash. My friends, if Biden wanted to bring down prices at the pump, he could instantaneously Well, probably could write an executive order the way executive orders are written today. But the the government could do something about this, you know what they could do? They could suspend gasoline taxes. And if I was to ask you, and I know we have many astute folks in this audience, but if I was to ask you, who actually makes more money on a gallon of gasoline? Who do you think it is? Do you think it is the federal government? Or do you think it is the oil companies now, I again am not here to be an apologist for oil companies. I'm that is not my point. But from all the data and all the things that I have read. Now I'm talking about net profits, that's profits after everything, all the costs of production distribution. Marketing, getting the product refined out of the ground, moved to wherever it needs to go at the pump, they pay their taxes. It's roughly from what I've seen. They oil companies profit. Now, I remember rush saying that was around 2%. But it looks to be around six 7% net profit. Right? So net profit. So
for those of you in business, I mean, you can you mean you know what your business does? Maybe you know what your if you've invested in other businesses, but 6%, roughly, right, sometimes six 7%? Do you have any idea how many cents in a gallon of gas goes towards taxes? Now I'm gonna say federal taxes. There's taxes on emissions, I think their state taxes. So it varies from state to state, in some the highest, the highest that I'm aware of. And I read on this and studied this for a bit. But the highest that I saw was California, and I believe New York, maybe Hawaii, all blue states, by the way, who love taxes was 66 cents. So that is almost 11 times, potentially 11 times now I know. You could say, well, Todd, that's not the government's net profit because they are taking that money. And they have to invest in other things. Which isn't one of those things roads, by the way. It is isn't that what we just passed this $1.2 trillion to invest in our infrastructure? What the heck is this money going towards? isn't part of it seems to me, all that money should effectively be used for maintaining the infrastructure of our nation, at least at least the highways and bridges and so forth. Because you're, you're using it that's a direct tax on an activity that almost always involves, that almost always involves cars going down the road. I mean, you can you can gas up a boat, a gas up a lawnmower, but I mean, the vast majority of gas goes into automobiles, right. I mean, whether they'd be semis making deliveries around the country, whether they be, you know, just me and you and everyone else driving around, that's the vast majority of the of the taxes are of the use of gasoline. So 66% in places like, again, California, New York, Hawaii, roughly 66 cents. So when you see prices in Hawaii, or San Diego, as we were just out there a couple of weeks ago, I think we saw, I don't think I personally saw over $5 I think I saw for something maybe I didn't see five, I can't remember. But a big portion of that is taxes. Now, I'm not here arguing that there should be no taxes. That's not my point. But if we want to if the Biden administration and the Democrat party really wanted to solve this, they could put a temporary moratorium on gasoline, at least the federal amount of gasoline taxes now, as it stands, it appears that roughly 45 to 50 cents, I'm gonna say, depending on the state you live in, is typically where I think it's really more like 4849 cents that vicinity where the total number of that's the total amount of tax in a gallon of gasoline. So instead of doing any of that, instead of doing what the American Petroleum Institute suggested today, which is turning domestically, for, you know, to our shale industry, fracking and so forth, or what have you to to provide this Biden first went to first went to these radicals these the cartel to OPEC a group that truly exists for the purpose of keeping oil prices under their farm and control I had a lot more to say about this. There's a timeout so sit tight back here in just a minute
Welcome back, my friends voice is getting I think, a little bit better not completely back to normal. Slowly and surely we'll get that taken care of. By the way, I want to mention here the program brought to you in part by our friends at Hayes and sons, Hayes and Sons restoration folks they can help with water damage, storm damage, fire damage, Property ree restoration, mold remediation, contents restoration and they can even do some board up service. For more information, check them out online Hayes and Hayes and Be sure to tell him you heard about him here on The Todd Huff Show. So let's get back into this discussion on taxes, profits, and this letter from Joseph Biden or his someone was on his staff. Again, as we know Biden's doodling on napkins, but someone wrote this on the staff and gave Biden pen to sign at the bottom. So I want to pick up we've already seen that he's he's making and of course, this sort of letter, by the way, left this love this leftist thing, this is the greatest thing, because what they're doing is identifying an enemy, which of course, is private business. It is capitalism. It's it's amazing to me and I, I have people I know that I've asked this question folks that hate big business. And again, I am not defending big, big business, I'm defending capitalism, I'm defending the system that allows for companies to be structured, as they just, you know, see fit, and then for there to be competition so that you and me and other people in the market can decide who we're going to, you know, give our business to where we're going to buy things and where we're going to get services and so forth. But it's amazing to me, that the same people who have all this distrust for big business, and I'm not suggesting there shouldn't be any distrust for big business. But these same individuals have absolutely complete utter faith in our government. And that is a perplexing thing to me, because oftentimes, I mean, if someone, I don't want to pick an individual company here, but let's say someone is the CEO of XYZ Corporation, some of these socialists have, you know, be completely, just totally against the person, that person's got to be evil, that person is making a profit, taking advantage of his workers, or whatever the case may be. But suddenly same person gets appointed to be, take your pick ambassador to something, something in the administration, suddenly we have no questions, we have no concern over what this individual suddenly they deserve our complete and utter confidence and hope, because they're a member of the government. And it is nuts to me, because first of all, there's competition in the market. And if there's not, there are antitrust laws that can be put into place to encourage competition and to prevent monopolies. But there is a monopoly when it comes to our federal government, the federal government is the federal government, there's not a nother federal government that you can choose to be a part of. Right? I mean, the states are that way. That's why the founders love the idea. I mentioned it on the television show recently. But the laboratories of the state's people, if they didn't like what was going on in their states, if they didn't like the taxes, or if they didn't like the regulation or the burden, or some of the things that the state was doing, in theory, you can move to another state. But you can't really move to you can move to another country, but it's a much different process than moving to simply another, another state. And so it's just a perplexing thing.
