Under intense political pressure to address soaring gasoline prices, President Biden is trying to push the nation’s largest refiners to do more to boost supplies and lower prices.
In a letter to the companies on Wednesday, Biden said refiners are taking advantage of the crisis, seeing record-high profit margins at a time when inflation has soared and families are finding it hard to afford to fill up their cars.
“My administration is prepared to use all reasonable and appropriate federal government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied,” Biden said, noting he had already invoked his emergency powers in other ways.
Read more at NPR.org
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