New York billionaire and refiner John Catsimatidis warned that rising interest rates could produce ill effects on the U.S. economy.
The White House’s “obsession” against “turning on North American oil spigots” has triggered a significant hike in energy costs and inflation, Catsimatidis told Fox Business on Tuesday. He noted that the Biden administration asked Saudi Arabia and other nations for more crude oil production rather than boosting domestic output.
