The nation’s largest oil companies have solutions for how to lower the price of their commodity and thus lower the prices of gasoline and diesel fuel, among others, and have sent their ideas to the White House.
And what did they get in response? A president who mocked them.
Less than a week after Joe Biden accused the oil companies (again) of gouging customers despite the fact that oil is a publicly-traded commodity with prices dependent on market conditions and government policies, among other factors, they got together to produce some solutions they believe will help bolster supply and provide relief at the gas pumps so suffering Americans paying record prices can get some relief.
Chevron CEO Michael Wirth said this week that his company’s mission was to “work every day to help provide the world with the energy it demands and to lift up the lives of billions of people who rely on these supplies.”
“Chevron and its 37,000 employees work every day to help provide the world with the energy it demands and to lift up the lives of billions of people who rely on these supplies,” Wirth said.
He added that Chevron wants to assist the Biden administration in fighting soaring fuel costs, but that the administration “has largely sought to criticize, and at times vilify, our industry,” which is 100 percent true.
“These actions are not beneficial to meeting the challenges we face and are not what the American people deserve,” he wrote, according to The Daily Wire.
“We need clarity and consistency on policy matters ranging from leases and permits on federal lands, to the ability to permit and build critical infrastructure, to the proper role of regulation that considers both costs and benefits. Many of these elements are described in our industry’s recently released 10-point plan,” Wirth said.
Biden’s response? He mocked the CEO, saying that “he’s mildly sensitive.”
“I didn’t know they’d get their feelings hurt that quickly. Look, we need more refining capacity. This idea that they don’t have oil to drill and to bring up is simply not true,” Biden continued, obviously missing Wirth’s point that in order to be able to build new multi-billion-dollar refining capacity the industry has to have government assurances that it won’t be for nothing (as Biden continues to blindly pursue ‘green’ vehicle initiatives).
“We ought to be able to work something out whereby they’re able to increase refining capacity and still not give up on transitioning to renewable energy,” Biden continued. “They’re both within realm of possibility.”
Biden’s remarks come after Mike Sommers, president and CEO of the American Petroleum Institute (API), the only national trade association that represents all aspects of America’s oil and natural gas industry, released a 10-point plan to combat the rising costs of oil and the fuels produced from it.
In addition, Sommers pointed out that Biden’s insane energy policies have, in large part, caused the spikes in oil prices.
“Your administration has restricted oil and natural gas development, canceled energy infrastructure projects, imposed regulatory uncertainty, and proposed new tax increases on American oil and gas producers competing globally,” Sommers said in a letter. “Respectfully, the American people need a different direction to solve this crisis.”
Elements of the 10-point plan include:
- Lift Development Restrictions on Federal Lands and Waters
- Designate Critical Energy Infrastructure Projects
- Accelerate [Liquified Natural Gas] Exports and Approve Pending LNG Applications
- Advance Lower Carbon Energy Tax Provisions
- End Permitting Obstruction on Natural Gas Projects
Former top Trump economic adviser Larry Kudlow has warned that the Biden will cause the loss of tens of millions of jobs — not hyperbole — if he completely shuns fossil fuels, which his extreme left-wing Democratic base wants him to do.
“Yeah, quiet part out loud. Defending essentially high gasoline prices. As you know, oil is at $120 a barrel today. I just want to tell you, any so-called transition to a green economy that ends fossil fuels would be an economic catastrophe,” Kudlow told Fox News earlier this month.
“It would be a permanent recession. We couldn’t possibly do that or afford that. The job losses would be in the tens of millions. I am not exaggerating. A lot of first-rate economists have made the same point of view. So I’m leery of this transition,” Kudlow added.