Published July 3
US energy producers roast Biden for demanding 'companies running gas stations' lower pump prices
Biden urged gas companies on Saturday to realize 'this is a time of war and global peril'
https://www.foxbusiness.com/politics/u-s...wer-pump-prices
By Adam Sabes FOXBusiness



The U.S. Oil & Gas Association took a hit at President Biden after he tweeted on Saturday that "companies running gas stations" should simply "bring down the price you are charging at the pump," telling him that he should "please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester."

"Working on it Mr. President. In the meantime - have a Happy 4th and please make sure the WH intern who posted this tweet registers for Econ 101 for the fall semester...," they tweeted.

On Sunday, Biden tweeted that "companies running gas stations" should take note that "this is a time of war and global peril."

"My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril," Biden tweeted on Saturday. "Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now."

BIDEN TWEETS DEMAND FOR GAS STATIONS TO 'BRING DOWN' PRICES, GETS PRAISED BY CHINESE STATE MEDIA
President Biden speech

President Joe Biden addresses the 76th Session of the U.N. General Assembly on Sept. 21, 2021, in New York City. (Timothy A. Clary-Pool / Getty Images)

Biden's tweet comes as gas prices are averaging at $4.812 nationwide, which is up 5 cents from one month ago. In some states, however, prices are much higher.

In California, the average price per gallon of gas is $6.244 and in Illinois, it's $5.325.

Biden has attempted to deflect blame for the increase in gas prices to Russian President Vladimir Putin, dubbing it the "Putin's Price Hike," a term used repeatedly by the White House, despite his campaign promise to always take responsibility and not blame others.

The call for action from Biden follows a failed proposal from the Oval Office to implement a 90-day gas tax holiday, which was dismissed by even Democratic lawmakers as outlandish.-- excerpt, rest at link above --

Oil from U.S. reserves head overseas as gasoline prices stay high
By Arathy Somasekhar
https://www.reuters.com/business/energy/...igh-2022-07-05/
The Bryan Mound Strategic Petroleum Reserve is seen in an aerial photograph over Freeport, Texas




HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. read more

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped.

The fourth-largest U.S. oil refiner, Phillips 66 (PSX.N), shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies (TTEF.PA), exported 2 cargoes of 560,000 barrels each, the data showed.

Phillips 66 declined to comment on trading activity. ATMI did not respond to a request for comment.

Cargoes of SPR crude were also headed to the Netherlands and to a Reliance (RELI.NS) refinery in India, an industry source said. A third cargo headed to China, another source said.-- excerpt, rest at link above --


Hey, guys - read this one! @EdJames @Isailedaway @Tinker

They are making their message pretty clear....