“We did it, Joe” memes of Vice President Kamala Harris and Joe Biden are popping up all over social media alongside individuals photographs of the horrendously high prices they have to pay at the gas pump to fill their cars.
Biden has no intention of fixing it, as proven by the administration’s recent decision to actually cancel an oil and gas lease win the Gulf of Mexico and Alaska’s Cook Inlet.
This is nothing short of purposeful destruction of America. The Interior Department told The New York Post that the Cook Inlet lease sale would not move forward because of a “lack of industry interest in leasing in the area.”
In the Gulf of Mexico, the department canceled two lease sales, citing “conflicting court rulings that impacted work on these proposed sales.”
The timing is outrageous, considering “as of Thursday morning, the national average price of a gallon of regular gas stood at $4.418, according to AAA — the highest on record and $1.41 higher than at this time last year.”
Additionally, the scenario also displays just how much federal judges tend to completely disagree with his actions. “Biden imposed a moratorium on the sale of new leases one week after his inauguration, but the order was later blocked by a Louisiana federal judge who granted a preliminary injunction to 13 states that claimed they would suffer ‘irreparable injury’ from the White House move” writes The Post.
At least federal judges are watching out to keep our country afloat, let along thriving, considering our own President and Vice President will not.
Republicans and energy industry representatives are fuming over the decision. “Yesterday, Americans paid the highest price for gasoline in history,” tweeted Sen. Marco Rubio (R-Fla.). “At the same time Biden just canceled our largest pending American oil & gas lease sale.”
“Gas prices are at a record high, and Biden just canceled oil and gas leases in Alaska and the Gulf,” added Sen. Tom Cotton (R-Ark.). “Joe Biden is directly responsible for the high cost of gas.”
“It’s almost like the Biden administration WANTS gas prices to go higher” said Pennsylvania US Senate GOP candidate Carla Sands
“The President has spoken about the need for additional supplies in the market, but his administration has failed to take action to match that rhetoric,” Frank Macchairola of the American Petroleum Institute told CBS News, calling the cancellations “another example of the administration’s lack of commitment to oil and gas development in the US.”
“In the kind of price environment that we’re seeing, there are negative consequences to shutting off oil and gas development, both politically and practically,” he added.
If the administration had moved forward with the Alaskan lease, it would have covered more than 1 million acres, according to The Hill.
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Swiss Bank Admits to $5.6 Billion Tax Evasion Scheme, Settles for $120 Million
Banque Pictet, the private banking arm of the Pictet Group based in Switzerland, has admitted to conspiring with U.S. taxpayers to hide billions of dollars from the Internal Revenue Service (IRS) in over 1,600 secret bank accounts. The Justice Department revealed on Monday that Banque Pictet has agreed to pay over $120 million in restitution to the U.S. Treasury as part of a settlement.
The bank’s involvement in the tax evasion scheme spanned from 2008 through 2014, during which it conspired with American taxpayer clients to conceal more than $5.6 billion of the approximately $20 billion in U.S. assets. This led to an evasion of around $50.6 million in U.S. taxes, according to prosecutors.
Of the $5.6 billion concealed, the funds were distributed across 1,637 accounts, implicating more than 40% of the total 3,736 private accounts owned by U.S. taxpayers held by the bank. Banque Pictet reportedly assisted its American clients in hiding their undeclared accounts through various means, including the formation and administration of offshore entities. Undeclared accounts were then maintained in the names of these entities on behalf of U.S. taxpayer clients.
Jim Lee, Chief of IRS Criminal Investigation, emphasized the importance of the case in sending a strong message to those attempting to hide assets and income offshore. Lee stated, “This case should provide a clear message to others who try to hide their assets and income offshore. Offshore tax evasion is a priority for IRS Criminal Investigation.”
The settlement underscores the ongoing efforts by U.S. authorities to combat tax evasion and sends a clear warning to financial institutions and individuals involved in such illicit activities. As regulatory scrutiny intensifies globally, financial institutions face increasing pressure to ensure compliance with international tax laws and prevent their involvement in tax evasion schemes.
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