Posted on 09/30/2022 10:09:01 AM PDT by SaxxonWoods
Exxon Mobil’s CEO, Darren Woods, warned that the Biden administration’s plan to cut back on fuel exports could reduce global supplies and hike gas prices, The Wall Street Journal reported Friday.
Woods told the Department of Energy (DOE) in a letter that oil and gas producers should avoid curbing exports and stockpiling fuel, according to the WSJ which cited a letter sent by Exxon. Exxon claimed that cutting exports would not help the Northeast’s fuel shortages because it would force Gulf Coast refineries to slow their operations, which would reduce fuel supplies and raise gas prices.
(Excerpt) Read more at dailycaller.com ...
Oh my, just in time for November.
When will Exxon Mobil’s CEO be raided by the FBI?
Just curious.
Dear Darren.
See our planning guide. This is an essential part of getting rid of “fossil” fuels.
Thanks.
DOE
Doesn’t Bidung have video footage of the Exxon CEO clubbing baby seals or pouring tar on penguins or something?
Not sure I totally agree with the CEO. If I don’t export my production and part of the US needs that fuel, then why can’t it go there? I think the real issue is Exxon makes more money off of exports. Is that additional profit needed to keep the refineries going? I don’t know.
Not stupidity. More like destructive arrogance.
Besides, didn’t Biden say to the gas stations and carbon poisoners to not raise prices no matter what?
Oil companies are great at finding seismic anomalies, trap rocks, sucking it up, cracking and reforming it, and transporting the stuff all over the planet, but they are slow on seeing the writing on the wall left there by the marxist radicals calling the shots.
I bought oil stocks as soon a B was deemed elected.
With all the anti oil rhetoric and action from him I swear the oil companies selected him. Scarcity increases margins.
I make money off this foolishness.
“Not sure I totally agree with the CEO. If I don’t export my production and part of the US needs that fuel, then why can’t it go there?”
Biden is telling them to store the fuel and not sell it, so it won’t be “going there”.
Less fuel going to refineries means they have to partially shut down. Companies have nothing to do with setting the price, it’s set on the world market by competition. That’s what they mean when they say “oil/gas is fungible”. The difference to the energy companies is small, the difference to us as consumer will be noticeable.
I’m with you, I’ve been investing in energy for many years and also in nat gas mineral rights for about 15 years. My monthly nat gas checks have gone from about $300 total to about $1,200 total over the 18 months or so on about 36 acres of rights.
Exxon Mobil’s CEO Darren Woods should sound the alarm bells about how “green” energy is driven by a climate hoax and, if pursued to the end, will destroy western economies and lead to wide-spread poverty and misery.
Instead he focuses on minutiae.
It has to do with maximum efficiency of a refinery.
Northeast is going to be forced to buy Russian oil ...
My thoughts as well.
Biden is the one selling our strategic oil reserves to the communist Chinese!!
Right.
Which blends / products are readily refinable from which crude going to which refinery enters into it as well.
The real issue is that we can both undercut Pooty and his pals AND greatly benefit ourselves & most of the rest of the world by going on a wartime footing to increase gas and oil production globally, and especially here in North America, as much as possible.
Not even HALF the economic cost (ongoing and coming) of the energy sanctions the West slapped on Russia could pay for this effort, and it repays itself in spades.
How many storage fields do you have on hand?
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