{"id":1556229,"date":"2022-07-15T11:34:38","date_gmt":"2022-07-15T15:34:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1556229"},"modified":"2022-07-15T11:34:40","modified_gmt":"2022-07-15T15:34:40","slug":"chevron-ceo-responds-to-bidens-allegations-of-price-gouging","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chevron-ceo-responds-to-bidens-allegations-of-price-gouging\/","title":{"rendered":"Chevron CEO Responds to Biden\u2019s Allegations of Price Gouging"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchevron-ceo-responds-to-bidens-allegations-of-price-gouging%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1556229&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.theepochtimes.com\/t-chevron\">Chevron<\/a>\u2019s CEO asserted that the oil industry isn\u2019t attempting to hold back supply, rejecting allegations made by the Biden administration in recent weeks amid record-high gas prices.<\/p>\n<p>\u201cPeople are not holding back supply. People are not slow-walking anything\u2014they\u2019re producing as much in the refining system as possible,\u201d CEO Mike Wirth told <a href=\"https:\/\/www.foxbusiness.com\/markets\/chevron-ceo-responds-bidens-price-gouging-accusations\">Fox Business<\/a> on Thursday in reference to the oil industry.<\/p>\n<p>President <a href=\"https:\/\/www.theepochtimes.com\/t-joe-biden\">Joe Biden<\/a> and other White House officials have accused the oil industry of slow-walking production in a bid to keep prices high. The Biden administration sent a letter to Chevron, ExxonMobil, BP, and other top producers last month, suggesting the federal government could take executive action.<\/p>\n<p>According to Friday <a href=\"https:\/\/gasprices.aaa.com\/\">data<\/a> released by auto club AAA, the average price for a gallon of gasoline is currently $4.57, down nearly 50 cents from a month ago when prices stood a $5 per gallon.<\/p>\n<p>\u201cUpstream production is growing and that\u2019s how the market works,\u201d Wirth said. \u201cThe price signal, when it reaches this level in a commodity business\u2014and look, we\u2019re price takers, we see high prices say \u2018consume less, produce more\u2019\u2014that\u2019s exactly what\u2019s underway right now. And I think it\u2019s part of the reason why we\u2019re seeing prices come down.\u201d<\/p>\n<p>Amid the high gas prices, Chevron\u2019s CEO added that the oil \u201cindustry is responding with increased production. We need to see rhetoric and messaging that indicates that our country supports increased production.\u201d<\/p>\n<p> Mixed Signals <\/p>\n<p>While Chevron and other oil companies have been in communication with the White House, administration officials have sent mixed signals. As a result, oil corporations have scrapped making long-term investments in various projects.<\/p>\n<p>During a news conference last month, Biden dismissed suggestions from Wirth and called him \u201cmildly sensitive.\u201d<\/p>\n<p>\u201cI didn\u2019t know they\u2019d get their feelings hurt that quickly,\u201d Biden said. \u201cLook, we need more refining capacity. This<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chevron\u2019s CEO asserted that the oil industry isn\u2019t attempting to hold back supply, rejecting allegations made by the Biden administration in recent weeks amid record-high gas prices. \u201cPeople are not holding back supply. People are not slow-walking anything\u2014they\u2019re producing as much in the refining system as possible,\u201d CEO Mike Wirth told Fox Business on Thursday [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1556229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1556229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1556229"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1556229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1556229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1556229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1556229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}