Chevron CEO Says Biden Should Stop Criticizing Big Oil

Chevron Chief Executive Michael Wirth on Tuesday rebutted White House officials' criticism of the oil industry over energy costs, saying bringing down fuel prices will require "a change in approach" by the government.

The White House asked the CEOs of seven refiners and oil companies including Chevron to a meeting this week to discuss ways to reduce high energy prices. Wirth said he would attend.

"Your administration has largely sought to criticize, and at times vilify, our industry," Wirth said in a letter addressed to President Joe Biden. "These actions are not beneficial to meeting the challenges we face."
Wirth said the oil industry needs clarity and consistency on policy matters ranging from leases and permits on federal lands, to the ability to permit and build critical infrastructure and regulation that considers costs and benefits.

"We need an honest dialog," Wirth said. "One that recognizes our industry is a vital sector of the U.S. economy and is essential to our national security."…







read more: https://www.newsmax.com/finance/streettalk/chevron-oil-and-gas-industry-refining-energy-prices/2022/06/21/id/1075417/









This Reuters/Thomson article deals with the titanic struggle between our fine oil companies and the Biden regime. The oil companies are right in this instance. I’m glad that the CEO of Chevron fired back at the regime.

 

I’m going to have to go out and buy some more Chevron stock now that their CEO is calling out the Brandon regime.

 

Let me see here…should I believe a CEO who runs a multi billion dollar company that keeps America moving, or a guy who never had a real job in his life and lives in a fantasy world?

 

All this admin has is virtue signaling. They don’t actually make attempts to solve issues…they create them and virtue signal thier blame elsewhere.

 

big oil needs to lower prices or the government needs to take back all federal land leases and drill it themselves and then we can use the profits on the oil to pay off the debt

 

seems to me big oil wants to hurt America, why is that, why do they want to charge us such high prices, the right swore they would give us cheaper gas, they lied

 

"We need an honest dialog," Wirth said. "One that recognizes our industry is a vital sector of the U.S. economy and is essential to our national security."…

I agree, and if big oil can't handle it, the government needs to take it over, it's a matter of national security

the people are getting tired of big oil screwing us with high prices

they are making record profits right now, crazy!

 

So big oil wants to criticize Biden but have no issues taking oil subsidies.

 

or charging an arm and a leg to consumers

 

What subsidy are you talking about? Because a subsidy would by definition be a direct payment from the government. Not a tax law that for some reason allows them to keep their own money. There are several tax laws that apply to the oil industry -- so which specific ones are you claiming are a subsidy?

BTW, what is with the term "big oil" which sounds negative? Do you refer to the Biden administration as "big government?"

 

We had cheaper gas until Biden dicked with its supply.

 

How Marxist of ya. Funny how everything is always done under the banner of "national security". Targeting parents as "domestic terrorists" control of education, control of energy production....my my...leftists sure do love to follow Karl Marx's teachings. Yet always deny that is what they want. Until they slip up...then they deflect.

 

I’ll go with the first choice.

 

There is no way these companies are going to go out of their way to increase production just to lower their profits.

 

Think long term, if gas is so expensive that people get electric cars, then gas sales go down along with the profits.

 

You've bought the talking point of the Biden administration. Have you bothered looking into it or do you choose to believe whatever Biden tells you? Let's look.

https://www.convenience.org/Media/conveniencecorner/How-Much-Oil-Companies-Make-on-High-Gas-Prices

When you have a POTUS claiming his priority is to eliminate fossil fuels the petroleum industry has very little incentive to invest. Plus, without pipelines (Keystone) the method of transporting the oil to refineries to produce gasoline just went up with the use of gas guzzling trucks. Who do you think is gonna absord those costs?

 

No demands about the keystone pipeline false narrative I see.
So, ummm...told yall.

 

Biden wouldn't be able to stop oil if he tried. It's all on them. They have little incentive to invest because people are paying the price they charge now. The incentive to lower prices comes once Americans stop paying the asking price, and start using less of the stuff.

 

Ah, yes, if presidents never say a bad word about companies, they'll lower their prices. LOL! What a total and utter misunderstanding of the profit motive. Well, no surprise coming from the "tax cuts pay for themselves" crowd. Of course, back then, they wouldn't listen to the CEOs telling them that the corporate tax cuts wouldn't lead to more hiring. Now, when they can bash Biden, the CEO's word is king.

 

Consumption has already been declining and yet prices have continued to rise. Whenever there's less of something that will tend to also increase the cost of the commodity. Why do you think Biden is begging foreign oil producers to increase their output?

 

Has it been going up? come fall I bet prices are back down to high low 4, high 3 dollar range, with russias aggression carrying on.
If Russia backs off an rejoins the global market, we may even get back down to the 2 dollar range.

 

Somebody else already posted this:



So, why is it that the crude oil price has come down to almost the level before the Ukraine war started, but gas prices have remained high? Could it be that gas companies charge those prices because they can? Maybe consumers will have to teach them a lesson. Oh, of course, it is much easier to blame Biden for it and proclaim "Let's go Brandon". No consumption change needed.

 

Biden isn't doing enough to control prices in America. He should take governmental control over all business production in America and control the prices of goods and services. Sounds a little too much like socialism, though.
So let's criticize him for NOT doing that, because, well, we need someone to demonize, as the Republican plan is to, well, return to the mid 20th century, when life for white Americans was great! Other than that, go Brandon!
Kinda pathetic when you read that, isn't it?

 

Great plan! They'll need the drillers, new pipelines, and refineries too. That'll supply loads of well paying jobs for Americans.