And honestly, the folks who I've asked this, they have no answer. In fact, I've seen sometimes they, they seem to be perplexed at their own way of thinking, why do I trust someone, when they are representing the government? They might think and not when they are CEO of a company, and why but to connect the dots. If I don't like a company or trust a company, there's a competitor that I can move my business to. So it's a different animal altogether. Not to mention, not to mention, these corporations cannot make laws that force you to do things that you don't want to do. That can affect your freedom. They have to actually entice you, give you reasons to walk into their store or buy their merchandise or get their services or what have you. Right, the federal government doesn't have to do any of that. So it's actually for those who trust our Government completely and who have complete distrust for the private sector. It's if you're going to have distrust for one, it shouldn't be the government. It's okay to have distrust for two. In fact, I would say, being skeptical and you know, cautious and absorbent is probably good in all dealings. Right. But the idea that the government is above reproach because why because Democrats are in charge. I mean, that is beyond stupid to me. Anyway, that's how this letter it's really it's it's it's making capitalism yet again for the left the enemy, right the enemy of the people. This also is something that the media can point to that the left can point to hold up a sheet of paper, and they can say, Oh, see, see him shake a sheet of paper. Hold up the letter though that Biden sign. See, he tried to do something he tried. He wrote a letter. He wrote a letter to the Federal Trade Commission, telling the Federal Trade Commission, he thinks the oil companies are bad. And that sounds right to people. And again, I'm not defending them. But the idea that Biden and our federal government can do this with any credibility. It's preposterous. I mean, we have a group of people leaving this country right now that are not just inapt. They are pushing things on the American people that we don't want that are not in our best interest. They're trying to force us to do all sorts of things through vaccine mandates, through you know, taxes and regulation, pushing in this climate change, rate, regulation and so forth. They are constantly seeking to control more of our lives, taking away our choices, moving us towards statism, or socialism, or worse. And these jokers have the audacity to put in the crosshairs Metaphorically speaking, of course, oil companies keep in mind, the Biden administration just said, well, one of their nominees is on video, literally just saying that we have to bankrupt the oil companies that would be these companies that they're targeting? I mean, can we not see that there's at least a conflict of interest here? Can we not see that the legislation, the agenda, the
intentions, desires of the Democrat Party, today's radical Democrat Party is led by the radical leftists they have a conflict of interest here because energy companies stand in the way of legislation that they want to see passed. Read another, the second paragraph of this letter here, and we're gonna take a break. But Biden, or whoever writes letters for Biden continues here in this letter A few months ago, at my request, the director of the National Economic Council wrote to you asking the commission, again, this is written to the Federal Trade Commission to consider monitoring the US gasoline market and addressing any illegal conduct occurring there in now, pause for a moment. It seems to me that if there's a legal conduct going on anywhere, that we should try to stop it. I don't, what is it that makes this that precipitated this oil prices, or gasoline prices are high. But when you look at the reasoning and the rationale, a lot of these things can be traced back to Biden's own positions, Biden's own policies, you can look at things like shutting down the Keystone pipeline, you can look at things like this hatred and desire to see the energy sector go bankrupt. So they're telling them to go basically dig around and see if you can find anything, these jokers are doing wrong, because we don't like gasoline prices being being high continues here. I appreciate that. Since then, you have directed the commission staff to strengthen oversight of mergers in the oil and gas sector that result in less consumer choice and potentially higher prices. This is all a game is the point. This is all a game. It's smoke and mirrors. It's designed. It's actually a sign in my estimation that says, Look, we know people are absolutely ticked off at us. We know that people we've seen our approval numbers down to what 38% or whatever it is. And we have to show people some sort of a token move here that we are doing things to help them and so they write this faux letter this make believe fantasy letter that says go after the oil companies for making too much money on gas, which what does that even mean? Either away. I mean, what, what is what is too much money? What is excessive? profit? Profit? If it's seven cents a gallon, would it not be 66 cents a gallon as the government takes now again, in fairness, I'm taking in all the taxes state and federal and that is the biggest. That's the largest amount of tax in any state. But even if it's 50 cents or 45 cents, that's still markedly higher than what we find energy companies profiting off of the sell of gasoline. And again, I'm not defending, but