(AP Photo/Susan Walsh)
By JOSH BOAK Associated Press
President Joe Biden wants U.S. oil refiners to produce more gasoline and diesel. In a letter to refiners Wednesday, Biden says their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record high prices. Biden writes the oil companies need to work with his administration on “near-term solutions” addressing the crisis. Gas prices nationwide average roughly $5 a gallon, an economic burden for many Americans and a political threat for Biden’s fellow Democrats before midterm elections. Biden’s message that corporate greed contributes to higher prices might resonate with voters. ExxonMobil says it has informed Biden’s administration of its planned investments to increase oil production.