After President Joe Biden met with Saudi leaders abroad, American oil producers said that the federal government should stop targeting the industry.
“In spite of … attempts to limit supply, we’re doing everything we can to increase our production,” Tall City Exploration President and CEO Mike Oestmann told Fox Business. “We’re spending all the money that we make. We’re putting it right back in the ground with the addition of the bank borrowing that we’re doing.”
Although gas prices have dropped by more than 45 cents per gallon since one month ago, as of Sunday AAA data show the average price currently stands at $4.53 per gallon. Diesel, which is used by many trucks and most trains, dropped about 25 cents over the past month, but prices remain elevated at $5.54 per gallon….