Biden paints oil firms as war profiteers, talks windfall tax

WASHINGTON (AP) — President Joe Biden is raising the possibility of imposing a windfall tax on oil companies if they don’t boost domestic production. This comes as his administration aims to combat high gas prices just days before the midterm elections. Biden in brief remarks on Monday accused energy companies of “war profiteering” by making record-setting profits amid the ongoing war in Ukraine. Biden says he may ask Congress to pursue a windfall tax on the profits of energy companies, as he seeks to pressure them to lower prices for consumers. Biden is calling on oil companies to “meet their responsibilities in this country and give the American people a break.”