Biden Accuses Oil Companies of ‘War Profiteering’ and Threatens Windfall Tax

The president has been eager to redirect public anger over gas prices as Democrats try to keep power in Congress in the midterm elections.

President Biden threatened on Monday to seek a new windfall profits tax on major oil and gas companies unless they ramp up production to curb the price of gasoline at the pump, an escalation of his battle with the energy industry just a week before the midterm elections.

The president lashed out against the giant firms as several of them reported the latest surge in profits, which...