Chevron CEO Mike Worth Pens Letter to Biden Asking for Honest, Consistent Dialogue

Washington Times: Energy giant Chevron told President Biden Tuesday his administration should offer “clarity and consistency” on energy policies and record gas-pump prices, and engage in “honest dialogue” about the importance of domestic oil production instead of trying to “vilify” the companies who produce it. Chevron Chairman and CEO Mike Wirth was responding to an accusation made by Mr. Biden last week that corporate greed is in part to blame for sky-high prices at the pump and a threat from the president to invoke emergency wartime powers to force more gasoline production (Washington Times).  Chevron: American oil and gas supplies are among the most efficient, responsibly produced, and lowest carbon intensity supplies in the world. At roughly 15 kg of CO2-equivalent per barrel, Chevron’s Permian Basin carbon intensity is some two-thirds lower than the global industry average. U.S. Gulf of Mexico production has carbon intensity just a fraction of the global industry average. Increasing American production will offset barrels produced in other parts of the world that may not support America’s energy security, economic competitiveness, or environmental goals. I want to be clear that Chevron shares your concerns over the higher prices that Americans are experiencing. And I assure you that Chevron is doing its part to help address these challenges by increasing capital expenditures to $18 billion in 2022, more than 50% higher than last year. Chevron and its 37,000 employees work every day to help provide the world with the energy it demands and to lift up the lives of billions of people who rely on these supplies. Notwithstanding these efforts, your Administration has largely sought to criticize, and at times vilify, our industry. These actions are not beneficial to meeting the challenges we face and are not what the American people deserve (Chevron).