After President Joe Biden met with Saudi leaders abroad, U.S. 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.”
Gas prices actually have dropped by more than 45 cents per gallon in the past month; on July 17, AAA data show the national average price currently stands at $4.53. Diesel, which is used by many trucks and most trains, has dropped about 26 cents over the past month, but prices remain elevated at $5.54 per gallon….