[TOWNHALL] President Biden warned oil companies last week that if they don’t do more to help address rising prices, he will revoke their drilling permits on federal lands.While touting that gas prices have fallen to below $4 at 30,000 gas stations across 35 states, he said more needs to be done.
"First, we’re going to look at ways to increase oil production from the existing wells and permits that exist today," he said. "The industry has more approved permits for production on federal lands than they can possibly use. That’s a fact. Let me say it again: They have more than they can use.
"So my message to these companies is: Use the permits or lose them. Don’t say we can’t — you don’t have access," he added.