Pres. Biden sends letters to 7 major oil refiners - an area of intense focus at the WH due to capacity issues.
-Energy Sec will convene emergency meeting
-Companies asked to provide reasons for reduced refining capacity and “any concrete ideas” to address issues
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Biden in letter to refinery execs: "My administration is prepared to use all reasonable and appropriate tools and emergency authorities to increase refinery capacity and output in the near term."
Letters sent to: Marathon
Valero
ExxonMobil
Phillips 66
Chevron
BP
Shell
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Biden: "I understand that many factors contributed to the business decisions to reduce refinery capacity, which occurred before I took office. But at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable."
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And here is the full industry response to the White House letters to refinery executives - via letter to President Biden tonight:
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Biden, lead by Kerry, thought the energy transition could happen immediately..magically. Energy transitions take decades and they require thoughtful long term plans.
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Wil VanLoh is one of the world’s top energy investors of all-time. His companies are currently building some of the largest alternative energy projects in the world as well as being the second largest driller of hydrocarbons in North America. I just sat down with him 1/4 twitter.com/RealVision/sta…Show this thread
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I think this action should have been done quite awhile ago
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Its like they dont think we have the fucking internet and can look up exactly what they said and what they did LMAO
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