US president Joe Biden on Wednesday took aim at refiners for not producing more petrol, saying their rising profit margins “at a time of war” were “not acceptable”.
In letters sent to seven oil companies including ExxonMobil, BP, Shell and Valero, Biden called for “immediate actions” to supply more fuel, and said the administration was prepared to use “all reasonable and appropriate” tools to help increase supply in the near term.
Biden called on the refiners to explain why they had shut down some plants that make fuel, which had contributed to “an unprecedented disconnect between the price of oil and the price of gas”.
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