In a next life I'm going to be the janitor on a large space going cruiser.Small world! I was a cannoneer in that campaign.
Biden threatens oil companies with 'emergency powers' if they don't fix his #### up!
- Thread starter Kyle
- Start date
TPD
the poor dad
Oh hell no! Sh!t and piss will be everywhere in a weightless environment.
The OPEN ones are. That's the whole goal.
ExxonMobil 'Comes Out Swinging' in Response to Biden's Letter to Oil Companies
“Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and gas supplies compared to net income of $55 billion,” the company said in a statement. “This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products.”
Addressing the president’s accusation that companies did not restore refining capacity that was reduced at the start of the pandemic, ExxonMobil said it continued investing despite losses.
“Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery,” the statement said. “We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand.”
Biden, attempting to shift blame from the effects of his oil and gas policies, blasted the companies for profiteering off the high prices and threatened that his administration may use “emergency authorities to increase refinery capacity and output in the near term.”