Elizabeth Warren’s 2020 Presidential run was a humiliating failure.
But she’s still trying to fundamentally transform the country.
And Elizabeth Warren just made one move that has Democrats panicking.
The country is in the middle of its worst energy crisis since Jimmy Carter.
Joe Biden’s war on American energy and the Russia-Ukraine conflict have sent the price of oil soaring.
Gas prices are skyrocketing so fast that some stations stopped updating their signs because they can’t update them fast enough.
The country now has its highest average gas price in history, with more pain on the way.
This is becoming a major political problem for Democrats heading into the Midterm elections.
Voters are furious, and polling shows that they blame Biden for sky-high prices.
Democrats are blaming oil companies for the problems they caused.
They’re using their tried-and-true playbook of blaming “Big Oil” for price gouging.
Elizabeth Warren has Democrats sweating bullets after she offered her “solution” to high gas prices.
Warren is planning to introduce legislation for a new windfall profits tax on oil companies.
“Big Oil’s first priority is to maximize profits. We can’t let them use Putin’s invasion as an excuse to pad their bottom line with war-fueled profits,” Warren announced.
She agrees with Barack Obama’s old adage, that “now is not the time for profits.”
On MSNBC, Warren said, “Look, we get it, supply and demand, that prices go up. But profit margins should not go up. That’s just oil companies gouging when they do that.”
While the radical socialists who love the Green New Deal are swooning, this is a disaster for Democrats.
If the tax were to pass, it would crush the oil industry on top of the gut punch they already took from Biden’s policies.
The bill would be just another tax to hammer oil companies for not being “environmentally friendly.”
It would reduce the supply of oil and the cost of the tax would be passed on to consumers through another devastating price increase.
Warren doesn’t want to let a crisis go to waste.
As an environmental wacko, she wants the price of gas to skyrocket.
The goal of radicals like Warren is to make gas so expensive that drivers are forced to switch over to electric cars.
Under Jimmy Carter, a windfall profit tax was implemented during his energy crisis.
The tax was repealed by Ronald Reagan with the votes of many Democrats.
The Congressional Research Service found that the Carter windfall profit tax reduced the supply of oil, raised the price of oil, and brought in far less tax revenue than projected.
With the country in the grips of an energy crisis, socialists like Warren are going to try and take advantage to push their green agenda.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.