Biden tells oil refiners: Produce more gas, fewer profits

Biden tells oil refiners: Produce more gas, fewer profits

FILE - An oil well works at sunrise Aug. 25, 2021, in Watford City, N.D., part of McKenzie County. U.N. Secretary-Antonio Guterres warned Tuesday, June 14, of a “dangerous disconnect” between what scientists and citizens are demanding to curb climate change, and what governments are actually doing about it. Guterres said the war in Ukraine risked worsening the crisis, because major economies were “doubling down on fossil fuels” that are to blame for much of the emissions stoking global warming. (AP Photo/Matthew Brown, File)

President Joe Biden is calling on U.S. oil refiners to produce more gasoline and diesel. In a draft letter to refiners, Biden says their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record high prices at the pump. Biden writes that the oil companies need to work with his administration to bring forward “near-term solutions that address the crisis.” Gas prices nationwide are averaging roughly $5 a gallon. That’s an economic burden for many Americans and a political threat for the president’s fellow Democrats going into the midterm elections. Biden’s message that corporate greed is contributing to higher prices might resonate with voters.

Photo: FILE – An oil well works at sunrise Aug. 25, 2021, in Watford City, N.D., part of McKenzie County. (AP Photo/Matthew Brown, File)