Breitbart Business Digest

March 30, 2022

Today's Top Stories From the Breitbart News Desk

The left seems to have developed a communication problem. On Tuesday evening, House Democrats announced that they would be summoning to Capitol Hill the leaders of the major oil companies to answer their inquiries about the rise in the price of gasoline. The chief executives of Chevron, Devon, Exxon Mobil, Pioneer Natural Resources, and the presidents of Shell USA and BP America are all expected to be witnesses.

“Fossil fuel companies are not doing enough to relieve pain at the pump, instead lining their pockets with one hand while sitting on the other,” the Democrats said. “It’s time we get to the bottom of why oil companies are content to watch Americans suffer so that their shareholders and executives can reap enormous profits.”

Unfortunately for those pushing this idea that oil companies were intentionally starving us of oil, on the very next day a massive coalition of climate change alarmist groups released their report titled "Banking on Climate Chaos: Fossil Fuel Finance Report 2022." The report actually contains the news that the four largest U.S. banks shrank their financing for fossil fuels by nearly 15 percent between 2019 and 2021. This, however, is not treated as a sign of progress but as a sign of banks dragging their heels in getting out of the fossil fuel business.

The final section of the report is entitled "conclusions and demands" because of course it is. It's never enough to simply conclude for the left or make recommendations. It's got to be demands. So the conclusions and demand section begins with the following demand: "Prohibit all financing for all fossil fuel expansion projects and for all companies expanding fossil fuel extraction and infrastructure along the whole value chain." In other words, they are demanding the end to all financing for the very thing that the Democrats are holding hearings to investigate.

We're tempted to show up at the hearing with this very document. Perhaps they can call the whole thing off.

– Alex Marlow & John Carney
Breitbart News Network

TOP STORY

Poll: Just One in Three Americans Trusts Congressional Democrats on Inflation

Shifting Democrat responses to inflation have not improved their standing on the issue with the public, a poll released Wednesday suggested.
Democrats first denied that inflation was a serious problem, predicting it would soon fade and castigating those who raised it as following Republican talking points. At times, they said inflation would have a silver lining of higher wages or was a concern only to elites. More recently, the Biden administration has taken to claiming high prices are a result of “Putin’s price hikes.”
Now a new Morning Consult/Politico survey suggests that ahead of the midterm elections, voters trust Republicans far more than Democrats on the issue of inflation. [Click here for more]

IN OTHER STORIES...

Democrats Plan Hearings to Blame Oil Companies for High Gas Prices

House Democrats will hold hearings blaming oil and natural gas companies for the soaring gas prices under President Joe Biden.
The House Energy Commerce Committee will hold a hearing, “Gouged at the Gas Station: Big Oil and America’s Pain at the Pump,” on April 6 that will include the CEOs of Chevron, Devon, Exxon Mobil, Pioneer Natural Resources, and the presidents of... [Click here for more]

U.S. Crude Oil Inventories Plunge and Prices Jump as Climate Left Calls for End of Fossil Fuel Financing

U.S. crude-oil stockpiles plunged last week as a pick-up in refining was not matched by a pickup in extraction, which remains paralyzed due to pressure on banks and investors to cut off access to credit and capital for fossil fuel companies.
Crude-oil inventories fell by 3.4 million barrels to 410 million barrels, according to data released Wednesday by the Energy Information Administration. That was a bigger drop than the 2.5 million decline forecast by... [Click here for more]

ADP-Moody’s Says U.S. Economy Added 455,000 Private Jobs in March

March 30 (UPI) — For the second month in a row, the U.S. economy added close to a half-million private-sector jobs during the month of March, ADP and Moody’s Analytics said Wednesday in their monthly labor snapshot.
ADP and Moody’s said in their private jobs report — which is separate from the government’s official assessment — that 455,000 private-sector hires were made... [Click here for more]

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