there's the forces to control that our competition and supply and demand. And what do we have right now in this country, we have a supply crisis of all different shapes and sizes. And one of the shapes and sizes of that involves the pumping the moving of, of crude oil, which this administration has stopped the production or the removing of crude oil from the ground. And not just that, for people who are in the fracking business. I mean, you look at the hit the energy companies have taken here, just from regulations and rulings and dictates from this all caring, benevolent administration. You look at this, and you realize that these things have created an atmosphere and environment and some of the things that are happening are outside of the scope of our government. There are other factors, but it's a perfect storm. It's a perfect storm that creates all sorts of negative pressures on this market. We're coming out of COVID supply or Cimi. Demand is going up. We're still trying to figure out supply side, all sorts of things. Obama, excuse me, Biden wants to blame the oil companies crazy stuff. Gotta take a break. So tight, my friends back here in just a minute.
Oh, yes, but Biden cares. He cares enough to write a letter to the Federal Trade Commission and play this game of charades smoke and mirrors make believe to make you think which of course doesn't work. But he wants to make Americans think which it does work with some folks. Make them think that he cares enough to write the letter to target the oil companies to blame them. For the problems again, of Obama should have done that twice. A Biden wants to, if Biden wants to do something about this, he could address the tax issue, but they don't address the tax issue. That's their money. That's their power. Right? That's not, that's not even remotely close to being on the table. And that would be a much more, much more effective way to bring down prices would be to cut the taxes versus the cut out the profit. You can't by the way, what are we gonna make these oil companies produce oil at a loss? Right? I mean, if these numbers are correct, and they're seven cents a gallon, is what the profits are seven cents per gallon of gasoline for the oil companies. I mean, even if they did it at cost, and they did it for seven cents less Is that does that sound to you? Like that's really addressing the problem? Versus what if they took away 50 cents of the taxes that are applied? petard? Who's gonna work on our roads? I thought we just passed $1.2 trillion, that the Biden administration told us we've been waiting 50 years on a piece of legislation to fix our roads and bridges. So I mean, he can't have it both ways. Where's the money that's working that's being used to work on our roads and bridges coming from it's either coming from this transportation, or the gasoline tax or from this so called infrastructure bill. Either way, it cannot be both, or we were lied to when they pass this stupid infrastructure bill. So basically, I'm gonna read the last paragraph of this letter. I'm going to skip the third one, it's longer. It's basically it's basically saying the cost. The cost to produce unfinished gasoline is down 5% While gas prices at the pump up 3% In the same period, again, we're talking what's the I have to look it up? I don't even the average price. We have diesel now, and where I'm at right now. There's a lot of places that crosses into $4 a gallon, but I think it's probably typically around 350 937 79 That may be wrong, and gasoline is less, typically less sometimes it's more than diesel. Anyway, five 5% 8% is what they're talking about. That's still not putting it in the right. Where where people would really want gasoline prices to be remember what they were when Trump, you've seen that you've seen the memes on social media. Things like, what I wouldn't give for 20 or, you know, whatever it was dollar 85 get I don't know the number but, and a mean tweet or what have you. But here's the last paragraph of this letter. And this is just, I think, just a desperation move with this letter being sent to begin with. Biden says this, I do not accept hardworking Americans paying more for gas because of anti competitive or otherwise potentially illegal conduct. He's making an assertion here, they have no idea what they're talking about. But that doesn't again, welcome to being a leftist. They become experts in everything knowing nothing. Right? They have no idea doesn't matter. In fact, I told a couple of people today something I've been sometimes you have an idea and you just try to you try to capture the essence of it. I think I did that today with with something. And I was thinking about you all these experts, experts on gasoline prices, experts on Coronavirus, right vaccines, all this stuff gotta listen to the experts gotta listen to these folks, they can tell you, your job is to just sit there and do whatever you're told, because obviously, you're stupid, and you're not as smart as the leftists in America to make these decisions. So you just got to go along with the flow and whatever they say is what goes. But I realized that I think that this is correct. If you're a so called expert, but you can't explain things to the people. You're not an expert, you're an authoritarian. So if you tell people to do if, for these government officials like Fauci who I saw, making some comments the other day, answering questions from some
