After the Democratic government of Joe Biden, after US filters made a decisive profit at the expense of drivers who pay high prices for gasoline, he took a more conciliatory tone after a meeting with the sector this Thursday, in which he called for increased production to reduce fuel prices.
However, the meeting ended without concrete solutions. The increase in rates at gas stations, symbolizes the general rise in prices in the United Stateserodes the popularity of the president, who for weeks has been actively trying to find solutions to lower the cost of a gallon of gasoline (3.78 liters).
Energy Secretary Jennifer Granholm “made it clear (to representatives from seven of the country’s major cleaners) that the government considers it vital for companies to increase their productionAccording to a summary of the meeting issued by his office.
They discussed other options, such as better preparing East Coast refineries for hurricane season. It was “the first step,” White House spokeswoman Karine Jean-Pierre said.
Clearly we want to find solutions and there will be different steps to take
The meeting was “constructive”, they only expressed themselves in the statement of the two organizations representing the sector, the API and the AFPM.
the president of the Philipps66 suggested Greg Garland “good start” and her Chevron peers, Mike Wirth, “constructive conversation.”
The Energy Secretary took a “collaborative tone from the outset, recognizing that the oil market is global in nature and that certain companies, including Shell, have reduced their refining capacity” to produce more biofuels, Shell’s president said. . SAM, Gretchen Watkins.
Biden has repeatedly urged filters to increase their production capacity, at a time when a gallon is at 5 dollars, a historic level.
Last week Joe Biden included ExxonMobil, Marathon, Valero and Shell in a letter asking to adopt filters. “immediate” measures to increase the production of gasoline, diesel and aircraft fuel.
It is not acceptable to get “historically high” profit margins by “paying Americans”, “the president then launched.
American refineries are operating at 94% of their capacity, very high level, withdrawing the API and the association that brings filters together, the AFPM.
Definition of contact:
Joe Biden went straight to national television and bragged about the depletion of the American Strategic Petroleum Reserve to its lowest point in 35 years. pic.twitter.com/aY02zHfDS4
– Councilor Fred Keller (@RepFredKeller) June 22, 2022
“If filters could produce more now, they would, looking at the incredible margins they can get,” Andrew Lebow, an energy sector specialist at Commodity Research Group consultancy, said ahead of the meeting.
Production may pick up a bit in the coming weeks.once some operational problems at its facilities are resolved, he said.
Oil prices were first hit by a sharp rise in demand following the Covid-19 pandemic, followed by sanctions imposed on Russia by Western powers after it invaded neighboring Ukraine on 24 February.
To reduce prices at gas stations, Joe Biden called on Congress on Wednesday to suspend a federal tax on gasoline at 18 cents a gallon for three months, an idea that has created skepticism among many experts who claim it will increase claim this measure. price during peak consumption season.
* With information from AFP
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