President Joe Biden is looking to jawbone U.S. oil companies into boosting gasoline and diesel supply amid soaring prices, calling on executives to expand refining capacity while blasting refiners for enjoying record profits while American drivers face pain at the pump.
Biden made the remarks in a letter to oil executives seen by The Epoch Times, in which the president demanded an explanation for any oil refining capacity cuts they had made since 2020 while alleging that they had cut back on refining to bolster bottom lines.
“I understand that many factors contributed to the business decisions to reduce refinery capacity,” Biden wrote. “But at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable.”…