from some media reporter, I can't even remember who it was. When I saw Fauci actually say, I mean, he had acted confused that people actually wanted to have freedom as to what they were going to do. Regarding a vaccine with their own body. He couldn't even understand that what is what is this concept and notion that this, that we're talking about freedom I've spoken, right, this is my point, an expert would be able to explain and articulate. And I'll tell you why. an authoritarian says do it because I say so. And that's what we've got here. So this is what the stupid letter is an authoritarian move. It concludes by saying I therefore ask that the Commission further examine what is happening with oil and gas markets, and that you bring all the commission tools to bear if you uncover any wrongdoing. Such a dog and pony show this, this really has lit my fire that this this is government at its worst, this is a distraction. This is casting blame on the private on a capitalism when capitalism is actually what makes all that the stinking government have what they have it makes capitalism makes that possible. And yet they have the audacity to effectively blame free markets insinuating that folks are brick if folks are breaking the law, then they should be prosecuted and, you know, forced to deal with the consequences of that no matter whether or not they get a letter from Biden or not. quick timeout, listen, when I get back, I want to play I want to share with you the response from the American Petroleum is an American Petroleum Institute. We'll do that after the break. I love this by the way more groups need to do exactly what the API is doing back in just a minute.
back my friend, so let's look here at what the American Petroleum Institute said. Now, of course, a lot of people, including a lot of the folks that love just the fact that the headline is Biden tells FTC that make sure oil companies aren't doing things to profit too much off of people paying at the pump, right? That's a royal headline aversion. That's a headline. But the American Petroleum Institute responded to the tweet of this stupid letter from the White House. To the FCC FTC. This is the response from the American Petroleum Institute. This is a distraction from the fundamental market shift that is taking place and the ill advised government decisions that are exacerbating this challenging situation. Demand has returned us the folks that are leftists and who just want to focus on feelings. This is already too long here. But demand has returned. As the economy comes back and is outpacing supply. They're trying to explain what's going on here. And targeting profits of oil companies is not a way to go about addressing this problem. But it does help politically because now you can position yourself as a benevolent Well, dare I say dictator? That's what they call Trump. Turnabout is fair play. Anyway, demand has returned as the economy comes back and is outpacing supply. Further. impacting the imbalance is the continued decision from the administration to restrict access to America's energy supply, meaning, meaning they're not allowing people to drill geo to pull oil out of the ground in certain parts of the country, as Trump did, and to cancel important infrastructure projects. Things like they don't say this, but like the Keystone pipeline, rather than launching investigations on markets that are regulated and closely monitored on a daily basis. Or pleading with OPEC. That's something Biden did last week, going to the oil cartel of countries that include a list of countries that include Iran, by the way, one of what 15 I think now, he begged OPEC to produce more. So instead of trying to figure out a way to and this is the API is points that have fun trying to find a way to domestically deal with this problem. He went and begs OPEC, and when that didn't work, he decided to launch investigations into America, you know, oil companies Big Oil, which of course will make his base happy, but it's not going to do anything. This is just like the January 6 Commission. This is all political theater, and it's bad at that. That's why I call them drama, Kratz drama Kratz. This is what this is finishing the statement here. They say it's better or he pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American made oil and natural gas. Absolutely. This is something Trump understood this by the way. This by the way, I'd love to see more things like this from organizations getting bold and standing up to this, I think, out of control, borderline totalitarian behavior, from this administration at times. And I love seeing groups actually come out and say things like this, this needs to be said, This is not good, what's happening. It's a distraction from reality. They're trying to score political points and somehow manage a situation that's collapsing all around them because they are completely inept at leading this country. I gotta take a break back here in just a minute
Welcome back, my friends, the attack on capitalism, free markets is in full force. It is in full force. We've known that for some time that is not surprising in the least it is just what we have to have to deal with. And when you're a drama Kratt and you are trying to play the game of political theater It is sometimes well, it's right in the crosshairs it plays to your base attack can't attack capitalism, free markets. blame someone anyone besides yourself because Heaven knows they can never be capable of accepting the responsibility for their own actions, but anyway, got to go out of time. Thanks for listening. SDG See you tomorrow. Take care