This is what Biden said in his letter to Oil Executives. Note the "threat" contained within. What's he going to do send in the Army?
“At a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable,” he wrote in the letter, which went to Exxon Mobil Corp., BP and Shell, among others.
“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,” Biden said, noting he had already invoked his emergency powers in other ways.
And Oil executives / companies responded HARSHLY.
This from Exxon:
In a statement released Wednesday afternoon, Exxon Mobil defended its activities and listed the investments it made before and during the pandemic. “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,” the statement said. “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.”
SPENT 118 billion PAID 40 billion in taxes last year LOST 20 billion in 2020 BORROWED 30 BILLION in 2019 Exxon Mobil
Chevron said:
Chevron said that since Biden got into office, the administration has relayed that it will “impose obstacles to our industry delivering energy resources the world needs.”
Further the CEO of Chevron said " no new refineries are likely to ever be built in America again." NO NEW REFINERIES have been built since 1976
The newest large refinery built in the US was completed in 1976 in Garyville, Louisiana. Since then, while some existing refineries have expanded, new refinery construction has faced significant barriers in environmental regulation, permitting, and local political opposition.
So since 1976 NOTHING NEW. Imagine how the technology has improved since 1976. Cleaner, safer, more efficient but NOT IN AMERICA.
Current refineries are operating at 94% capacity
11 Refineries have been closed down by his EPA
Now he is talking to oil companies about re-opening shut down refineries. Thats how stupid this is.
“At a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable,” he wrote in the letter, which went to Exxon Mobil Corp., BP and Shell, among others.
“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,” Biden said, noting he had already invoked his emergency powers in other ways.
And Oil executives / companies responded HARSHLY.
This from Exxon:
In a statement released Wednesday afternoon, Exxon Mobil defended its activities and listed the investments it made before and during the pandemic. “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,” the statement said. “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.”
SPENT 118 billion PAID 40 billion in taxes last year LOST 20 billion in 2020 BORROWED 30 BILLION in 2019 Exxon Mobil
Chevron said:
Chevron said that since Biden got into office, the administration has relayed that it will “impose obstacles to our industry delivering energy resources the world needs.”
Further the CEO of Chevron said " no new refineries are likely to ever be built in America again." NO NEW REFINERIES have been built since 1976
The newest large refinery built in the US was completed in 1976 in Garyville, Louisiana. Since then, while some existing refineries have expanded, new refinery construction has faced significant barriers in environmental regulation, permitting, and local political opposition.
So since 1976 NOTHING NEW. Imagine how the technology has improved since 1976. Cleaner, safer, more efficient but NOT IN AMERICA.
Current refineries are operating at 94% capacity
11 Refineries have been closed down by his EPA
Now he is talking to oil companies about re-opening shut down refineries. Thats how stupid this is.
