(Steve Watson) “Following on your campaign promise to ‘end fossil fuel,’ consider just some of the policy and investment signals being sent to the market about our refining industry.”
Related Is Corporate Greed Behind High Gas Prices?
by Steve Watson, June 17th, 2022
Following Exxon Mobil’s scathing response to Joe Biden’s threat to use “emergency authorities” against oil companies to make them produce more fuel, more industry leaders have issued equally damning come backs.
As we noted yesterday, after spending two years vowing and acting to shut down the production of fossil fuel energy, Biden is now imploring the companies to ramp up output.
Biden accused the companies of worsening the energy crisis by not doing enough and of exploiting Americans, while the White House proclaimed oil companies are not doing their “patriotic duty.”
Exxon Mobil blasted Biden’s attempt to blame them for his own failing energy policies, noting “We have been in regular contact with the administration to update the president and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies.”
Overnight, Chevron chimed in issuing a statement noting “We understand the significant concerns around higher fuel prices currently faced by consumers around the country, and the world. We share these concerns, and expect the Administration’s approach to energy policy will start to better reflect the importance of addressing them.”
The company added “Unfortunately, what we have seen since January 2021 are policies that send a message that the Administration aims to impose obstacles to our industry delivering energy resources the world needs.”
In addition, the American Petroleum Institute and American Fuel & Petrochemical penned a joint letter in response to Biden, noting that “Refiners do not make multi-billion-dollar investments based on short-term returns,” further explaining that “They look at long-term supply and demand fundamentals and make investments as appropriate.”
“To that end, following on your campaign promise to ‘end fossil fuel,’ consider just some of the policy and investment signals being sent by various federal agencies and allied state governments to the market about our refining industry,” the joint letter continued.
In other words, Biden’s own promise to shut down their industry is to blame for downward trending production.
When asked Thursday By Peter Doocy if the push to end fossil fuels is now off the table, the White House Press Secretary said ‘no’:
Doocy also nailed Jean-Pierre to another Biden administration lie about inflation and fuel prices:
Meanwhile, Biden is attempting to cosy up to Saudi Arabia for oil, while ensuring that the Russian oligarchs his family previously did big business with are exempt from sanctions.
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