Chevron CEO Michael Wirth has sent Joe Biden a letter with advice for his administration to lower energy prices for Americans.
The Daily Wire reports:
On June 15, President Joe Biden sent a letter to several major oil companies, demanding that the energy industry ramp up oil production and combat disruption to the market from Russia’s war in Ukraine by lowering prices for the American people. On Tuesday, Chevron’s CEO answered that demand with his own lengthy letter while saying the company hopes to have an “honest conversation” with the commander-in-chief.
Wirth’s letter noted that in 2021, “Chevron produced the highest volume of oil and gas in our 143-year history” and is currently investing $10 billion into green energy initiatives. Chevron then blasted the Biden administration for its anti-fossil fuel agenda.
“I want to be clear that Chevron shares your concerns over the higher prices that Americans are experiencing,” Wirth stated. “And I assure you that Chevron is doing its part to help address these challenges by increasing capital expenditures to $18 billion in 2022, more than 50% higher than last year.”
“Notwithstanding these efforts, your Administration has largely sought to criticize, and at times vilify, our industry,” Wirth remarked in his letter.
Wirth added, “These actions are not beneficial to meeting the challenges we face and are not what the American people deserve.” he added.
“We need clarity and consistency on policy matters ranging from leases and permits on federal lands, to the ability to permit and build critical infrastructure, to the proper role of regulation that considers both costs and benefits…. Many of these elements are described in our industry’s recently released 10-point plan.”