Tipsheet

Here's a Long List of Things Biden Could Be Doing to Ramp Up Oil Production

Katie Pavlich
Katie Pavlich  |  June 16, 2022 3:30 PM

After pledging to end the oil and gas industry during his 2020 campaign, President Joe Biden sent a letter to executives from a number of oil companies this week and demanded they do more to decrease gas prices in the United States. His administration is also calling companies unpatriotic. 

The American Petroleum Institute responded to Biden's letter while reminding him of the essential value of the oil industry. 

"The U.S. refining industry is one of the safest and most efficient in the world, operating among the highest environmental standards. We are committed to reliably meeting Americans’ energy demands and keeping the market well supplied in this moment and for decades to come," API said in a letter to the White House. "Our industry is dedicated to providing affordable, reliable, and sustainable fuels and other petroleum products for Americans and our global allies, as we have done for decades, including throughout the COVID pandemic when many of our companies experienced enormous financial losses."

API has also given the White House a long list of policy changes they need to fulfill Biden's request, which is focused on prioritizing and unleashing domestic supply. 

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So far, these ideas have been rejected. 

Meanwhile, President Biden continues to deplete the Strategic Petroleum Reserve with no decrease in gas prices to show for it.