Tags: nancymace | biden | oil | election

Rep. Mace to Newsmax: Taxing Oil Profits Shows Biden's Ignorance

By    |   Tuesday, 01 November 2022 01:52 PM EDT

President Joe Biden's threat to pursue a windfall tax on oil and gas companies to push them to use their record profits to increase production and lower prices for Americans shows he doesn't "know anything about business" or how energy pricing works, Rep. Nancy Mace said on Newsmax Tuesday.

"Long before Russia invaded Ukraine — and in fact, due to the pandemic and disruptions in the supply chain — one of the reasons that prices have gone up over the last two years is there's also scarcity in the market," the South Carolina Republican, who is seeking reelection, told Newsmax's "Wake Up America." "When there is scarcity in the market, prices are going to go up when there's greater demand.

"These things all contribute to the prices that we're seeing when they go up and down."

Further, she said that oil companies are dealing with lawsuits filed while trying to get their drilling permits enacted again, so there are a "number of different drivers that go to pricing."

Biden's policies already "aren't good for oil prices, either," Mace added. "If you do this windfall tax, all it's going to do is make the consumer pay more and inflation is going to go up."

Turning to her congressional election, Mace spoke out about how her district in South Carolina is one of the fastest-growing in the nation and is now a battleground, purple swing district where some Democrats are voting Republican because of the "woke nature" of their party.

Mace noted that policies such as defunding the police and Border Patrol and sex change surgery on minors are "all things that my opponent, Annie Andrews" supports, but Democrats, and "especially women are fed up with it."

"They're looking at economic issues," she said. "They don't like the wokeness that's happening, and they're coming back to the Republican Party."

Mace also agreed that parents are tired of what their children are learning in school.

"When gender pronouns are your priority over the economy, you have a messaging problem," she said. "When you see crime increase because you want to defund the police, you have a messaging problem. When you want open borders and want to defund the Border Patrol, you have a huge problem.

"Those are all things that my opponent supports and most Democrats do too."

About NEWSMAX TV:

NEWSMAX is the fastest-growing cable news channel in America!

Sandy Fitzgerald

Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics. 

© 2024 Newsmax. All rights reserved.


Newsmax-Tv
President Joe Biden's threat to push for a windfall tax on oil and gas companies to push them to use their record profits to increase production and lower prices for Americans shows he doesn't "know anything about business," Rep. Nancy Mace said on Newsmax.
nancymace, biden, oil, election
430
2022-52-01
Tuesday, 01 November 2022 01:52 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved