US President Joe Biden on Tuesday ratcheted up his public back-and-forth with the US oil and gas industry as he looks to spread around the blame for the nation's soaring gas prices,
CNN reports.
After remarks on the authorization of Covid-19 vaccines for children under 5 years old, Biden was asked about a letter from the CEO of Chevron, which accused the President of seeking to vilify oil and gas producers as Americans struggle to fill their tanks and the White House faces increasing political pressure.
Biden responded: "He's mildly sensitive," adding: "I didn't know they'd get their feelings hurt that quickly."
The President has turned up the heat on oil and gas companies in recent weeks as gas prices have shot up, with the national average climbing above $5 per gallon at one point last week. Biden and his team have acknowledged in recent weeks that there is not much he can do to address the soaring prices, and the actions he has taken so far, such as a record-breaking release of oil from the country's strategic reserves, have not worked. Still, the President is considering other options and is expected to announce support for a federal gas tax holiday on Wednesday, according to two people briefed on the matter.
Biden has made Russia's war in Ukraine his top scapegoat for climbing gas prices but has also called out oil and gas companies, saying they aren't doing enough to bring down costs and accusing them of profiting off the war. He repeated some of those arguments on Tuesday, saying the country needs "more refining capacity."
"This idea that they don't have oil to drill and to bring up is simply not true," he said. "This piece of the Republicans talking about 'Biden shut down fields,' wrong. We ought to be able to work something out whereby they're able to increase refining capacity and still not give up on transitioning to renewable energy. They're both within realm of possibility."
