Granholm on Past Windfall Taxes Increasing Prices: We Prefer We Don't Have to Impose One and It Won't Hurt Production

On Thursday's broadcast of CNBC's "Closing Bell," Energy Secretary Jennifer Granholm responded to a question on historical evidence from Europe and the U.S. that a windfall profits tax like the one floated by President Joe Biden would hurt production by stating that the "preference" is that companies lower prices or increase production without a windfall profits tax being imposed and that if a tax is implemented it would be designed to encourage more production.