President Joe Biden has attempted to deflect blame for high fuel prices at oil companies, but it turns out oil companies are already operating at capacity, and once again, the President’s war on oil production has come into the spotlight.
A report from The Energy Information Administration found that “We estimate U.S. refinery inputs will average 16.7 million b/d during the second and third quarters of 2022. This average is lower than the 2019 refinery inputs average of 17.3 million b/d despite high utilization rates because of reductions in refinery capacity since early 2020. U.S. refinery capacity has fallen by almost 1.0 million b/d since early 2020 because several refineries were closed or converted.”
President Biden campaigned on waging war against fossil fuels, which largely explains the reduction in fuel refining capacity that the report mentions.
The American Petroleum Institute called out President Biden for dodging responsibility for record gas prices saying, “While we appreciate the opportunity to open increased dialogue with the White House, the administration’s misguided policy agenda shifting away from domestic oil and natural gas has compounded inflationary pressures and added headwinds to companies’ daily efforts to meet growing energy needs while reducing emissions.”
President Biden made a mistake when he thought he could fool Americans into believing that oil companies were responsible for the record-high fuel prices that are destroying American budgets.
The President’s deception has failed, and his refusal to accept responsibility for this crisis will no doubt cost the Democrat Party in the upcoming midterm elections.
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