On Tuesday's broadcast of CNN's "Situation Room," Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers criticized President Joe Biden's threatened windfall profits tax on oil and argued that it "would discourage investment in oil, which would ultimately mean higher oil prices." And that as we're working out of "some of the problems that were created by an excess of hostility to hydrocarbons a couple of years ago" that has decreased the energy supply, "now we're taking another hostile to hydrocarbons act."