Biden looking to tackle oil refining capacity, says White House adviser

U.S. President Joe Biden speaks during the opening plenary session of the Ninth Summit of the Americas in Los Angeles, California, U.S., June 9, 2022. REUTERS/Daniel Becerril

Join now for FREE unlimited access to Reuters.com

Register

WASHINGTON, June 10 (Reuters) – U.S. President Joe Biden is looking for ways to boost oil supplies amid rising energy costs, including working on oil refining capacity, said on Friday. White House economic adviser Cecelia Rouse.

“He’s looking at what he can do administratively, whether it’s working with oil companies and refineries asking them, ‘We recognize your spare capacity issues – what can we do for you? help maintain your refining capacity and bring more oil online?’” Rouse, chairman of the White House Council of Economic Advisers, said in an interview with CNN.

The White House is considering proposals that would tax windfall oil and gas profits, a US official said last week. Rouse, when asked about this tax and possibly lifting some Chinese tariffs, confirmed that all options remain on the table.

Join now for FREE unlimited access to Reuters.com

Register

“We want to do this in a way that’s strategic and benefits American workers, American businesses, the American economy as a whole, but it’s definitely on the table,” she said.

Some of the ideas require working with Congress, she said.

Biden has come under intense pressure to ease price pressures, particularly for gasoline, ahead of November’s midterm elections with his Democratic Party’s control of Congress at stake.

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Doina Chiacu; edited by Kanishka Singh and Chizu Nomiyama

Our standards: The Thomson Reuters Trust Principles.

Comments are closed.