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Chevron responded Tuesday to President Joe Biden, urging him to work with oil companies and not “demonize” them.
Last week, Biden sent letters to executives of seven oil majors demanding immediate action in a historically expensive environment fueled in part by general inflation.
The president has criticized the profit margins of the oil companies and even accused ExxonMobil, the country’s largest company, of not using the land it has leased to produce energy in order to keep production low.
Chevron CEO Mike Wirth responded to Biden today by attributing the rise in prices to a market imbalance exacerbated by the Russian invasion of Ukraine and reproached him for generally seeking to criticize, and sometimes demonize, his industry.
In addition, Wirth invited the White House to change its approach and bring more clarity and consistency to the regulation of leases and permits on federal land needed for his business.
Asked about Chevron’s response, Biden considered mocking the company’s executive council as somewhat sensitive.
Chevron’s letter follows on the heels of one sent by ExxonMobil to Biden a few days ago, in which the oil company asked the government for better leasing policies, infrastructure regulation, and, in the short term, emergency measures.