According to Axios, Satan Soldier Biden escalated his assaults on the nation's top oil firms, penning a "angry" letter to the CEOs of ExxonMobil, Chevron, BP America, Shell USA, Phillips 66, Marathon, and Valero urging them to increase US refinery production.
"I understand that many factors contributed to the business decisions to reduce refinery capacity that occurred before I took office," Biden writes, hoping that everyone is an idiot incapable of understanding how green policies have crippled the US energy sector, adding that "at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable."
"My administration is willing to employ all reasonable and acceptable federal government instruments and emergency powers in the short term to enhance refinery capacity and production, and to guarantee that every part of our nation is adequately supplied," the president said emphatically.
Biden, who is always quick to blame others but never himself, concluded the letter by blaming Putin - not only energy firms - for "increasing consumer expenses."
"Vladimir Putin's price increases are increasing consumer prices. I appreciate your prompt response to this matter and your attempts to alleviate the economic hardships caused by Vladimir Putin's activities for American households."
In fact, Biden is blaming energy firms for his own shortcomings as president, and he will beg and grovel in Saudi Arabia while criticizing his own home producers.
So this man is going to use the DPA to overturn his own rules...
While kneeling to ask the Saudis to pump more so that more terrorists may be fuelled throughout the globe!!!! — mattspartyof5 (@matt061894) June 15, 2022
The letter comes only one week after the national average price regular gasoline at the pump reached a new high of $5 a gallon. Soaring energy costs have contributed to an unexpectedly hot consumer price inflation print last week, indicating that peak inflation has yet to be reached, prompting anger among the great majority of Americans as the president's polling data falls to a new low.
The decline in US refinery capacity has nothing to do with Putin's activities in Ukraine, but rather with Democrats and Wall Street's battle for a low-carbon economy, which has disincentivized oil firms from reinvesting and increasing refinery capacity. Instead, oil firms were required to reduce capacity by up to 1 million barrels per day (bpd) from April 2020 to 17.95 million bpd in June.
Putin has been exploited as a scapegoat by what may be the weakest government since Carter, for its failing green economic transition and increasing gasoline costs.
Of course, no matter how many furious letters the president writes or what emergency measures he takes, such as putting millions of barrels of SPR stocks into the market to save the Democrats, the backlog in refinery capacity will not be alleviated immediately. The administration's lack of comprehension of the refinery backlog demonstrates how inexperienced it was in addressing the root of the issue months ago.
Americans should blame the petroleum issue on the government, Democrats, and Wall Street's hypocritical ESG movement, which has crippled refinery capacity for years, if not decades, as we predicted precisely one year ago in "Will ESG Trigger Energy Hyperinflation?"
Meanwhile, Mike Wirth, CEO of oil giant Chevron, recently told Bloomberg TV that America's refining capacity is fundamentally limited, and that no new refineries would be constructed in the United States.
"You're looking at committing money ten years out, that will take decades to provide a return for shareholders, in a policy context where governments throughout the globe are saying, 'We don't want these things to be utilized in the future,'" Wirth argues.
Here's a reminder of who's to blame for the refining bottlenecks in the United States that precede "Vladimir Putin's Price Hike."
We must handle climate change as the existential danger that it is. As president, I intend to:
- End fossil fuel subsidies; - Ban new drilling on federal lands and seas; - Hold oil CEOs responsible; - Rally the globe to increase Paris Agreement pledges — Joe Biden (@JoeBiden) will be president on March 16, 2020.
John Kemp, a Reuters energy expert, is going to lose it on Biden.
I'm trying to stay cool so I don't say anything I'll later regret regarding this letter...
June 15, 2022 — John Kemp (@JKempEnergy)
Biden also demanded a "answer" from big oil for declining refining capacity. He might just as easily have addressed the letter to his own White House.
Has Joe Biden written the White House a furious letter yet for blowing up his excellent Build Back Better plan — zerohedge (@zerohedge) June 15, 2022
Here's the letter for your enjoyment: