One of Biden’s first acts as president was to shut down the Keystone Pipeline and other drilling projects on federal land. He has continued showing hostility towards domestic drilling by cancelling and stopping leases. This trend has continued as prices have soared in 2022.
Earlier this week, Mike Wirth, CEO of Chevron, accused the Biden administration of intentionally “vilifying the gas and oil industry.” Biden responded by calling him “mildly sensitive” and accusing him of having hurt feelings.
After that quip, Biden said our nation needs “more refining capacity,” despite his administration shutting down opportunities to refine oil.
On June 14, Biden sent a letter to oil executives urging them to work with his administration while calling their profit margins “unacceptable.” While Wirth criticized Biden in response, he did agree to the meeting, reported RedState.
Wirth also discussed the challenges in working with the federal government.
“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.”
That plan includes restructuring regulations, designating infrastructure projects and reducing carbon taxes.
A meeting to discuss how to move forward will be hosted by Energy Secretary Jennifer Granholm. A time has not yet been set, but the letter primarily accuses Russian President Vladimir Putin for rising fuel costs. It also points to ongoing production issues stemming from the government’s response to COVID-19.
Biden has called soaring energy prices an opportunity to “make a fundamental turn toward renewable energy, electric vehicles, and across the board.”
However, experts believe those solutions are unlikely to come in the near future – and certainly not soon enough to provide relief for struggling American families.