Oil industry pushes back on White House threats

Earlier this month, President Joe Biden responded to rising gas prices with a letter that scolded oil companies and threatened them with government action.

However, the Daily Caller reported that two oil industry trade groups answered with a letter of their own which argued that higher energy costs are partly the result of Biden’s own policies.

Oil companies point to the president’s role in hampering energy production

The joint letter was sent last Wednesday by The American Petroleum Institute (API) and American Fuel & Petrochemical Manufacturers (AFPM), and it laid out some of the factors that their industry must contend with.

The correspondence pointed out how “[r]efiners do not make multi-billion-dollar investments based on short-term returns.”

Rather, it explained that such businesses “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 letter continued.

Further, it also alleged that a recent drop in refining capacity is directly linked to Biden’s narrative surrounding fossil fuels.

“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 noted.

Chevron says the Biden administration “aims to impose obstacles” for oil industry

Those words were echoed in a statement provided to the Daily Caller News Foundation by Chevron spokesperson Bill Turenne.

“We understand the significant concerns around higher fuel prices currently faced by consumers around the country, and the world,” Turenne said.

“We share these concerns, and expect the Administration’s approach to energy policy will start to better reflect the importance of addressing them,” he went on to add.

“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,” Turenne complained.

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