Chevron Hits Back, Says Biden Trying To "Impose Obstacles" To Energy Delivery
Chevron has hit back at the Biden administration, claiming that their policies since January 2021 have sent a message that it aims to "impose obstacles to our industry delivering energy resources the world needs," according to Bloomberg's Annmarie Hordern, citing a statement by the company.
Chevron says they plan to boost production in the Permian basin by more than 15% this year, while its overall upstream capital investments in the US have climbed 35% in the last year.
What's more, Chevron's US refineries are operational, and input grew to 915k b/d on average in Q1, vs 881k b/d the same quarter a year ago.
The statement comes after the Biden administration set out on a blame campaign - telling Americans that high prices at the pump are due to corporate greed by oil companies, and not his administration's haphazard energy policies. The new offensive included a letter to Big Oil execs threatening them with forced production quotas, windfall taxes, and/or price-caps.
The latest dust-up comes less than two weeks after Chevron CEO Mike Wirth told Bloomberg TV that there will "never be another refinery built in the US" thanks to the state of policies around the world towards fossil fuels.
https://www.zerohedge.com/political/chevron-hits-back-says-biden-trying-impose-obstacles-energy-delivery
https://www.zerohedge.com/political/chevron-hits-back-says-biden-trying-impose-obstacles-energy-delivery