President Joe Biden's threat to pursue a windfall tax on oil and gas companies to push them to use their record profits to increase production and lower prices for Americans shows he doesn't "know anything about business" or how energy pricing works, Rep. Nancy Mace said on Newsmax Tuesday.
"Long before Russia invaded Ukraine — and in fact, due to the pandemic and disruptions in the supply chain — one of the reasons that prices have gone up over the last two years is there's also scarcity in the market," the South Carolina Republican, who is seeking reelection, told Newsmax's "Wake Up America." "When there is scarcity in the market, prices are going to go up when there's greater demand.
"These things all contribute to the prices that we're seeing when they go up and down."
Further, she said that oil companies are dealing with lawsuits filed while trying to get their drilling permits enacted again, so there are a "number of different drivers that go to pricing."
Biden's policies already "aren't good for oil prices, either," Mace added. "If you do this windfall tax, all it's going to do is make the consumer pay more and inflation is going to go up."
Turning to her congressional election, Mace spoke out about how her district in South Carolina is one of the fastest-growing in the nation and is now a battleground, purple swing district where some Democrats are voting Republican because of the "woke nature" of their party.
Mace noted that policies such as defunding the police and Border Patrol and sex change surgery on minors are "all things that my opponent, Annie Andrews" supports, but Democrats, and "especially women are fed up with it."
"They're looking at economic issues," she said. "They don't like the wokeness that's happening, and they're coming back to the Republican Party."
Mace also agreed that parents are tired of what their children are learning in school.
"When gender pronouns are your priority over the economy, you have a messaging problem," she said. "When you see crime increase because you want to defund the police, you have a messaging problem. When you want open borders and want to defund the Border Patrol, you have a huge problem.
"Those are all things that my opponent supports and most Democrats do too."
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