President Joe Biden will urge the oil majors on Monday to reinvest their profits to drive down energy prices and plans, if they don't, to ask Congress to tax their superprofits.
According to a White House official, Joe Biden will again urge the big oil and gas companies “
to invest their record profits in order to lower energy costs for American families and increase their production
”.
"
If they don't, he will ask Congress to consider taxing them and subjecting them to other restrictions
," he added.