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Message
re: UPDATED: US Big Oil Fires Back @ Slanderous White House
Posted on 6/22/22 at 11:48 am to Klark Kent
Posted on 6/22/22 at 11:48 am to Klark Kent
UPDATE:
On Tuesday, Chevron’s CEO, Michael Wirth, responded to President Biden's letter last week demanding that the energy industry ramp up oil production to help lower gas prices. Wirth answered that demand with the following letter:
Certainly seems like Chevron and Exxon have put out an olive branch to the Biden administration that they are more than willing to work together to aid the American people, despite the administration's egregious attacks against O&G to the press and the dozens of actions the administration has taken directly or indirectly signed off on harming the US O&G Companies. LINK
How did the Biden Administration respond you ask? LINK
How exactly are the big bad greedy O&G companies going to increase their refining capacity when they are already at max capacity? Expand? Build a new facility? Why make a massive investment to bail you out - when this administration would turn around force it to be shut down 2 years from now?
Also, Biden said in this interview he himself will not be attending the sit down with the O&G executives this week, but will be sending his top advisors. LINK (starts @ 6:55 mark, runs to 8:26). He also took the opportunity to double down on on our "transition" to renewable energy:
I'm sure glad the "adults are back in charge". Cheaper gas prices are surely right around the corner.
On Tuesday, Chevron’s CEO, Michael Wirth, responded to President Biden's letter last week demanding that the energy industry ramp up oil production to help lower gas prices. Wirth answered that demand with the following letter:
quote:
Dear Mr. President:
Thank you for your letter dated June 14, 2022. As industry leaders, academic experts and numerous policy makers have pointed out, there are no easy fixes nor any short-term answers to the global supply and demand imbalances aggravated by Russia’s invasion of Ukraine. Addressing this situation requires thoughtful action and a willingness to work together, not political rhetoric. I look forward to meeting with Secretary Granholm and am hopeful for a constructive conversation about actions to address both near-term issues and the longer-term stability of energy markets.
In 2021, Chevron produced the highest volume of oil and gas in our 143-year history. In the first quarter of 2022, our U.S. production was 1.2 million barrels per day, up 109,000 barrels per day from the same quarter a year earlier. In the Permian Basin alone, we expect production to approach 750,000 barrels per day by the end of the year, an increase of more than 15 percent from 2021. And Chevron’s U.S. refinery input grew to 915,000 barrels per day on average in the first quarter of this year from 881,000 in the same quarter last year.
In addition to increasing American oil and gas production, Chevron is also investing $10 billion to reduce greenhouse gas emissions and scale new advanced energy technologies, like carbon capture and hydrogen, along with growing our renewable liquid fuels production capacity to 100,000 barrels/day by 2030. America will lead in these critical new industries, creating jobs at home and exporting them to the world to meet energy and climate objectives.
American oil and gas supplies are among the most efficient, responsibly produced, and lowest carbon intensity supplies in the world. At roughly 15 kg of CO2-equivalent per barrel, Chevron’s Permian Basin carbon intensity is some two-thirds lower than the global industry average. U.S. Gulf of Mexico production has carbon intensity just a fraction of the global industry average. Increasing American production will offset barrels produced in other parts of the world that may not support America’s energy security, economic competitiveness, or environmental goals.
I want to be clear that Chevron shares your concerns over the higher prices that Americans are experiencing. 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.
Chevron and its 37,000 employees work every day to help provide the world with the energy it demands and to lift up the lives of billions of people who rely on these supplies. Notwithstanding these efforts, your Administration has largely sought to criticize, and at times vilify, our industry. These actions are not beneficial to meeting the challenges we face and are not what the American people deserve.
While today’s geopolitical situation is contributing to this energy crisis, bringing prices down and increasing supply will require a change in approach. You have called on our industry to increase energy production. We agree. Let's work together. The U.S. energy sector needs cooperation and support from your Administration for our country to return to a path toward greater energy security, economic prosperity, and environmental protection.
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. Most importantly, we need an honest dialogue on how to best balance energy, economic, and environmental objectives – one that recognizes our industry is a vital sector of the U.S. economy and is essential to our national security.
We can only meet these challenges by working together. Chevron will engage in this week’s meeting with Secretary Granholm. I encourage you to also send your senior advisors to this meeting, so they too can engage in a robust conversation. Your “whole of government” philosophy in addressing major issues should apply here too, as a comprehensive approach is best to address the energy needs of our nation and of our allies.
The American people rightly expect our country’s leaders and industry to address the challenges they are facing in a serious and resolute manner. We are a willing partner in that endeavor and trust your Administration will be the same.
