Biden To Use Federal Government Tools To Increase Refinery Capacity

President Biden will continue his push against big oil and gas companies and refiners today by sending letters to executives of Marathon Petroleum, Valero Energy, ExxonMobil, Phillips 66, Chevron, BP, and Shell urges an increase in production and asking for ideas to solve refining capacity issues.

• Biden will tell the executives that he's "prepared to use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term."
• Biden: “Your companies need to work with my Administration to bring forward concrete, near-term solutions that address the crisis.. I have directed the Secretary of Energy to convene an emergency meeting on this topic and engage the National Petroleum Council in the coming days."
• The letter continues: "In advance of that, I request that you provide the Secretary with an explanation of any reduction in your refining capacity since 2020 and any concrete ideas that would address the immediate inventory, price, and refining capacity issues in the coming months...”