Trump to meet with oil refiners amid stubborn gas prices
The meeting follows $4-plus gasoline prices and comes as the administration seeks near-term steps to expand refining capacity, officials said.
- President Donald Trump will meet with oil refiners and fuel distributors on Tuesday, September 1, to explore expanding refining capacity. Participants include Interior Secretary Doug Burgum, Energy Secretary Chris Wright, and National Energy Dominance Director Jarrod Agen.
- The national average for regular unleaded has remained above $4 a gallon for 103 days, hitting a record seasonal high of $4.03 on August 13 according to GasBuddy. High costs are driving down presidential approval and hurting Republicans ahead of midterm elections.
- On August 28, Trump announced a partnership in Venezuela securing a 55% stake in over 65 billion barrels of oil. Trump wrote on Truth Social that the deal would "substantially lower gas prices" for American taxpayers.
- Energy experts remain skeptical of near-term impacts, with Gerald Kepes, president of energy consultancy Competitive Energy Strategies, calling the idea "absurd." Francisco Monaldi, director of the Latin America Energy Program at Rice University's Center for Energy Studies, said a production increase is "highly unlikely."
- Facing pressure before midterm elections, the White House is working to show voters it takes economic issues seriously. Recent polling shows 64% of respondents disapprove of Trump's performance, while eight in 10 Americans believe the war in Iran increased costs.
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Trump to Host Big Oil CEOs as Gas Price Average Remains Over $4 a Gallon - CleanTechnica
Washington, DC — Reporting today indicates that Donald Trump plans to host oil industry executives at the White House tomorrow, even as the average gas price is over $4 a gallon and Big Oil companies reported $85.2 billion in combined Q2 profits. Much of that windfall came from the surge in oil prices following ... [continued] The post Trump to Host Big Oil CEOs as Gas Price Average Remains Over $4 a Gallon appeared first on CleanTechnica.
The White House is looking for oil companies to expand refining capacity to contain the price of gasoline, which exceeds $4 per gallon
Trump to host oil executives after accusing refiners of gouging consumers
President Donald Trump has accused U.S. oil refiners of gouging Americans, called for a Justice Department investigation and urged companies to use their bumper earnings to bring down gasoline prices that spiked amid the ongoing conflict with Iran.
Washington, United States. U.S. President Donald Trump will meet Tuesday with representatives of the oil refining sector in full war with Iran, and after announcing an agreement to take over part of Venezuela's hydrocarbon reserves, the White House reported. Fuel prices in the U.S. remain under stress in the face of repeated military incidents with Iran and the confusing situation in the Strait of Ormuz, the key step for one fifth of world oil p…
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