Joe Biden merely refuses to just accept any duty for rising fuel costs. His insurance policies are inflicting it however he simply can’t or gained’t admit it.
As an alternative, he has lashed out at all the things and everybody else. First it was the pandemic, then it was Russia, now it’s the oil firms.
Biden just lately despatched a letter to grease firms accusing them of profiteering, however one firm has fired again.
ExxonMobil ‘Comes Out Swinging’ in Response to Biden’s Letter to Oil Corporations
ExxonMobil pushed again towards the accusations President Biden lobbed towards oil firms in his letter to executives this week.
The corporate stated it has “invested greater than another firm to develop U.S. oil and fuel provides” at a value of greater than $50 billion within the final 5 years. These investments have led to an almost 50 % enhance within the firm’s U.S. manufacturing.
“Globally, we’ve invested double what we’ve earned over the previous 5 years — $118 billion on new oil and fuel provides in comparison with internet revenue of $55 billion,” the corporate stated in a press release. “This can be a reflection of the corporate’s long-term progress technique, and our dedication to constantly make investments to satisfy society’s demand for our merchandise.”…
“Particular to refining capability within the U.S., we’ve been investing by means of the downturn to extend refining capability to course of U.S. mild crude by about 250,000 barrels per day – the equal of including a brand new medium-sized refinery,” the assertion stated. “We saved investing even through the pandemic, once we misplaced greater than $20 billion and needed to borrow greater than $30 billion to take care of funding to extend capability to be prepared for post-pandemic demand.”
Good for them for talking up.
Exxon comes out swinging! pic.twitter.com/NRMqgd3Ho0
— Eric Nuttall (@ericnuttall) June 15, 2022
Biden has been such a mendacity hypocrite on this difficulty.
WH begs oil cos to enhance scenario.
Can we drill? We’d slightly you not.
Can we construct a refinery? We’d slightly you not.
Can we construct a pipeline? We’d slightly you not.
Simply make it higher. https://t.co/DBfpBu1mL3
— Patrick De Haan ⛽️📊 (@GasBuddyGuy) June 15, 2022
He has been railing towards oil firms because the 2020 marketing campaign.
Joe Biden in 2020: “No extra subsidies for the fossil gas business. No extra drilling together with offshore. No means for the oil business to proceed to drill interval. It ends.” pic.twitter.com/90MVJevPmv
— Dan O’Donnell (@DanODonnellShow) March 8, 2022
All Biden must do is reverse a few of his vitality insurance policies.
He refuses to do it.
Cross posted from American Lookout.