Sincerely,
Michael K. Wirth
Chairman of the Board and Chief Executive Officer
Certainly seems like Chevron and Exxon have put out an olive branch to the Biden administration that they are more than willing to work together to aid the American people, despite the administration's egregious attacks against O&G to the press and the dozens of actions the administration has taken directly or indirectly signed off on harming the US O&G Companies. LINK
How did the Biden Administration respond you ask? LINK
quote:
“He’s mildly sensitive,” Biden said. “I didn’t know they’d get their feelings hurt that quickly. Look, we need more refining capacity. This idea that they don’t have oil to drill and to bring up is simply not true.”
“We ought to be able to work something out whereby they’re able to increase refining capacity and still not give up on transitioning to renewable energy,” Biden continued. “They’re both within realm of possibility.”
How exactly are the big bad greedy O&G companies going to increase their refining capacity when they are already at max capacity? Expand? Build a new facility? Why make a massive investment to bail you out - when this administration would turn around force it to be shut down 2 years from now?
Also, Biden said in this interview he himself will not be attending the sit down with the O&G executives this week, but will be sending his top advisors. LINK (starts @ 6:55 mark, runs to 8:26). He also took the opportunity to double down on on our "transition" to renewable energy:
quote:
"My mother had an expression: out of everything lousy, something good will happen. We have a chance to make a fundamental turn toward renewable energy, electric vehicles, and across the board."
I'm sure glad the "adults are back in charge". Cheaper gas prices are surely right around the corner.
This post was edited on 6/22/22 at 11:51 am
Posted on 6/22/22 at 12:03 pm to Klark Kent
I'd also like to point out that for someone criticizing a detailed response letter from a CEO as "sensitive". The Leader of the Free World, Commander in Chief, and the President of the United States sure does seem sensitive about being asked questions about a looming recession in that same interview.
LINK
(5:30 mark)
LINK
(5:30 mark)
quote:
Reporter: economists are saying a recession is more likely than ever
Biden: Not the majority of them aren't saying that. C'mon don't make things up. Okay? Now you're sounding like a Republican politician. I'm joking. That was a joke.
Posted on 6/22/22 at 12:05 pm to Klark Kent
What a fricking piece of shite.
Posted on 6/22/22 at 12:17 pm to Klark Kent
quote:
Biden said in this interview he himself will not be attending the sit down with the O&G executives this week, but will be sending his top advisors. LINK (starts @ 6:55 mark, runs to 8:26). He also took the opportunity to double down on on our "transition" to renewable energy:
pretty fricked up by the oil executives to schedule a meeting during Matlock
Posted on 6/22/22 at 12:21 pm to Dire Wolf
his schedule is pretty tight considering he's on a 2 nap a day routine. my 15 month old is down to just 1 nap a day, but like the president is a big fan of apple sauce pouches.
Posted on 6/22/22 at 1:09 pm to Centinel
Not sure if it’s possible, but Congress needs to determine whether there’s a way to limit Executive Orders. This whipsawing back and forth between strategies does nothing but cause confusion and is left in the hands of bureaucrats. I’m convinced that they just slide documents in front of him to sign and he has no clue what they say.
Posted on 6/22/22 at 1:20 pm to Free888
Posted on 6/22/22 at 1:25 pm to Klark Kent
quote:
Now, you may be asking yourself "What is Chevron and Exxon talking about when they this administration has 'imposed obstacles' to the US O&G industry since Day1?"
No, I'm asking myself, "Why don't they allow drilling off of Florida's coast?"
A ban on offshore drilling in Florida was extended to 2032 by former President Donald Trump in 2020.
Posted on 6/22/22 at 1:41 pm to WildTchoupitoulas
seriously?
i list 80 actions the Biden administration has taken in a year and a half to hurt the industry and link you to several occasions where he's unfairly lashed out and slandered the industry - all to prove him fulfilling his campaign promise to "end the fossil fuel industry". and this is the best you can come up with?
anything to defend your political tribe.
i list 80 actions the Biden administration has taken in a year and a half to hurt the industry and link you to several occasions where he's unfairly lashed out and slandered the industry - all to prove him fulfilling his campaign promise to "end the fossil fuel industry". and this is the best you can come up with?
anything to defend your political tribe.
This post was edited on 6/22/22 at 1:43 pm
Posted on 6/22/22 at 1:44 pm to Klark Kent
Your average Dem truly thinks this is purely Putin/Oil companies fault. Crazy
This post was edited on 6/22/22 at 1:52 pm
Posted on 6/22/22 at 1:52 pm to Klark Kent
quote:
seriously?
Seriously.
quote:
i list 80 actions the Biden administration has taken in a year and a half
Exactly, why are you ignoring years and years of policy by several politicians at many levels?
quote:
this is the best you can come up with?
