Oil and gas industry responds to Biden's accusations. They are not impressed

This week, Joe Biden made a big deal out of sending a “warning letter” to U.S. refineries about their supposedly inflated profit margins this year. It was part of his strategy of attempting to blame the oil and gas industry for the high prices everyone is paying for gas, diesel, and heating oil. (At least when he’s not trying to blame Vladimir Putin.) In very short order, two associations representing different elements of the industry got together and sent a letter right back to the President. The American Fuel & Petrochemical Manufacturers (AFPM) joined with the American Petroleum Institute (API) in an effort to patiently explain to the president how the oil and gas industry actually works as well as the challenges they are currently confronting leading to significant supply-side issues. Whether this sinks in or not remains to be seen.

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