Bidens Blunders
- Thread starter John A.
- Start date
Bobster
.30-06
TheRude1
20g
Ain't that the truth!
Biden asks seven oil companies for 'any concrete ideas' to turn around the $1.70 rise in gas prices since the start of the year and threatens 'emergency powers' if they don't increase their supply while they've 'tripled' profits
https://www.dailymail.co.uk/news/ar...rn-gas-prices-threatens-emergency-powers.html
https://www.dailymail.co.uk/news/ar...rn-gas-prices-threatens-emergency-powers.html
A surprisingly good article at MSN (believe it or not). So, I'm going to add some excerpts here:
https://www.msn.com/en-us/money/mar...sedgntp&cvid=d08dff009a994912950d2fed5c12127f
Oil Companies Unload On Biden After His Thinly-Veiled Threats
Thomas Catenacci - 9h ago
“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 American Petroleum Institute and American Fuel & Petrochemical Manufacturers wrote to Biden on Wednesday.
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“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,” Chevron spokesperson Bill Turenne said.
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Biden penned a letter to seven major oil companies Tuesday insisting they increase oil refining operations to counter declining fuel supplies and inventories nationwide. The American Petroleum Institute (API) and American Fuel & Petrochemical Manufacturers (AFPM) sent a letter to the White House Wednesday evening, saying energy companies are refining at an increasingly high rate and government policies have injected uncertainty into the industry, in a response sent to the White House on Wednesday evening.
“Refiners do not make multi-billion-dollar investments based on short-term returns,” the two groups wrote in the joint letter to Biden. “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 timing and reasons for shutdowns of several refineries, including the Philadelphia Energy Solutions and Shell Convent refineries, were primarily due to lack of buyers willing to continue operating the facilities as petroleum refineries given growing rhetoric about the long-term viability of the industry,” the letter continued.
------------
On Wednesday, several of the companies Biden addressed in his warning letter responded in force, echoing the industry groups’ response. They noted their refinery utilization rates are high and that the president’s policies are holding them back.
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“Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines,” the company’s statement continued.
---------------
The API and AFPM noted that the Environmental Protection Agency recently finalized a vehicle standard to force gasoline demand down over the next decade and the administration encouraged an effort in California to place a future ban on traditional gasoline-powered vehicles. Multiple federal agencies have also introduced roadblocks for approving and constructing energy infrastructure projects like pipelines, the groups added.
Increasing refining capacity would boost crude oil demand and, therefore, prices would soar higher since the administration has largely opposed new fossil fuel production and leasing, the groups said.
---------------
“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.” “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,”
https://www.msn.com/en-us/money/mar...sedgntp&cvid=d08dff009a994912950d2fed5c12127f
Oil Companies Unload On Biden After His Thinly-Veiled Threats
Thomas Catenacci - 9h ago
“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 American Petroleum Institute and American Fuel & Petrochemical Manufacturers wrote to Biden on Wednesday.
-----------
“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,” Chevron spokesperson Bill Turenne said.
-----------
Biden penned a letter to seven major oil companies Tuesday insisting they increase oil refining operations to counter declining fuel supplies and inventories nationwide. The American Petroleum Institute (API) and American Fuel & Petrochemical Manufacturers (AFPM) sent a letter to the White House Wednesday evening, saying energy companies are refining at an increasingly high rate and government policies have injected uncertainty into the industry, in a response sent to the White House on Wednesday evening.
“Refiners do not make multi-billion-dollar investments based on short-term returns,” the two groups wrote in the joint letter to Biden. “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 timing and reasons for shutdowns of several refineries, including the Philadelphia Energy Solutions and Shell Convent refineries, were primarily due to lack of buyers willing to continue operating the facilities as petroleum refineries given growing rhetoric about the long-term viability of the industry,” the letter continued.
------------
On Wednesday, several of the companies Biden addressed in his warning letter responded in force, echoing the industry groups’ response. They noted their refinery utilization rates are high and that the president’s policies are holding them back.
-------------
“Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines,” the company’s statement continued.
---------------
The API and AFPM noted that the Environmental Protection Agency recently finalized a vehicle standard to force gasoline demand down over the next decade and the administration encouraged an effort in California to place a future ban on traditional gasoline-powered vehicles. Multiple federal agencies have also introduced roadblocks for approving and constructing energy infrastructure projects like pipelines, the groups added.
Increasing refining capacity would boost crude oil demand and, therefore, prices would soar higher since the administration has largely opposed new fossil fuel production and leasing, the groups said.
---------------
“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.” “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,”