(PresidentialWire.com)- Joe Biden has threatened to deploy “emergency authorities” in letters to oil companies if they don’t increase oil production.
The letter was sent to oil corporations like Shell, BP, Chevron, Phillips 66, ExxonMobil, Marathon Petroleum Crop, and Valero Energy Corp.
In the letter, Biden says that his administration is willing to employ all reasonable and necessary Federal Government instruments and emergency authority to enhance refinery capacity and output in the near term and ensure that every region of this country is adequately supplied.
He also charges the businesses abusing Americans by maintaining “historically large profit margins.”
Additionally, he attributes historically high gas prices in the United States to Russia, a stale justification that almost no one outside his tiny group of handlers believes.
Biden writes that “without a doubt, Vladimir Putin is primarily to blame” for the severe financial hardship that the American people and their families are experiencing. However, amid a conflict that has caused gas prices to increase by more than $1.70 per gallon, historically high refinery profit margins are making the situation worse.
The letters follow remarks made by Biden’s press secretary in which he accused the oil industry of failing to perform its “patriotic duty” and produce more.
Exxon Mobil reacted to Biden by denouncing his attempts to hold them accountable for his unsuccessful energy policy.
According to a press release from the company, they have regularly contacted 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. 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.
Is it any surprise that some in the oil business are upset that Biden has suddenly placed the blame for rising prices on them after he has spent the last two years working to shut them down?
Leading industry figures have referred to Biden and his aides’ repeated claims that oil companies are not making use of the roughly 9000 drilling licenses as “misinformation.”
Just one day after his climate czar John Kerry said that drilling for additional oil and gas is “absolutely not” necessary, Biden threatened to force oil firms to produce more.
This administration is lost. And we lose as a result.