Biden says oil companies are earning 'historically high' profits
President Biden may resort to using emergency powers if American oil companies don't increase output at their refineries, the president told oil CEOs in a series of letters Wednesday.
Biden's statement blames oil companies for running "historically high profit margins" even as Americans experience surging gas prices.
Biden has recently faced criticism for a lack of executive action aimed at curbing inflation.
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President Biden Threatens Oil Companies With Emergency Powers To Boost Production
Biden tells oil companies in letter ‘well above normal’ refinery profit margins are ‘not acceptable’ -- CNBC
Biden Tells US Oil Refiners Record Profits Are 'Not Acceptable' -- Bloomberg
Biden tells oil refiners: Produce more gas, fewer profits -- AP
US: Biden condemns big oil firms as fuel prices spike -- DW
Biden Sends Threat-Letters To Big Oil: Help Ease "Putin Price Hike" Or Face Our Tools -- Zero Hedge
Biden warns Big Oil over gas output -- Axios
Biden’s new inflation scapegoat: oil giants racking up profits amid record gas prices -- Analysis by Stephen Collinson, CNN
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