It must be pretty good for you not to be able to answer it.
quote:
anything to defend your political tribe.
Ironic seeing as how I don't have a political tribe (note I'm not actually defending anyone) and you didn't even answer my question.
I get it, I get it, everything bad is the potato's fault.
But still, why can't we drill, baby, drill off the coast of Florida? And why is it verboten to even ask?
Posted on 6/22/22 at 2:00 pm to WildTchoupitoulas
The same reason we don't drill off the coast of California or the East Coast. State level opposition and a recognition that the likely resources in those locations don't outweigh the impact to local industries. Contrast that with the Deepwater GOM that we know contains large volumes of untapped resources but Bidens admin has still ridiculously blocked access to new lease sales. In some places it makes sense and it works and others it doesnt. Trump blocked only the latter, Biden is blocking all.
Posted on 6/22/22 at 2:08 pm to WildTchoupitoulas
another post you should’ve put more thought into
Posted on 6/22/22 at 2:16 pm to Coach Buzzcut
Whoever the one down vote was...meet me at Sonic
Posted on 6/22/22 at 2:16 pm to lsugradman
quote:
a recognition that the likely resources in those locations don't outweigh the impact to local industries.
Yeah, I'd like to see that analysis.
The fact is that we could unlock an awful lot of production if we started drilling off of Florida and California. But we'd rather ignore that reality and focus on immediate political attacks.
quote:
Biden is blocking all.
...Like that.
Biden isn't actually blocking "all", he just doesn't have a comprehensive policy (or even a coherent policy):
Why the Biden administration is reopening oil and gas leasing in the Gulf of Mexico, November 17, 2021
Biden Plans to Open More Public Land to Drilling, April 15, 2022
Drill, baby, drill!*
*Except where it may hurt me politically.
Posted on 6/22/22 at 2:26 pm to WildTchoupitoulas
Biden has blocked a lease sale in Alaska and the GOM. The only reason the GOM got reopened is because a judge ruled his admin couldnt legally block lease sales. Another judge then invalidated the latest lease sale and his admin is totally OK with that.
Laugh all you want but the BOEM, USGS, and Majors do these sorts of basin analysis all the time. Clearly you know jack squat about this energy industry bc you are laughing at simple facts and also blowing off article after article of how Biden has blocked the industry from domestic production
Laugh all you want but the BOEM, USGS, and Majors do these sorts of basin analysis all the time. Clearly you know jack squat about this energy industry bc you are laughing at simple facts and also blowing off article after article of how Biden has blocked the industry from domestic production
Posted on 6/22/22 at 2:27 pm to dawgfan24348
quote:
All of them are big arse monopolies the difference is you want to shill for one of them because it will own the libs. Oil companies already admitted to being able to drill more but they refuse to and it’s pretty obvious they’re price gouging us when they keep reporting record profits.
Cool, now explain the 42 years since Carter, where we've experienced reasonable gas prices. Did the oil companies just all of a sudden decide to frick over the Potato?
Clown.
This post was edited on 6/22/22 at 2:40 pm
Posted on 6/22/22 at 2:32 pm to lsugradman
quote:
you are laughing at simple facts and also blowing off article after article of how Biden has blocked the industry from domestic production
It's pretty amazing the leftists keep denying Biden is hurting our energy policy. He fricking campaigned on it. The left's goal, and they are not shy about admitting it, is that climate change is a dire threat, thus no more oil and gas. They are even touting how awesome their $64k electric cars are, and all of us pours that can't afford gas should just buy electric.
This is 100% a Democrat owned catastrophe that is backed up with YEARS of sound clips. But don't take my word for it, take POTATUS' word for it.
Biden Campaign Promises
Posted on 6/22/22 at 2:35 pm to BugAC
quote:
It's pretty amazing the leftists keep denying Biden is hurting our energy policy. He fricking campaigned on it. The left's goal, and they are not shy about admitting it, is that climate change is a dire threat, thus no more oil and gas. They are even touting how awesome their $64k electric cars are, and all of us pours that can't afford gas should just buy electric.
Judging from Biden's polling, the American public is seeing right through their BS.
Posted on 6/22/22 at 2:35 pm to dawgfan24348
quote:
Oil companies already admitted to being able to drill more but they refuse to and it’s pretty obvious they’re price gouging us when they keep reporting record profits.
Please link article where companies admitted to being "able to drill more but not wanting to" bc muhhh $$
Also would love for you to explain how companies like Exxon and Chevron, who produce less than 4% of total global production and who lost billions of $ and thousands of employees ...can possibly "price gouge"
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