President Joe Biden sent a letter to oil companies on Wednesday threatening to use the tools and “emergency authorities” of the federal government to make them increase oil output and lower gas prices.
“At a time of war – historically high refinery profit margins being passed directly onto American families are not acceptable,” wrote Biden in the letter.
?[C]ompanies must take immediate actions to increase the supply of gasoline, diesel, and other refined product,” he added.
The letter was sent to oil companies including Exxon Mobil, Shell, BP, and Chevron.
Biden added that the administration was ready to use “all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term.”
He went on to point out an “unprecedented disconnect” between the price of gas and the price of oil.
“Since the beginning of the year, refiners’ margins for refining gasoline and diesel have tripled, and are currently at their highest levels ever recorded,” he wrote in the letter.
Biden’s approval rating continues to plummet as Americans blame his green energy policies for exacerbating the oil crisis. His unpopularity is a further problem for Democrats who face devastating losses in the upcoming midterm elections.
“The crunch that families are facing deserves immediate action. Your companies need to work with my Administration to bring forward concrete, near-term solutions that address the crisis,” Biden claimed.
The administration has attempted to blame Russian Federation President Vladimir Putin for gas prices, but that has fallen on the deaf ears of Americans suffering from high inflation.
Many critics of the Biden administration have noted that he has previously threatened to end the oil industry entirely before being forced to ask for its help after gas prices skyrocketed.
Here’s more about Biden’s threats to the oil companies:
Biden demands oil companies explain lack of gas