Biden Calls Out , Oil Refiners for High Profit Margins , and Record Prices at the Pump.<br />Biden Calls Out , Oil Refiners for High Profit Margins , and Record Prices at the Pump.<br />Al Jazeera reports that <br />President Joe Biden has called on <br />oil refiners to increase production. .<br />Al Jazeera reports that <br />President Joe Biden has called on <br />oil refiners to increase production. .<br />The appeal was made via a letter to major <br />refining companies, including Exxon Mobil, <br />Chevron, Shell and British Petroleum.<br />The appeal was made via a letter to major <br />refining companies, including Exxon Mobil, <br />Chevron, Shell and British Petroleum.<br />Biden claimed that the oil refiners' high profit margins <br />were hurting consumers and blamed<br />Russia's invasion of Ukraine for rising prices.<br />Biden claimed that the oil refiners' high profit margins <br />were hurting consumers and blamed<br />Russia's invasion of Ukraine for rising prices.<br />The crunch that families are<br />facing deserves immediate action. <br />Your companies need to work with <br />my Administration to bring forward <br />concrete, near-term solutions <br />that address the crisis, Joe Biden, President of the United States, via Al Jazeera.<br />The crunch that families are<br />facing deserves immediate action. <br />Your companies need to work with <br />my Administration to bring forward <br />concrete, near-term solutions <br />that address the crisis, Joe Biden, President of the United States, via Al Jazeera.<br />In the United States, gas prices have <br />reached an average of about $5 a gallon, <br />the highest-ever recorded price.<br />On June 10, the U.S. government reported that <br />consumer prices have risen 8.6% since last year, <br />the highest increase in over 40 years.<br />Biden's letter to oil producers reportedly describes the “unprecedented disconnect” between the cost of refining and the high price consumers pay at the pump.<br />Biden's letter to oil producers reportedly describes the “unprecedented disconnect” between the cost of refining and the high price consumers pay at the pump.<br />Since the beginning of the year, <br />refiners’ margins for refining gasoline <br />and diesel have tripled, and are currently<br /> at their highest levels ever recorded, Joe Biden, President of the United States, via Al Jazeera.<br />Since the beginning of the year, <br />refiners’ margins for refining gasoline <br />and diesel have tripled, and are currently<br /> at their highest levels ever recorded, Joe Biden, President of the United States, via Al Jazeera.<br />According to the letter, the U.S. government is ready to , “use all reasonable and appropriate Federal Government <br />tools and emergency authorities to increase refinery <br />capacity and output in the near term, and to ensure that <br />every region of this country is appropriately supplied.”.<br />According to the letter, the U.S. government is ready to , “use all reasonable and appropriate Federal Government <br />tools and emergency authorities to increase refinery <br />capacity and output in the near term, and to ensure that <br />every region of this country is appropriately supplied.”.<br />Biden also reportedly called on Energy Secretary Jennifer Granholm to convene an emergency meeting with the National Petroleum Council. .<br />Biden also reportedly called on Energy Secretary Jennifer Granholm to convene an emergency meeting with the National Petroleum Council.
