Biden says he has little sympathy for the oil companies and that they need to increase production.
WASHINGTON — In a pointed back and forth, the head of Chevron complained Tuesday that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was being “mildly sensitive.”
Chevron is investing in more production, Wirth wrote, but “your Administration has largely sought to criticize, and at times vilify, our industry. These actions are not beneficial to meeting the challenges we face and are not what the American people deserve.”“Let’s work together,” Wirth wrote. “The American people rightly expect our country’s leaders and industry to address the challenges they are facing in a serious and resolute manner.”“He’s mildly sensitive,” Biden said.
The clash between the Biden administration and oil producers and refiners unfolded ahead of a Thursday meeting that Energy Secretary Jennifer Granholm will hold with energy companies. The House has approved legislation to crack down on alleged price gouging by oil companies, but the bill has stalled in the Senate. Democratic proposals to impose a “windfall profits” tax on oil producers have generated little support in Congress.
“We have a classic supply-and-demand challenge,” Cornell told the audience. “In all due respect, the gas holiday is only going to fuel demand. It’s doing nothing to increase the supply.”
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