Biden Is Blaming Everyone but Himself for His Gas Crisis

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According to upstream online dot com, in a letter sent in June to a list of companies including ExxonMobil Chevron Shell, Phillips 66 Marathon Petroleum of BP, Biden chastised the companies. He said at a time of war, historically high refinery profit margins being passed directly onto American families are not acceptable. But Chevron called for policies that underpin continued investment in oil and gas rather than the obstructive approach that Joe Biden has been using thus far. The oil companies then sent a written statement out, they said, we want to underscore the U.S. refineries are running at high utilization rates. Refinery capacity expansion is a long-term proposition given permitting engineering design capital cost estimates and equipment procurement. So the idea that they can just ramp up production is not true. But Joe Biden has to find somebody to blame for his own bad policy. And so, of course, he spent the last several months up to a year blaming everybody but himself. In October of 2021, remember, as of October of 2021, you were already looking at gas prices that were hovering just under three bucks and 50 cents per gallon. And so it already risen by well over a dollar under Joe Biden. At that point, Joe Biden said the gas prices would come down. They did not. Do you have a timeline for gas prices of when do you think they may start coming down? My guess is you'll start to see gas prices come down as we get by going into the winter. I mean, excuse me, in the next year, 2022. Oh, midwinter to the next. Oh. Has that been happening right now? Then Joe Biden blamed OPEC for the high gas prices. This is November of 2021. If you take a look at gas prices and you take a look at oil prices. That is a consequence of thus far. The refusal of Russia or the OPEC nations to pump more oil. Oh, by the way, there's November. That was well before the Ukraine war is blaming OPEC.

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