The CEO and Founder of Texas-based Zubeldia Energy Services, LLC, Derek Zubeldia, is striking back against Joe Biden’s threat to use emergency powers if oil companies don’t increase the output at their refineries.
In a series of letters sent to oil CEOs this week, Biden blamed oil companies for “historically high profit margins” writing,
“Your companies and others have an opportunity to take immediate actions to increase the supply of gasoline, diesel and other refined product you are producing. My administration is prepared to use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied.”
However, Zubeldia asserts that oil companies are not to blame for the skyrocketing gas prices as Biden has waged war against American energy, canceled the Keystone XL Pipeline, canceled oil leases on federal lands and canceled offshore drilling in the Gulf and Alaska.
Furthermore, the oil Executive says that Biden’s threat to use emergency powers to increase supply will only exacerbate the problem,
“President Joe Biden’s call on US oil refineries to produce more gasoline and diesel and to cut profits will not be effective in lowering gas prices. Biden’s latest ill-advised policy will only compound the pressure families are feeling at the pump and the sharp increase in consumer prices they are experiencing as a direct result of this administrations failed policies.
US Refineries are already operating at the upper limits of what refineries can steadily maintain, as they have hit 96% twice this summer. Refineries cannot currently increase their current levels, in fact they would have already done so if they could have.
It’s important understand how we arrived in this situation, and it was not due to Putin.This administration went to war with its domestic oil producers on day one. They banned drilling on public land, levied more regulation on the oil and gas industry, eliminated the keystone pipeline. As a result, oil and gas producers are now struggling to keep up with demand. Then the Biden administration proposed access to only 20% of public acreage but wanted oil producers to pay 50% more in royalties and fees -that they already paid – for 80% less acreage.
Here is the solution to alleviate Americans pain at the pump and to strengthen our national security. This administration must work to approve vital energy infrastructure, hold energy lease sales, allow producers access to federal acreage, cut high fees and regulations on producers, and increase access to capital for oil and gas industry. This among a few other things will help Americans find relief at the pump.
It is important to note, that large financial institutions and democrat laws makers have worked diligently to eliminate access to capital for the oil and gas industry, which makes it harder to increase the energy supply.
Our domestic energy capacity has been significantly diminished because this administration has chosen to acutely move away from fossil fuels as part of its climate change policy. It’s time they change course.”
The letters represent a public attempt by Biden to curb the inflation that started to rise just months after he took office. The most recent report indicates that inflation is at a new 40 year high of 8.6% and shows no signs of slowing.
In addition, Biden has ordered another 45 million barrels of crude oil to be released from the Strategic Oil Reserves, with reports indicating that those barrels are being sent to Europe.
According to AAA, gas prices have surpassed a national average of more than $5.00 a gallon for the first time in history.
Zubeldia is running for the Texas State Senate in District 29. He vows to fight to protect jobs, families and the futures of all Texans.
Zubeldia is a highly accomplished businessman who will work tirelessly to bring more businesses and high paying jobs to the Lonestar State.
To support Zubeldia go to ZubeldiaForTexas.com or click HERE
