Biden To Use “Emergency Authorities” Once Again

Biden spent the last two years using every trick in the book to shut down oil companies. Now he is going to use “Emergency Authorities” to bring back production.

Fox Business reports on the letters Biden has sent out to oil companies including Shell, BP, Chevron, Phillips 66, ExxonMobil, Marathon Petroleum Corp, and Valero Energy Corp.

Biden writes “My administration is prepared to use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied.”

Also in the letters, he accuses the companies of exploiting Americans by running “historically high profit margins.”

“There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing,” Biden writes, adding “But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain.”

In the letters, Biden’s Press Secretary accused oil companies of not doing their “patriotic duty” and producing more.

Karine Jean-Pierre also echoed Biden’s threat of using emergency powers against oil companies:

One of the oil companies, Exxon Mobil has responded back to Biden blasting his attempts to blame them for his own failing energy policies.

”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,” a company press release states, adding ”This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period.”

The release continues, ”Globally, we’ve invested double what we’ve earned over the past five years – $118 billion on new oil and gas supplies compared to net income of $55 billion. This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products.”

The oil company adds that ”Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery.”

”We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand,” the company further asserted.

Biden has spent the last two years shutting down oil production and now he’s blaming them for no oil. What the hell?

Biden and his officials are so confused why oil companies are not taking any advantage of some 9000 permits to drill. Oh, maybe because Biden won’t let them?

After Biden and his cronies tried and failed to make friends with Saudi Arabia, he is switching the blame to the US oil companies.

Who do you think produced more oil in the US, Trump or Biden?