Biden Threatens Oil Firms: Increase Gasoline Production, Lower Prices ...Middle East

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Biden Threatens Oil Firms: Increase Gasoline Production, Lower Prices
source : OILPRICE ( Middle East ) () 6
Faced with record-high prices at the pump, U.S. President Joe Biden escalated the rhetoric against oil companies on Wednesday, telling them in a letter to produce more gasoline and lower gasoline bills for American consumers. “At a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable,” President Biden wrote in a letter to companies including ExxonMobil, Valero Energy, and Marathon Petroleum, seen by Reuters. “The lack of refining capacity - and resulting unprecedented…

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